Bitcoin, Ethereum lead the way as crypto outflows surpass $500M

Crypto investment products saw massive inflows for the second consecutive week, CoinShares’ latest report revealed. According to the digital assets management, outflows last week were worth $584 million.had the highest outflows with$630 million. The report explained that the gloomy perception among investors and projected interest rate cut contributed to the capital flow.

Typically, this was supposed to bring about optimism. However, that did not happen as the report stated that, At press time, Bitcoin’s price was $60,028 after it briefly fell below $59,000. ETH, on the other hand, changed hands at $3,349.Mt.Gox is the defunct Bitcoin exchange that was hacked in 2011. It then went bankrupt in 2014, leading to a broader market collapse. If the distribution begins in July, there is a high chance that the recipients would sell off some of the coins.as predicted in some corners. For ETH, the anticipated live trading of the ETFs could save it from another round of correction.

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