Ethereum

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-lead-crypto-product-exits-due-to-strong-us-economic-data/" data-wpel-link="internal">Investors Lead Crypto Product Exits Due to Strong US Economic Data</a><br></p>
<p class="p1" style="text-align: justify">In recent months, after notable weekly entries, cryptocurrency investment products began seeing significant exits due to strong economic reports in the United States. Crypto asset investment products saw total outflows of $305 million, driven by stronger-than-expected economic <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> in the US, as stated in the latest Crypto Asset Fund Flow Report published on September 2 by Coinshares.</p> 
<h2 class="p1" style="text-align: justify" id="what-is-happening-in-the-crypto-market">What is Happening in the Crypto Market?</h2> 
<p class="p1" style="text-align: justify">The report shows that between August 24 and August 31, US investors led the world in the number of sold crypto investment products, with total outflows of $318 million. Germany and Sweden had smaller outflows of $7.3 million and $4.3 million, respectively. On the other hand, Switzerland and Canada saw slight inflows of $5.5 million and $13.2 million, respectively.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384962 size-full" src="https://coin-turk.com/wp-content/uploads/2024/09/coinshares.webp" alt="" width="809" height="529"></p> 
<p class="p1" style="text-align: justify">On August 30, the US Department of Commerce reported that the Personal Consumption Expenditures (PCE) price index increased by 0.2% month-over-month and 2.5% year-over-year. As consumer spending is seen as a key driver of economic growth in the US, the PCE is considered one of the inflation measures preferred by the US Federal Reserve, which is expected to reduce <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rates</a> for the first time in over four years.</p> 
<p class="p1" style="text-align: justify">The report came with expected market rate cuts in September. The PCE report implied a 24 basis point cut and reduced the likelihood of a 50 basis point cut. Coinshares shared the following statement in their latest report:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“As the Fed approaches a pivot, we expect the asset class to become increasingly sensitive to interest rate expectations.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384960" src="https://coin-turk.com/wp-content/uploads/2024/09/nilesh.webp" alt="" width="500" height="464"></p> 
<h2 class="p1" style="text-align: justify" id="details-on-the-subject">Details on the Subject</h2> 
<p class="p1" style="text-align: justify">According to Coinshares’ latest report, Bitcoin-focused investment products experienced the largest outflows last week, totaling $319 million. At the same time, short Bitcoin investment products saw a second weekly inflow of $4.4 million, the largest since March 2024.</p> 
<p class="p1" style="text-align: justify">Crypto investment products in <a href="https://en.coin-turk.com/grayscale-discusses-bitcoin-etf-success-and-plans-for-ethereum-etf/" data-wpel-link="internal">Ethereum</a> saw outflows of $5.7 million, continuing a downward trend despite the launch of the Ethereum ETF in the US on July 23, 2024. The report included the following statement on the subject:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“Blockchain equities influenced the trend and saw inflows of $11 million, particularly notable in investment products specific to Bitcoin miners.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384959 size-full" src="https://coin-turk.com/wp-content/uploads/2024/09/coin.webp" alt="" width="808" height="573"></p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/investors-lead-crypto-product-exits-due-to-strong-us-economic-data/" data-wpel-link="internal">Investors Lead Crypto Product Exits Due to Strong US Economic Data</a></h5>
<p>The post <a href="https://en.coin-turk.com/investors-lead-crypto-product-exits-due-to-strong-us-economic-data/" data-wpel-link="internal">Investors Lead Crypto Product Exits Due to Strong US Economic Data</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Investors Lead Crypto Product Exits Due to Strong US Economic Data

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