Last week, digital asset investment products saw an outflow of $430 million

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According to CoinShares, digital asset investment products experienced a massive outflow of $415 million last week, the first time after 19 consecutive weeks of inflows. Bitcoin, which is highly sensitive to interest rate expectations, saw an outflow of $430 million. CoinShares believes this outflow was triggered by the meeting between Congress and Federal Reserve Chair Jerome Powell, where Powell signaled a more hawkish monetary policy stance, coupled with higher-than-expected US inflation data.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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