Andrew Goncharow
@gazuz
Cryptocurrency investment products have seen large outflows amid strong US economic reports. 🔽The crypto market saw outflows totaling $305 million last week, driven by stronger-than-expected US economic data, according to a report from CoinShares. The report says that US investors were the main sellers of investment products from August 24 to August 31, with outflows totaling $318 million. 🇺🇸The recent PCE index has risen 0.2% on the month, and is also up 2.5% year-over-year. The positive data has reduced the likelihood of a 50 bp rate cut. 🚀A 50 bp rate cut is important for the crypto market to grow September 18.
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