Investment products centered around cryptocurrencies witnessed a significant outflow of $584 million, resulting in consecutive losses for the second week in a row. As a consequence, the overall value of crypto asset investments decreased by a total of $1.2 billion over this time period. The main driver behind this decline seems to be investor skepticism surrounding the possibility of interest rate reductions by the Federal Reserve (FED) in the coming months. The anticipation of the FED maintaining or potentially increasing interest rates has dissuaded investors, prompting them to pull their funds out from these particular products.
