According to TechFlow, CoinShares released a report showing that digital asset investment products experienced a massive outflow of $72 million last week, which was equal to the largest single-week outflow record set in March this year. Bitcoin outflowed $643 million in a single week, while short-selling Bitcoin products had a small inflow of $3.9 million.

Ethereum saw $98 million in outflows, mostly from the Grayscale Trust, while Solana saw $6.2 million in inflows, the largest of all assets.

CoinShares believes that last week's stronger-than-expected macroeconomic data increased the likelihood of a 25 basis point rate cut by the Federal Reserve, causing market sentiment to turn negative. Investors are now waiting for the Consumer Price Index (CPI) inflation report to be released on Tuesday to assess the possibility of a 50 basis point rate cut.