TechFlow news, according to CoinShares' latest weekly report, digital asset investment products saw outflows totaling $600 million last week—the largest outflow since March 22, 2024—likely due to the FOMC meeting adopting a more hawkish stance than expected, prompting investors to reduce exposure to fixed-supply assets.
The outflows were entirely concentrated in Bitcoin, which saw outflows of $621 million. Bearish sentiment also drove $1.8 million into short Bitcoin positions.
Several altcoins saw inflows, led by Ethereum, LIDO, and XRP, which received $13 million, $2 million, and $1 million respectively.
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