Cryptocurrency Market Experiences Significant Outflows Amid Global Economic Uncertainty

Investors pull $795M from crypto funds amid tariff, Fed fears – Details

A recent report by CoinShares has revealed a staggering $795 million withdrawal from cryptocurrency investment products last week. This marks the third consecutive week of outflows in the market. According to the data provided, Bitcoin and Ethereum led the charge in terms of withdrawals, with $751 million and $37.6 million respectively.

The extended decline is being linked to tariff uncertainty, which has cast a shadow over investor sentiment towards digital assets. BlackRock’s iShares ETF products recorded the highest investor withdrawals, with $342 million outflows. This is a significant drop, amounting to nearly half a billion dollars in just two weeks.

Grayscale products followed closely behind with $187 million outflows, while Solana-based products ranked third after ETH in terms of sell-offs. The only exceptions to this gloomy trend were XRP and multi-asset funds, which saw inflows of $3.4 million and $1.5 million respectively.

It’s worth noting that some analysts have predicted a continued decline in the market. Quinn Thompson, founder of macro-focused hedge fund Lekker Capital, has stated that Federal Reserve Chair Jerome Powell’s recent speech will have negative effects on risk assets, including cryptocurrency, in May.

Source: https://ambcrypto.com/investors-pull-795m-for-crypto-funds-amind-tariff-fed-fears-details/