#BTC and ETH spot ETFs see a net outflow exceeding $1.6 billion in a single week Rising interest rate expectations combined with ETF capital outflows put pressure on BTC and ETH last week
According to the latest capital data, interest rate hike expectations have resurfaced, coupled with continuous spot ETF outflows, causing the two major mainstream cryptocurrencies to weaken simultaneously last week, with market risk aversion sentiment clearly rising.
BTC fell 3.2% last week, retreating to around $83,000; the US spot BTC ETF saw a net outflow of about $679 million in a single week, marking the largest weekly outflow since June.
ETH faced even more pressure, dropping 7.0% for the week, corresponding to a spot ETF outflow of $542 million, compounded by ecosystem-related negative news, resulting in heavier selling pressure than BTC.
Overall, rising US Treasury yields continue to suppress risk assets, with a single-day liquidation near Thursday's low reaching as high as $1.19 billion, including $1.06 billion in long position liquidations, indicating a concentrated purge of bulls. The US stock market's S&P index strengthened against the trend, highlighting a capital diversion effect. If the capital outflow trend continues in the short term, the market is unlikely to recover quickly.
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