Bitcoin Losing Record Weekly Flows as Its Rally Recedes

Data from the Cryptocurrency Management Quinchers Monday (April 26th) showed that the cryptocurrency Bitco8b lost record weekly flows as sentiment in general towards cryptocurrencies turned to caution after a rally stalled.

BTC lost $21 million in inflows in the week ending April 23, the largest weekly inflows on record.

The crypto asset sector attracted total net inflows of only $1.3 million, the lowest weekly figure since October 2020.

Quinciers said total crypto assets under management totaled $54.3 billion as of the end of last week, down from $64.2 billion in mid-April.

And after hitting a record high of around $ 65,000 in mid-April, Bitcoin plunged around 25%.

But the world’s largest cryptocurrency by market value rose by 10% on Monday and recorded in the latest circulation of $53,970, which highlights the sharp fluctuations in its value.