By Gertrude Chavez-Dreyfuss

NEW YORK, (Reuters) – Cryptocurrency funds and products received $184 Million in net inflows last week according to data from CoinShares on Monday.

CoinShares stated that Friday’s weakening of the dollar led to outflows of $40 million. Total inflows were $9.1 Billion for the year. This is slightly lower than the record high of $9.5 just two weeks earlier.

The net inflows to, however, reached $145 million, the 12th consecutive week of flows. As it was the victim of sharp price drops and investor jitters, outflows were $42 million.

The weekend’s fall in market prices was attributed to the broad shift from riskier assets on traditional markets due to worries over the Omicron coronavirus variant.

Investors who bought bitcoin margin on exchanges saw their positions close, which caused a chain of selling. According to Coinglass, a range of retail-oriented exchanges shut down more than $2 Billion worth of bitcoin long positions Saturday.

“The cryptocurrency markets are very volatile.” The Omicron variant and pressure on the TradFi (traditional finance) markets also seem to affect bitcoin,” said Ruud Feltkamp, chief executive officer at automated trading bot Cryptohopper.

“In comparison, 2017’s bull market saw many crashes, sometimes exceeding 38%,… Sometimes, it is better to be afraid than to take action. If you are feeling confident it is a good time to walk away.

Bitcoin fell 0.8% to $49,093. The bitcoin price has plummeted 32% after a record $69,000 peak on Nov. 19.

CoinShares noted, too that bitcoin volume climbed to $15 billion on Friday. That’s higher than the average $8 billion daily for November or December.

There were also inflows totalling $25 millions, however, there was a minor outflow of $4.7 million on Friday, just like with bitcoin.

$3 million was spent last week on, the cryptocurrency that allows blockchains to interact. The majority of those outflows were in the later half of the week.