CoinShares chief strategy officer (CSO) Meltem Demirors is issuing a warning on the crypto markets after a summer of relatively muted volatility.
In a new Bloomberg interview, Demirors says that there’s a high level of uncertainty in the crypto industry and it is putting off various market participants.
“Sentiment is expressed as flow in the market and if we look at flows, I jokingly call it the summer of apathy – the summer that we just had – despite all of this great news, we did see flows into crypto structured products and a pop in Bitcoin when we saw the BlackRock [spot Bitcoin exchange-traded fund (ETF) application] news.
But over the last month, we’ve seen $300 million in outflows. Last week, 70% less