Cryptocurrency exchange-traded products (ETPs) experienced significant selling pressure last week, marking the fifth consecutive week of outflows, which totaled $1.7 billion.
After observing a slight reduction in outflows, which amounted to $876 million the week prior, liquidations of crypto ETPs surged during the last trading week, bringing the cumulative outflows over the past five weeks to $6.4 billion, as noted on March 17.
This ongoing trend signifies the longest stretch of outflows—17 consecutive days—the most extended negative run since records began in 2015, according to reports.
Despite the prevailing negative sentiment, year-to-date (YTD) inflows still show a positive figure of $912 million.
### Bitcoin ETP Outflows: $5.4 Billion over Five Weeks
In early March, Bitcoin (BTC) ETPs faced $756 million in outflows, with heightened selling recorded from March 10 to March 14, resulting in an additional $978 million in outflows.
The current five-week downturn has seen total BTC ETP outflows reach $5.4 billion, leaving only $612 million in YTD inflows as of March 14.
Moreover, Ether (ETH) and Solana (SOL) ETPs reported outflows of $175 million and $2.2 million, respectively, while XRP (XRP) ETPs defied the trend with inflows of $1.8 million.
This is an evolving situation, and more details will follow as they emerge.