Investors Cash Out $5M From 7-Week Bull Run On Short Bitcoin

Short bitcoin has been at the forefront of investors’ attention over the last few months. Since it launched, it has garnered an impressive asset allocation and has not eased up. This is not surprising as the market had begun another bear run. However, last week, investors began to move the other way when it comes to short bitcoin. Inflows have now turned to outflows. Bitcoin Investors Begin Profit-Taking The CoinShares Digital Asset Fund Flows weekly report shows that investors have turned towards outflows for short bitcoin. For the past 7 weeks, short bitcoin had been enjoying consecutive inflows as the price of the digital asset had nosedived. Now, it seems that these investors have begun to enjoy the spoils as they begin taking money out. Related Reading: Staked ETH Nears 14 Million As Ethereum Readies For Breakout For the first time in more than two months, short bitcoin outflows came out to a total of $5.1 million. Interestingly, the total asset under management (AuM) for the short BTC remains high at $172 million, a new record high for the digital asset. So even though investors have been pulling out money, it only shows that there is profit-taking going on and not necessarily a shift in sentiment toward the investment vehicle. BTC recovers above $20,000 | Source: BTCUSD on TradingView.com On the flip side, long bitcoin only saw minor inflows. This is also in line with the increased interest in short BTC. With inflo...