Digital asset investment products saw a total of $305 million in Capital last week. The negative sentiment was focused on Bitcoin, which saw $319 million in Capital .
Digital asset investment products saw Capital totaling $305 million last week, with negative sentiment spreading across multiple providers and regions. This appeared to be driven by stronger-than-expected economic data from the US, which reduced the likelihood of a 50 basis point rate cut. The market expects the asset class to become increasingly sensitive to interest rate expectations as the Fed moves closer to a rate cut.
By region, the US saw Capital totaling $318 million, with Germany and Sweden seeing smaller Capital totaling $7.3 million and $4.3 million, respectively. Switzerland and Canada saw small Capital totaling $5.5 million and $13 million, respectively.
The negative sentiment was focused on Bitcoin, which saw outflows of $319 million. Short bitcoin investment products saw Capital for the second consecutive week totaling $4.4 million, the largest since March of this year. Ethereum saw outflows of $5.7 million, while volume were stagnant, reaching just 15% of the levels seen during the week of the U.S. ETF’s launch, similar to the volume levels observed before the launch. In contrast, Solana saw Capital of $7.6 million.
Blockchain company stocks bucked the trend, seeing $11 million in Capital , particularly into investment products for Bitcoin Miners .
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