Here's Why Cryptocurrency Keeps Falling
The outflow from cryptocurrency investment products from June 8 to June 14 amounted to 600 million, including $621 million based on Bitcoin. Such calculations were carried out in CoinShares. These figures are the highest since March 2024.
🇺🇸 The main reason for the outflows, analysts believe, is the change in the Fed’s sentiment regarding the forecasts for the key rate, which did not live up to expectations.
🔹 In Ethereum-based funds, positive dynamics continued for the fourth week in a row, the pace slowed from the maximum since March of $68.9 million to $13.1 million. The main catalyst for growth remains the upcoming launch of the Ethereum ETF.
🔽 Probably at the moment, the cryptocurrency is declining due to the continued withdrawal of funds from the crypto market from funds, as well as due to the lack of positive catalysts.
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