Crypto Investments Take a Hit: What's Going On?

Crypto investment products have seen a big drop in value recently. Over the past four weeks, investors have pulled out $4. 9 billion from these funds. This is the third-largest withdrawal since 2018. The main reason? A mix of people selling their crypto and the value of cryptocurrencies going down. Bitcoin and Ethereum, the two biggest cryptocurrencies, have seen the most withdrawals. Bitcoin funds lost $1. 27 billion last week, but there was a small rebound on Friday with $225 million flowing back in. Ethereum funds saw $589 million leave, with most of that coming from U. S. spot Ethereum ETFs. Other cryptocurrencies like Solana also saw withdrawals, but XRP bucked the trend with $89. 3 million in inflows thanks to a new ETF launch. The withdrawals happened all over the world, with the U. S. seeing the biggest drop at $1. 69 billion. Europe and Canada also saw significant outflows. However, Brazil and Australia were the only places where investors put more money into crypto. Despite the recent drops, the year-to-date flows are still positive at $44. 4 billion. There are some signs that the selling might slow down, but it's too early to tell if this is a real turnaround. Looking at the prices, Bitcoin is trying to recover from a support level of $82, 000, but it's still in a downward trend. Ethereum is stabilizing around $2, 800, but it's also facing a lot of resistance.