Let me tell you a story, guys. It’s not the kind of tale that warms your heart. No, this one’s about money vanishing into thin air.
Last week, the crypto world took a hit so hard it felt like a punch from a heavyweight champ. $795 million walked out the door, thanks to tariff turmoil.
No land for gain seekers
For three weeks straight, crypto investment products have been bleeding cash. We’re talking $7.2 billion in outflows since February.
That’s not a drop in the bucket, it’s the whole bucket spilling over. Year-to-date inflows?
Almost wiped out. What’s left? $165 million. It’s like trying to hold onto sand while the tide rolls in.
But there’s a twist, prices bounced back later in the week, lifting assets under management to $130 billion.
That’s an 8% recovery from the rock-bottom low on April 8. Still, it’s not exactly champagne-popping news, it’s the weakest level since November last year. And guess what sparked this mess?
A temporary tariff reversal by President Trump that rattled the market like a bad plot twist in a crime drama.
Bitcoin takes the biggest hit
Now let’s talk Bitcoin, the big boss of crypto. CoinShares’ report revealed that Bitcoin saw $751 million in outflows last week alone.
Sure, Bitcoin still boasts $545 million in year-to-date inflows, but let’s not sugarcoat it, this is bad news. And it wasn’t just Bitcoin feeling the heat.
Short-Bitcoin products lost $4.6 million too. Ethereum? Down $37.6 million. Solana, Aave, Sui? All taking hits, $5.1 million, $0.78 million, and $0.58 million respectively.
Even Cardano and Litecoin couldn’t dodge the bullets, each losing $0.3 million. On the other hand, XRP actually saw inflows of $3.5 million, like finding a diamond in a pile of coal.
Global fallout
Let’s zoom out for a global view, it’s not pretty, guys. The U.S.? $763 million outflow, a gut punch to American crypto investors.
Switzerland and Hong Kong weren’t far behind with losses of $11.9 million and $11.2 million respectively.
Sweden and Germany chipped in their share of misery too, $6.8 million and $4.4 million gone. But hey, Canada showed up with some good vibes, $2.1 million in inflows!
And let’s give a polite nod to Australia and Brazil for their modest gains of $0.4 million and $0.2 million.
So where does this leave us? Crypto investors are staring at their screens like gamblers who just lost it all at the roulette table, and they’re wondering if it’s time to walk away or double down.
Have you read it yet? America’s Bitcoin gambit brings a whole lotta questions
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
