Cryptocurrency

FOMC

Bitcoin

Million

Cryptocurrency investment products experienced a significant decline last week, with a total outflow of $600 million.
This would mark the largest outflow since March 22, 2024, and is likely a response to a more hawkish than expected Federal Open Market Committee (FOMC) meeting. The meeting led investors to reduce their exposure to fixed supply assets.
Outflows focused entirely on Bitcoin and an outflow of $621 million was seen. This bearish trend also resulted in an inflow of $1.8 million into short Bitcoin positions.
Despite the overall outflows, a wide range of altcoins saw inflows. These were led by Ethereum, LIDO and XRP, which received inflows of $13 million, $2 million and $1 million, respectively.
Here are the net inflows or outflows of altcoins in the last week:
<ul>
 <li>ETH – +$13.1 million</li>
 <li>LEFT – -0.2 million dollars</li>
 <li>BNB – +$0.3 million</li>
 <li>LTC – +$0.8 million</li>
 <li>XRP – +$1.1 million</li>
 <li>ADA – +$0.7 million</li>
 <li>LINK – +$0.8 million</li>
 <li>Other altcoins – +$4.1 million</li>
</ul>
This overall upward trend reflects a similar event that occurred on March 22, 2024. At the time, significant inflows were followed by a hawkish FOMC meeting that encouraged investors to reduce their exposure to fixed supply assets. These outflows, combined with recent price sell-offs, saw total assets under management (AuM) fall from over $100 billion to $94 billion during the week.
Related News: <a href="https://en.bitcoinsistemi.com/developers-of-this-altcoin-unlocked-a-huge-amount-of-tokens-today-they-immediately-moved-it-to-coinbase/" target="_blank" rel="noopener noreferrer nofollow">Developers of this Altcoin Unlocked a Huge Amount of Tokens Today: They Immediately Moved It to Coinbase</a>
Transaction volumes were lower at $11 billion compared to this year's weekly average of $22 billion. However, this figure is still well above the $2 billion per week seen last year. Digital asset ETFs maintain a steady 31% of global trading volumes on trusted exchanges.
Regionally, the negative sentiment wasn't focused solely there, with the U.S. accounting for most of the $565 million total outflows. Canada, Switzerland and Sweden saw outflows of $15 million, $24 million and $15 million, respectively. It was Germany that changed this trend with an inflow of $17 million.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bitcoin-funds-see-outflows-of-621-million-in-the-last-week-while-these-6-altcoins-see-net-fund-inflows/" rel="noopener noreferrer nofollow">Bitcoin Funds See Outflows of $621 Million in the Last Week While These 6 Altcoins See Net Fund Inflows</a>

Bitcoin Funds See Outflows of $621 Million in the Last Week While These 6 Altcoins See Net Fund Inflows

Bitcoin Sistemi EN

Other articles published on Jun 17, 2024

BlockDAG Captures The Lead On CoinSniper After An Impressive 1120% Price Jump Amid Polkadot Decli...

Trending Tokens on CoinMarketCap that may go 10X (How to Snip Hidden Gems)

LayerAI’s Innovation BrowseWeb3: Your All-In-One Solution

Shiba Inu (SHIB) Holders Receive Critical Alert, Why this Ethereum DeFi Platform Could be the Onl...

JasmyCoin Price Prediction: Here’s What Could Drive JASMY To $1 By July

BlockDAG’s Keynote 2 Sparks an 1120% Increase Amid Rising Prices of Toncoin and Celestia (TIA) Pe...

Join our free newsletter for daily crypto updates!