According to Coinsers, Hawkish rhetoric from the Federal Reserve and last week’s CPI release covered $ 415 million from digital asset investment products to $ 415 million.
Per coin ‘ Weekly market reportDigital asset investment products first recorded a negative flow after the 19-week line.
In particular, these investment products also saw the influx of a broad market recession for bitcoins (BTC) and altcoins, which was triggered by trade tariffs and lampsakes.
Followed a renewed negative pressure on cryptocurrency at a $ 415 million outflow for the week ending 14 February. The investor’s confidence appeared to take a hit during the high level of CPI. The US Federal Reserve Chair Jerome Powell’s Hawkish comment also seemed to contribute to the outfits of investors.
James Butterfil, head of the research by Coinshrass, mentioned in the weekly report that the outfit put a brake on “an unprecedented 19-week-after-election streak”. During this period, Crypto exchange-traded products and other digital asset investment products collected notable $ 29.4 billion.
The flow crossed $ 16 billion recorded in the first 19 weeks after approval of the American spot exchange-traded funds, which was SEC Greenlight in January 2024.
“We believe that these outfits were triggered from the Congress meeting with Fed Chair Zerome Powell, who indicated more Hawkish monetary policy trend than expectations with US inflation figures,” said Batterfil.
Most of the outflows took place in the US, where $ 464 million exited, while other areas defined Fed and CPI data news. Germany, Switzerland, and Canada all recorded an arrival of $ 21 million, $ 12.5 million and $ 10.2 million respectively.
Bitcoin saw the greatest outflow, with $ 430 million out of assets. Short-bitcoin products also recorded negative flows, total $ 9.6 million. Meanwhile, Etreum recorded $ 7 million in the outflow.
Interestingly, Solana led the most influx, the total $ 8.9 million, followed by the XRP $ 8.5 million. The needle also recorded an influx of $ 6 million. The development around the spot ETF applications provoked both SOL and XRP.
