Institutional investors just sold $945.89 million in Bitcoin thanks in part to Fed Chair Jerome Powell, according to a new update from Coinshares.
Overall, crypto outflows hit $360 million last week despite a fresh US interest rate cut.
[adinserter block="1"]CoinShares says investors appeared to react to Powell’s hawkish comments, with the market now viewing another rate cut in December as uncertain.
By region, the US led with $439 million in outflows while Europe bucked the trend, with Germany recording $32 million in inflows and Switzerland added $30.8 million.
Asset breakdowns show stark contrasts.
Although Bitcoin ETFs reached nearly $1 billion million in outflows, Solana surged with $421.11 million in inflows, its second-largest weekly haul.
Meanwhile, Ethereum witnessed $57.59 million in inflows with XRP clocking $43.18 million in inflows, highlighting mixed overall sentiment among Wall Street investors.
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