Data: CoinShares reports $920 million in net outflows from the cryptocurrency market this week
ChainCatcher reports that CoinShares released a tweet stating that the cryptocurrency market recorded a net outflow of $920 million this week. In the short term, macro headwinds continue to dominate the market: the PPI data exceeded expectations, the US-Iran conflict drove up oil prices, and the Federal Reserve's room for rate cuts is limited. Bitcoin fell 1.4% this week.
Meanwhile, the US Senate Banking Committee passed the Clarity Act with 15 votes in favor and 9 against, making long-term regulatory direction increasingly clear. CoinShares pointed out that the market is currently facing a battle between short-term macro pressures and long-term regulatory benefits.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Singapore Dollar: Downtrend seen limited against US Dollar – UOB
A Strong Warning from a Macro Strategist: “Don’t Let Bitcoin’s Rise Fool You…”
Aptiv Shares Fall After JPMorgan Downgrade
Banco Santander Brasil Shares Fall After HSBC Downgrade
