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Data collected by crypto ETP provider CoinShares indicates that the crypto market witnessed the largest weekly outflows since March amid falling prices.
Crypto investment products faced outflows exceeding $725 million last week, matching the largest recorded outflow since March.
In a Sept. 9 <a href="https://blog.coinshares.com/volume-199-digital-asset-fund-flows-weekly-report-a03547e1f95d" target="_blank" rel="noopener noreferrer nofollow">research report</a>, CoinShares head of research James Butterfill attributed this dynamic to stronger-than-expected macroeconomic data from the previous week, which increased speculation about a potential 25 basis point interest rate cut by the U.S. Federal Reserve.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “The markets are now awaiting Tuesday’s Consumer Price Index inflation report, with a 50bp cut more likely if inflation comes in below expectations.”
 James Butterfill, CoinShares head of research
</blockquote>
The data shows that outflows were mainly concentrated in the U.S., which saw a net withdrawal of $721 million, while Canada-based products witnessed outflows of $28 million. In contrast, European markets showed more positive sentiment, with Germany and Switzerland recording inflows of $16.3 million and $3.2 million, respectively.
<h2 class="wp-block-heading" id="bitcoin-stuck-in-fear-zone">Bitcoin stuck in fear zone</h2>
Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) saw the largest outflows at $643 million, while short-bitcoin had small inflows of $3.9 million. Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) lost $98 million, mainly from the Grayscale Trust, as exchange-traded fund inflows slowed. Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="noopener noreferrer nofollow">SOL</a>) stood out with $6.2 million in inflows, the highest among digital assets.
Bitcoin also <a href="https://crypto.news/bitcoin-reaches-55k-as-exchange-net-flows-plunge/" target="_blank" rel="noopener noreferrer nofollow">saw</a> a sharp decline in exchange activity, with daily inflows dropping 68% from 68,470 BTC to 21,742 BTC, and outflows falling 65% from 65,847 BTC to 22,802 BTC. Data from Alternative shows that the Crypto Fear and Greed Index hit 26, its lowest point in over a month, signaling heightened investor anxiety and a more cautious market sentiment.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/widespread-negative-crypto-sentiment-evident-across-regions-coinshares-says/"> Widespread negative crypto sentiment ‘evident’ across regions, CoinShares says </a>

Crypto products see second-biggest weekly outflows in 2024: CoinShares

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