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

📆 2/05/2023 5:35 p. m.
📰 Cointelegraph

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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 (

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