🔔Crypto News Alert🔔

Digital asset investment products are seeing a second consecutive week of outflows, shedding a whopping $1.2 billion! 😲 According to CoinShares, this could be due to investor pessimism about potential Fed interest rate cuts this year.

Bitcoin, our beloved BTC, bore the brunt with $630 million in outflows. However, short positions didn't increase significantly, so don't panic just yet! 🙌 CoinShares' latest report states, "Further outflows of US$584m highlight a true correction is underway."

Ethereum didn't escape the negative sentiment, recording $58 million in outflows over the past week. But here's the twist - some altcoins, like Solana, Litecoin, and Polygon, saw inflows of $2.7 million, $1.3 million, and $1 million respectively. 📈

Investors seem to view the altcoin downturn as a chance to buy at lower prices, with $98 million flowing into multi-asset products last week. This suggests some are diversifying their crypto holdings amid the recent market weakness.

Crypto ETPs trading activity hit a low last week, with global volumes reaching only $6.9 billion. The US led the outflows with $475 million, followed by Canada with $109 million.

But not all is gloom and doom! Switzerland and Brazil bucked the trend, recording inflows of $39 million and $48.5 million respectively. 🚀

Stay tuned for more updates and keep hodling, BTC enthusiasts! 🎉