TechFlow News: On May 15, CoinShares tweeted that the cryptocurrency market recorded $920 million in net outflows this week. In the short term, macroeconomic headwinds continue to dominate the market: PPI data came in higher than expected, U.S.-Iran tensions pushed oil prices higher, and the Federal Reserve’s room for rate cuts remains constrained—Bitcoin fell 1.4% this week. Meanwhile, the U.S. Senate Banking Committee passed the Clarity Act by a vote of 15 in favor and 9 opposed, clarifying the long-term regulatory direction. CoinShares noted that the market is currently caught in a tug-of-war between short-term macroeconomic pressures and long-term regulatory tailwinds.
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