Geopolitical tension and a crypto market lull led to caution among investors, resulting in outflows from investment vehicles last week.

CoinShares reported $126 million in outflows from digital asset investment products. Bitcoin (BTC) declined over 8% in the past seven days, dropping to as low as $61,000 on some crypto exchanges, according to CoinMarketCap.

Short BTC investors, anticipating lower prices, injected $1.7 million in products and positions to profit from a declining market.

Despite the outflows, Bitcoin products like spot ETFs continued to see inflows of over $555 million month-to-date. Overall digital asset investment trading volume also saw an increase to $21 billion week-on-week, up from $17 billion the previous week.

However, ETF volumes decreased to 31% of total volume across approved exchanges due to a decline in investor confidence. This trend was most prominent in the U.S., which recorded the largest outflows totaling $145 million.

While some long-standing altcoin products attracted investors, Ethereum (ETH) experienced outflows for the fifth consecutive week. Ether investment products saw outflows amounting to $29 million, with the token dropping by 11% amid a broader market correction.

Solana (SOL), previously considered an ‘Ethereum-killer,’ recorded outflows of $3.6 million. On the other hand, products based on established virtual assets like Decentraland (MANA), Basic Attention Token, and Lido saw inflows of $4.9 million, $2.9 million, and $1.8 million, respectively.

Despite price stagnation and retracements across various assets, there has been a recent uptick in positive activity. CoinGecko reported a 3.6% increase in the total crypto market cap in the last 24 hours.

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