Last week, big money flowed into crypto investments, with a whopping $533 million pouring in. This surge was likely triggered by comments from Federal Reserve Chair Jerome Powell, who hinted at possible interest rate cuts.
Bitcoin Leads the Charge
Bitcoin was the biggest beneficiary, seeing $543 million in inflows. This shows how sensitive Bitcoin is to interest rate expectations. The US saw the most investment, with $498 million flowing in, followed by Hong Kong and Switzerland.
Ethereum Takes a Dip
Ethereum, on the other hand, saw $36 million in outflows. However, new Ethereum ETFs continue to attract investors, offsetting some of the losses.
The Bottom Line
The recent influx of money into crypto products suggests that investors are optimistic about the future of the market, particularly in light of potential interest rate cuts.
