Bitcoin and investor fear

Institutional investors withdrew a record $ 141 million from Bitcoin investment products last week. The latest report by the analytical company CoinShares shows that outflows from institutional BTC investment products continue to grow. According to a weekly report by CoinShares from the Digital Funds Fund, institutional investors continue to reduce their exposure to Bitcoin, and BTC investment products recorded a record outflow of 141 million dollars last week.
The data follows intense sales amid a dramatic drop in the crypto market in May. Institutions withdrew nearly $ 100 million from crypto products between May 10 and May 16, before the outflow slowed briefly late last month.

Since the beginning of 2021, more than $ 4.2 billion of capital has flowed into Bitcoin products, with BTC currently representing 65.9% of the total capital locked into crypto investment products.
The decline in institutional demand for BTC again coincided with growing institutional appetites for Ethereum.
Bitcoin has fallen by 10% in the last 24 hours and trades around 33,000 US dollars. The entire crypto market as a whole became red, following the first cryptocurrency. The total capitalization of cryptocurrencies then fell overnight by 170 billion dollars.
Bitcoin is re-testing support in the form of a 200-day moving average over the past month. Failure in line with this line could be a real surrender of the bulls.
The index of fear and greed for Bitcoin and the largest cryptocurrency is at 13, corresponding to the “extreme fear” regime.
Price movements in the near future may determine the medium-term trend, so market participants are now particularly cautious. This can be seen in the movement of Bitcoin prices and the declining number of transactions, and rather small daily trading volumes. If Bitcoin doesn’t start attracting active customer demand soon, the battle will cross $ 30,000 with a possible bearish attempt to push the coin even lower with potential targets of $ 25,000.