CandleFocus

Crypto products post heavy outflows amid August decline in US unemployment rate

Crypto ETFs experienced their highest outflows since March, with a total of $725.7 million being withdrawn. This is believed to be due to the disappointing Nonfarm Payroll report from last week. Bitcoin ETFs were the most affected, with outflows totaling $643 million. The US and Canada saw the largest net outflows, while Germany and Switzerland experienced inflows. The decline in BTC's price follows lower-than-expected job growth in August. Investors are now focused on the upcoming US Consumer Price Index data report and the US presidential debate, where Donald Trump has expressed support for Bitcoin. Short-bitcoin ETFs saw inflows, while Ethereum saw further outflows and Solana products saw inflows.

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