The latest data from CoinShares shows that cryptocurrency investment products had another rough week, losing $726 million. This is the largest weekly outflow since March 2024.
Significant Crypto Investment Outflows
Crypto investment products have seen the biggest outflow observed since March 2024, according to CoinShares. According to the latest report by James Butterfill, head of research at CoinShares, published on September 9, $726 million left the market.
Pessimistic Forecasts
The week of March 17–23 experienced unprecedented weekly withdrawals of crypto products, with a total loss of $942 million. Last week saw $643 million leave crypto investment products based on Bitcoin. Solana had the highest influx among assets, totaling $6.2 million, while Ethereum lost $98 million.
Market Expectations
Consistent with the pessimistic outlook prompted by strong US macroeconomic data, selling pressure has persisted. Investors are looking forward to Tuesday's CPI inflation data. If inflation falls short of forecasts, a 50 bp rate cut might occur, increasing demand for risk-on assets. Bitcoin mining companies, like CleanSpark, closed the week with double-digit declines.
The cryptocurrency investment market continues to face pressure due to macroeconomic factors and forecasts for lowering interest rates.
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