On Could 2, European cryptocurrency funding agency CoinShares launched its newest “Digital Asset Fund Flows Weekly Report”, which declared that the digital asset market noticed bearish sentiment for the second week in a row, leading to outflows totaling $72 million. The report notes that the bearish sentiment could possibly be attributed to the probability of additional rate of interest hikes by the US Federal Reserve this week.
In line with the report, crypto market funds noticed outflows throughout all geographies and suppliers, significantly in Germany and Canada, the place outflows reached $40 million and $14 million, respectively.
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