CoinShares: Global encrypted ETP fund outflows for four consecutive weeks, putting pressure on Bitcoin and Ethereum According to The Block, CoinShares' latest report shows that global cryptocurrency ETP funds have experienced net outflows for the fourth consecutive week, with outflows of approximately $173 million last week and a cumulative outflow of $3.74 billion over the past four weeks, indicating that the market's capital outflow trend is still continuing. The report points out that although the weekly outflow scale has slowed down compared to the high of about 1.7 billion US dollars at the beginning of the month, the overall selling pressure has not yet reversed. James Butterfill stated that the current data reflects that cryptocurrency funds are undergoing a one month drawdown cycle. In terms of trading activity, the ETP trading volume has significantly cooled down, dropping from a record high of $63 billion in the previous week to $27 billion, indicating a synchronous decrease in speculative trading heat with capital outflows. In terms of the rhythm of capital flow, there was an inflow of about $575 million recorded at the beginning of last week, but then there was an outflow of about $853 million, mainly due to the weakening of prices; On Friday, boosted by weaker than expected CPI data, there was a brief inflow of approximately $105 million in funds. There is significant differentiation at the regional level. The US market recorded approximately $403 million in capital outflows last week, while other regions recorded a total of approximately $230 million in inflows, with Germany leading with an inflow of approximately $115 million, followed by Canada with approximately $46.3 million, and Switzerland with approximately $36.8 million, indicating a shift in capital demand towards overseas markets. In terms of asset categories, Bitcoin related investment products had the largest outflow last week, with approximately $133 million; Short selling Bitcoin products has also resulted in an outflow of approximately $15.4 million over the past two weeks, and CoinShares points out that this phenomenon typically occurs when the market is approaching a temporary low. Ethereum funds recorded an outflow of approximately $85.1 million, while some counterfeit assets still attract capital inflows, with XRP inflows of approximately $33.4 million, Solana inflows of approximately $31 million, and Chainlink inflows of approximately $1.1 million. On the price level, Bitcoin has fallen nearly 2% in the past week, still below the $70000 mark; After two consecutive weeks of significant outflows of funds, Ethereum remains below the $2000 level, and overall market sentiment remains cautious.