Apprehension over a delay in interest rate cuts, a strengthening DXY and softness in Bitcoin price back the $584 million outflow in crypto investment products.
Outflows from Bitcoin (BTC) investment products hit $630 million over the last week, with the total outflows in 14 days reaching approximately $1.1 billion, according to CoinShares.
The CoinShares’ “Digital Asset Fund Flows Weekly” report reveals that the total outflows from all cryptocurrency investment products reached $584 million for the week ending June 21.
This reduction in investment in crypto products is primarily attributed to institutions and long-term investors reducing their exposure to spot Bitcoin ETFs amid the reduced possibility of interest cuts by the United States Federal Reserve in 2024.
