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Crypto Inflows Reverse to $223 Million Amid FOMC and Economic Data Woes
Crypto Inflows Reverse to $223 Million Amid FOMC and Economic Data Woes
20
2
BTCCSquare news:
Crypto inflows surged to $883 million early in the week, nearing the $1 billion mark, before retreating to $223 million following the Federal Open Market Committee (FOMC) meeting. The reversal reflects investor caution as hawkish Fed signals and stronger-than-expected US economic data dampened enthusiasm.
Job cut announcements in July spiked 140% year-over-year, exceeding the four-year average. The weak labor market data introduces dovish implications for future Fed rate decisions, potentially influencing crypto market dynamics.
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