Investment products in encryption, see sharp outflows amid federal reserve signals – Cryptomode
Crypto Investment Products achieved a major reflection last week at $ 415 million of external flows, which put an end to a five -week flow line that witnessed investors with $ 6.74 billion in the coded currency area.
This sudden shift is due to recent references to the federal reserve, especially the testimony of President Jerome Powell in front of Congress, which indicates a more honest political position. Besides the numbers of inflation in the United States, unexpectedly, it seems that investors have declined, according to the latest Coinshares The digital asset fund flows a report.
“We believe that these external flows have caused a meeting of Congress with the President of the Federal Reserve, Jerome Powell, who pointed to a position more than the money policy, as well as inflation data in the United States exceeding expectations.”
Investment flows in Crypto contrast in a flagrant contradiction with the strong flows that were seen since the US elections, which reached a total of $ 29.4 billion over the course of 19 weeks, greatly exceeding $ 16 billion in the same period after the launch of the money circulated in the United States in January in January the past.
Immigration was primarily driven by US -based funds, which witnessed $ 464 million in external flows. On the contrary, some areas have succeeded in this direction, as Germany witnessed $ 21 million in flows, Switzerland and Canada adding 12.5 million dollars and $ 10.2 million, respectively.
Bitcoin Crypto Investment SEENS Lead Explows
The investment funds in the Bitcoin currencies focused on Bitcoin currencies in particular, as it achieved 430 million dollars in external flows, which reflects the sensitivity of the cryptocurrency of interest rates. Although the price of Bitcoin has decreased slightly, there was no increase in short bitten products, which themselves witnessed external flows.
Despite the total contraction, Solana Investment Products has seen $ 8.9 million in flows, the largest in any encrypted currency box, followed by XRP and SUI. Ethereum funds, which witnessed large flows in the previous week, swinging about $ 7 million flows.
