$414mln exits crypto funds – Why sentiment is suddenly shifting
In the last week of March, cryptocurrency investment products experienced significant outflows totaling $414 million, marking the first net withdrawals in five weeks. This shift was driven by escalating global tensions, high inflation, and anticipation around Federal Reserve meetings, reducing total assets under management to $129 billion. Ethereum was hit hardest with $222 million in outflows, while Bitcoin saw $194 million withdrawn despite strong year-to-date inflows. Solana also recorded outflows, whereas XRP was the sole asset with inflows of $15.8 million. On-chain metrics showed reduced network engagement for major cryptocurrencies. The U.S. led outflows with $454 million, while Canada and Germany saw modest inflows. Despite a recent market cap rebound to $2.34 trillion, short-term volatility remains high due to macroeconomic uncertainty, cautioning investors against relying on temporary rallies for long-term predictions.
ambcrypto03/31 07:29