Ethereum

Solana

United

Bitcoin

As per the latest report from CoinShares, crypto investment products saw an outflow of $305 million last week. The figure shows the stark opposite of the inflows from the week prior.
Crypto funds enjoyed a total <a href="https://www.cryptopolitan.com/crypto-fund-inflows-reach-533m/" rel="noopener noreferrer nofollow">inflow</a> of $533 million the week before and a muted inflow of $30 million in the week prior. Last week’s surge in inflow was mainly due to Jerome Powell’s remark about the possibility of a September rate cut.
However, the <a href="https://blog.coinshares.com/volume-198-digital-asset-fund-flows-weekly-report-103ff715bd07" target="_blank" rel="noopener noreferrer nofollow">CoinShares</a> report shows that crypto funds witnessed an outflow of $305 million coupled with major negative sentiment in various regions and providers.
<h3 id="crypto-funds-outflow-mainly-due-to-stronger-us-economic-data">Crypto funds outflow mainly due to stronger US economic data</h3>
CoinShares mentioned in the report that the outflows from last week are primarily because of the stronger-than-expected economic data in the US. This has minimized the expectation of a 50 basis point rate cut in September.
<blockquote>
 “We continue to expect the asset class to become increasingly sensitive to interest rate expectations as the FED gets closer to a pivot,” CoinShares said.
</blockquote>
Coming from a regional perspective, the United States saw an outflow of $318 million. Germany and Sweden followed suit with a minor outflow of $7.3 million and $4.3 million, respectively. On the other hand, Switzerland and Canada enjoyed minor inflows of $5.5 million and $13 million, respectively.
<h3 id="bitcoin-saw-negative-sentiment-with-319-million-outflows">Bitcoin saw negative sentiment with $319 million outflows</h3>
According to CoinShares, the majority of the negative sentiment revolved around Bitcoin. BTC saw an outflow of $319 million in the last week. However, short Bitcoin investments witnessed a second consecutive week of inflow at $4.4 million.
Ethereum couldn’t escape from the outflow. The second largest cryptocurrency saw an outflow of $5.7 million. While ETH saw an outflow, Solana enjoyed a $7.6 million in inflow.
CoinMarketCap <a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow" target="_blank">data</a> shows that Bitcoin and Ethereum started off on a negative note this week, with the whole market trading in the red. Bitcoin fell as low as $57,000, while Ethereum dropped to $2,400.
The global crypto market cap has also nosedived by 1% as the top cryptocurrencies lose single-digit value in the last 24 hours.

Crypto funds witness $305M outflows: Bitcoin shows negative sentiment

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