Investors withdrew $621 million from Bitcoin products following unmet Fed expectations
📉 From June 8 to 14, outflows from cryptocurrency investment products totaled $600 million, with #bitcoin -based products alone seeing $621 million withdrawn, according to CoinShares.
👀 These figures are the highest since March 2024, equating to one-third of the previous week's inflows.
Assets under management fell to $94.2 billion, and #ETP trading volume decreased from $12.8 billion to $11 billion. Analysts attributed the sentiment shift to the Fed's key rate forecasts.🧐
🤷 Clients withdrew $621 million from Bitcoin-related instruments, while in the previous period, they added $1.97 billion. #investors added $1.5 million to short digital gold positions (previously withdrew $5.3 million).
📊 Ethereum, LIDO, and $XRP saw inflows of $2 million and $1 million respectively. Ethereum-based funds continued their positive trend for the fourth consecutive week, with inflows slowing from March's $68.9 million to $13.1 million.
