📉 Crypto Fund Outflows Hit Record Levels Since March! 📉


Last week, crypto investment products saw their highest net outflows since March, losing a staggering $725.7 million. Bitcoin (BTC) funds were hit the hardest, with outflows of $643 million, while Ether (ETH) funds lost $98 million. đŸȘ™


Spot Bitcoin ETFs in the U.S. experienced net outflows for eight consecutive days, a record since their inception in January. Bitcoin’s value dropped over 8%, falling below $54,000 on September 6, down from around $59,000 on September 2. 📉


This period coincided with weak economic data from the U.S., including the nonfarm payrolls report, which raised the prospects of a 50 basis-point rate cut by the Fed this month. However, this did little to boost Bitcoin’s performance. 📊


Stay tuned for more updates as traders eye the upcoming U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) releases this week. 📅


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