Global cryptocurrency investment products saw a record outflow of $942 million last week, ending a seven-week inflow streak.

The outflow was largely due to a price dip in Bitcoin, affecting Grayscale's GBTC fund and other Bitcoin ETFs.

While altcoins like Polkadot, Avalanche, and Litecoin experienced inflows, prominent coins such as Ethereum, Solana, and Cardano saw outflows.

Despite the withdrawal wave, the combined AUM of the cryptocurrency products stands at $88 billion, above previous cycle highs.

The US market's inflows surpassed $1 billion but were overshadowed by the nearly $2 billion outflows from Grayscale’s GBTC.

International markets saw mixed movements, with outflows in Sweden, Hong Kong, Switzerland, and Germany, and inflows in Brazil and Canada.

The current market situation is promoting discussions on the importance of Bitcoin ETFs for wider market integration, especially in the UK.

Bitcoin's price has recovered 7.5% in the past 24 hours to $70,644, although it remains below its monthly high of $73,737.