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Bitcoin and Ethereum Investment Products Bleed $400M as Inflation Concerns Grow

  • 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.

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