🧵 1. Crypto products suffer significant $726 million outflows as institutional investors pull back amid uncertainty over potential US Federal Reserve rate cuts. #crypto
🧵 1. Crypto products suffer significant $726 million outflows as institutional investors pull back amid uncertainty over potential US Federal Reserve rate cuts. #crypto
🧵 2. Institutional crypto investment products, primarily in Bitcoin and Ethereum, experience outflows; Solana sees largest inflows amidst market volatility.
🧵 3. Outflows mainly driven by stronger economic data, leading to speculation over future interest rate cuts; market opinions divided on potential 50bp cut.
🧵 4. US region witnesses major outflows at $721 million, with Canada following at $28 million; Germany and Switzerland provide minor inflows during the period.
🧵 5. CoinShares report highlights the impact of macroeconomic factors on digital asset investment products; market awaits Consumer Price Index inflation report for further direction.
🧵 Read more at: https://dailyhodl.com/2024/09/09/crypto-products-suffer-720000000-in-outflows-amid-rate-cut-uncertainty-coinshares/