Bitcoin Sees $430 Million Outflows Amidst Hawkish Fed Signals, While Solana and XRP Attract Inflows

Last week, crypto investment products experienced a significant shift, with CoinShares reporting $415 million in outflows, ending a 19-week inflow streak. Bitcoin bore the brunt, with $430 million in outflows, triggered by hawkish comments from US Federal Reserve Chair Jerome Powell and higher-than-expected inflation data. Despite Bitcoin's struggles, Solana saw $8.9 million in inflows, XRP $8.5 million, and Sui $6 million. Blockchain equities also gained $20.8 million. The US accounted for $464 million in outflows, while Germany, Switzerland, and Canada saw inflows. This Monday, Bitcoin briefly dipped to $95,000 and currently trades at $96,451, a 0.3% daily decline and 11.4% drop from its January high, wiping out $4 billion from the crypto market. The overall crypto market cap is now $3.34 trillion, a 2% decrease. Ethereum, however, bucked the trend, rising 3.8% to $2,790.