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Crypto funds have experienced a significant downturn, with $223 million in outflows recorded last week. This marks the end of a 15-week streak of consistent inflows. The shift in investor sentiment can be attributed to the Federal Reserve’s hawkish stance and strong US economic data.
The sharp decline was led by Bitcoin withdrawals, which saw $404 million exit the market, resulting in a negative return for the first time since February. This trend has put pressure on institutional investors who have been investing heavily in digital assets. The Federal Reserve’s comments sparked a swift shift in investor behavior, as seen in the $223M outflows from crypto funds.
Despite this downturn, some altcoins managed to defy the broader market trends and record positive inflows. XRP, Solana, and Sui saw $31.2 million, $8.8 million, and $5.8 million of investment respectively.
Source: coincentral.com
