News Formal

Interest rate hike speculation triggers outflows from crypto investment products: Report

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 51%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

According to CoinShares' weekly report, outflows totaling $72 million last week could be attributed to a looming rate hike by the Fed.

On May 2, European cryptocurrency investment firm CoinShares published its latest “Digital Asset Fund Flows Weekly Report,” whichthat the digital asset market experienced bearish sentiment for the second consecutive week, resulting in outflows totaling $72 million. The report noted that the bearish sentiment could be attributed to the probability of further interest rate hikes by the United States Federal Reserve this week.

Bitcoin recorded the largest outflows at $46 million, with short-Bitcoin also experiencing outflows of $7.8 million, its highest figure since December 2022. Despite the recent outflows, short-Bitcoin continues to lead in inflows for the year, with net inflows of $119 million. Meanwhile, Ether (

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin, Ethereum Technical Analysis: BTC Moves Below $28,000 Ahead of FOMC Decision – Market Updates Bitcoin NewsBitcoin fell below the $28,000 level on Tuesday, as markets continued to prepare for tomorrow’s Federal Reserve interest rate decision.
Source: BTCTN - 🏆 531. / 51 Read more »