Hawkish Fed Stance Triggers $360 Million Outflow from Digital Assets

Federal Reserve's Hawkish Stance Triggers Massive Crypto Outflows The crypto market faced a significant setback as Federal Reserve Chair Jerome Powell's hawkish comments triggered a 60 million outflow from digital asset funds, according to a report by CoinShares. Bitcoin ETFs were particularly impacted, experiencing major withdrawals as investors responded to the Fed's aggressive monetary policy stance. This negative sentiment has reverberated throughout the cryptocurrency ecosystem, with leading digital assets like Bitcoin and Ethereum facing selling pressure. The shift in investor sentiment underscores the vulnerability of the crypto market to macroeconomic forces, particularly the actions of central banks. As the Fed continues to tighten its policy to combat inflation, the cryptocurrency industry braces for further volatility and potential outflows in the near future.