Bitcoin investments hit by the highest weekly outflow on record as investors pull $141 million, data show

Bitcoin investments hit by the highest weekly outflow on record as investors pull $141 million, data show

Investment in products logged the largest weekly outflow on record, data from CoinShares showed, indicating investors in early June remain cautious toward the cryptocurrency whose price has been sliced in half since hitting a peak above $64,000 earlier this year. $141 million was pulled from bitcoin products by institutional investors in the week ended June 7, according to the digital asset investing firm. Trading volume in bitcoin digital asset investment products also slumped, by 62% compared with last month. In May, the cryptocurrency was hit with a massive selloff during which its market capitalization dropped below $1 trillion. On Tuesday, the market cap fell further, to around $587 billion, according to CoinGecko. Bitcoin has been hurt following regulatory threats from China and the US and a decision by to stop taking the digital currency as payment for its electric vehicles, drawing its price down from an all-time record high of $64,804.72 in April. But "remaining the altcoin of choice for investors" was as it continued to see inflows into investment products, said CoinShares. Investment products for the token of the ethereum blockchain pulled in $33 million in weekly capital. Ethereum's market share in the last week of May . Also,