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According to the most current CoinShares report, the Ethereum ETF launch received $2.2 billion in inflows, which were hampered by entrenched selling, with net outflows totaling $285 million.Cryptocurrencies extended Monday's sell-off as investors and traders looked ahead to central bank meetings this week.
The Federal Reserve, the Bank of Japan and the Bank of England are all meeting this week, and traders are keeping an eye on them. The focus is on Fed Chair Jerome Powell in particular, with the hope that his comments might confirm an interest rate cut in September.July meeting begins Tuesday and ends Wednesday with a monetary policy announcement and press conference by Fed Chairman Jerome Powell.
The markets broadly expect the central bank to leave interest rates steady this week, but many investors are hopeful that policymakers will provide new signals about the outlook for rates.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.