Sentiment in crypto funds turned "wide" negative: $305 million came out

Crypto funds, which saw a serious inflow of $543 million last week, made a hard U-turn last week. There was an outflow of 305 million dollars in crypto funds. While 319 million dollars of money was withdrawn from Bitcoin funds, "short Bitcoin" funds had a consecutive entry in the second week.

CoinShares, Europe's largest digital asset management company, shared its weekly crypto fund report. Crypto funds closed last week with a loss of $305 million. The biggest share was in Bitcoin, as always. While Bitcoin funds were 319 million dollars, this figure was 5.7 million dollars for Ether funds.

“Interest will be more sensitive to expectations”

CoinShares chief research analyst James Butterfill described this situation as “a broadly negative of the feeling” and “the better-than-expected economic data in the US lowered the chances of a 50 basis point rate cut a little more. In this period, we expect cryptocurrencies to act much more sensitively according to the Fed interest rate cut expectations," he said.

Short-Bitcoin funds have seen the largest inflows since March. These funds, which completed the previous week positively, closed last week with an inflow of 4.4 million dollars.

The entry of a significant amount of 7.6 million dollars into Solana funds did not go unnoticed either.

While a total of 11 million dollars were invested in blockchain-based funds, the majority of them were mining stocks, which have fallen significantly in the recent period.

Cardano (ADA) and Litecoin funds entered 300 thousand dollars each, and Binance (BNB) funds entered 800 thousand dollars. $BNB $ADA