According to data provided by CoinShares, Bitcoin outflows from numerous investment products have reached $487 million in 2021.
Over the past week, intuitional investors trimmed their exposure by yet another $89 million. Bitcoin has now recorded six weeks of outflows in a row.
China is adding more fuel to the fire by banishing Bitcoin miners and stepping up its ban on crypto trading.
Bitcoin is changing hands at $32,637 at the time of writing on the Bitstamp exchange after plunging to $31,163.
Godfrey Benjamin
