The digital asset market has experienced its first net outflow in 15 weeks, putting a brake on the recent rally. In particular, Bitcoin (BTC) investment products saw approximately $404 million (about 560.6 billion won) withdrawn over the week, reflecting a subdued investment sentiment across the market.
According to the weekly report released by CoinShares, a total of $223 million (about 310 billion won) was net outflowed from digital asset investment products this week. While there were expectations of an inflow of $883 million (about 1.2279 trillion won) early in the week, the Federal Open Market Committee's hawkish stance and strong economic indicators triggered risk-averse tendencies among investors, leading to a sharp reversal.
Particularly on Friday, despite expectations of a shift in the Federal Reserve's monetary policy due to weak US employment indicators, over $1 billion (about 1.39 trillion won) exited the market in a single day. However, experts interpret this decline as a profit-taking adjustment rather than a collapse of market confidence, given that $12.2 billion (about 16.958 trillion won) has been injected over the past 30 days this year.
Amid this market turmoil, Ethereum (ETH) maintained its strength, recording a net inflow of $133 million (about 184.9 billion won) and continuing its unprecedented 15-week consecutive net inflow streak. CoinShares analyzed that unlike Bitcoin, which is sensitive to monetary policy changes, Ethereum showed strong resilience due to its more diverse demand base.
Other major altcoins also showed a solid trend. XRP saw an inflow of $31.3 million (about 43.5 billion won), Solana (SOL) $8.8 million (about 12.2 billion won), and Sei $5.8 million (about 8.1 billion won). ADA and Aave recorded slight inflows of $1.3 million (about 1.8 billion won) and $1.2 million (about 1.7 billion won) respectively, while Sui and Litecoin (LTC) saw outflows of $800,000 (about 1.1 billion won) and $200,000 (about 300 million won). Multi-asset products also experienced an outflow of $4.8 million (about 6.7 billion won).
From a geographical perspective, the capital flow showed clear polarization. The United States saw a massive outflow of $383 million (about 532.9 billion won), with Germany and Sweden experiencing outflows of $35.5 million (about 49.4 billion won) and $33.3 million (about 46.3 billion won) respectively. In contrast, Hong Kong emerged as the center of global digital asset investment inflow with $170.4 million (about 236.8 billion won), while Switzerland, Canada, and Australia also recorded slight net inflows of $52.4 million (about 72.9 billion won), $12.4 million (about 17.2 billion won), and $7.6 million (about 10.6 billion won) respectively.
The prevailing interpretation is that this is a healthy adjustment following the recent rapid asset inflow. However, considering the market's sensitivity to monetary policy and macroeconomic variables, future trends are likely to continue to be heavily influenced by the Federal Reserve's stance and economic indicators.
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