With the price of bitcoin still trading below $40,000, institutional inflows into the digital asset have slowed significantly.
For the past couple of weeks, the rate at which institutional investors have been pulling money out of bitcoin has been on an accelerated timeline.
In the space of a week alone, bitcoin had seen the majority of outflows from the market, which had come out to $120 million for the past week.
The digital asset spearheaded the inflow trend with a total of $38 million moving into the asset last week.
Its price had briefly recovered above $39,000 in the early hours of Wednesday before declining to be trading at $38,935 at the time of this writing.
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