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Title: 15-Week Crypto Inflow Streak Ends with a $223M Shock Withdrawal
The crypto market has experienced its first weekly outflows in over three months, according to the latest data from CoinShares. This drastic shift is attributed to changing investor sentiment in the second half of the week, particularly following key US macroeconomic events.
The sudden and unexpected withdrawal of $223 million marks a stark departure from the 15-week streak of positive inflows that has characterized the market’s recent performance. The crypto asset investment market was left reeling after a hawkish Federal Open Market Committee (FOMC) meeting and stronger-than-expected US economic data dampened risk appetite.
As a result, Bitcoin saw a significant $404 million in outflows, one of the largest weekly pullbacks in recent months. Despite this setback, year-to-date inflows continue to remain strong, with a staggering $20 billion in investment capital drawn into the market so far.
The sudden shift in investor sentiment has raised concerns that investors are locking in gains amid increased macroeconomic uncertainty. This phenomenon is not unprecedented, as it is common for investors to take profits following a period of significant accumulation.
On the other hand, some altcoins showed resilience and continued to attract capital. Ethereum, a blockchain-based technology pioneer, saw $133 million in net inflows, marking its 15th consecutive week of positive investment flows. This surge in interest can be seen as an indication of growing confidence in the platform’s long-term adoption prospects.
Other leading cryptocurrencies like XRP, Solana, SEI, Aave, and Sui also recorded significant investment gains, suggesting that investor interest in diversified crypto exposure remains intact.
Source: bitcoinist.com
