Bitcoin and Ethereum investment products have recorded the highest outflows since the start of the year, losing over $400 million in the past seven days.
The outflows are driven by uncertainty over US monetary policy, as Federal Reserve Chair Jerome Powell stated that the American Central Bank wasn't in a hurry to cut interest rates.
Despite the recent outflows, approximately $25 billion has been invested in crypto products since last October, with Bitcoin accounting for around 81% of the inflows.
Traders have reacted to the latest inflation report, with concerns about rising inflation impacting Bitcoin's performance, and predictions of a 51% chance of a rate cut in July.