Crypto Outflows Despite Soltane’s Surge – Hawkish Fed Fuels Uncertainty

Investment products in the cryptocurrency market saw a notable outflow of $360 million last week, driven by investor reactions to Federal Reserve Chair Jerome Powell’s cautious remarks regarding potential future rate cuts. While Wednesday’s rate reduction was anticipated, Powell’s statement that another one could be on the table in December created uncertainty among market participants, according to CoinShares’ report published Monday.