Investors Pull Funds from Digital Assets Amid Fed Uncertainty

Recent data reveals substantial withdrawals from digital asset investment products, totaling $360 million last week according to a CoinShares report. This trend is fueled by investor reactions to statements made by U.S. Federal Reserve Chair Jerome Powell regarding potential interest rate cuts in December, contributing to market volatility. The United States accounted for the largest outflow, with $439 million withdrawn from digital asset investments. Bitcoin ETFs were particularly affected, experiencing outflows of $946 million, likely due to rising interest rates concerns.