Bitcoin leads $305 million outflows as strong US economic data hits crypto
Crypto investment products experienced outflows of $305 million last week, driven by negative sentiment and stronger-than-expected US economic data, which reduced the likelihood of a 50-basis point interest rate cut. Bitcoin faced the largest outflows, totaling $319 million, with major asset managers like Grayscale and ProShares reporting losses. Short Bitcoin investment products saw inflows of $4.4 million for two consecutive weeks. Ethereum lost $5.7 million, with trading volumes at only 15% of those during the US ETF launch week. Solana attracted $7.6 million in inflows, while blockchain equities gained $11 million, particularly in Bitcoin mining. VanEck estimates that Bitcoin miners could increase profits to nearly $14 billion by 2027 if they allocate 20% of their energy capacity to AI computation.
