Although cryptocurrency funds maintained growth last week, due to the hawkish remarks by the Federal Reserve chairman, cryptocurrency products experienced record capital outflows, with a significant decline in capital inflows.
Last week, speculators injected a total of $308 million into the funds, including Bitcoin ETFs. However, on Thursday, investors withdrew a record $576 million, and by Friday, this figure had increased to $1 billion, according to data from European fund manager CoinShares.
CoinShares stated that the sudden withdrawal of funds by investors "was likely in response to the hawkish dot plot released by the Federal Reserve." The previous week, these funds had added over $3.2 billion in assets, indicating that capital inflows decreased by more than 90% on a sequential basis.
