Affected by factors such as a large outflow of funds from digital asset investment products, Bitcoin fell to a one-month low today

Odaily News Bitcoin fell to a one-month low today as outflows from digital asset investment products and the prospect of rising long-term borrowing costs in the United States affected the cryptocurrency market. CoinShares data showed that digital asset investment products had a total outflow of $600 million last week, the highest outflow since March. In addition, inflation data has led traders to lower their expectations for the Federal Reserve to cut interest rates this year, which poses a challenge to speculative investments such as cryptocurrencies. Stocks and bonds have returned higher than Bitcoin this quarter, a reversal from the three months ending in March, when digital assets performed significantly better than traditional markets. (Bloomberg) Yesterday, CoinShares' latest weekly report showed that digital asset investment products had a total outflow of $600 million last week, the largest outflow since March 22, 2024. In addition, the outflow of funds was entirely concentrated in Bitcoin, with an outflow of $621 million. Bearish sentiment also led to an inflow of $1.8 million into Bitcoin short positions. Various altcoins saw inflows, with Ethereum, LIDO, and XRP ranking in the top three with inflows of $13 million, $2 million, and $1 million, respectively.