The release of higher-than-expected inflation data raised market concerns, suggesting the Federal Reserve may tighten monetary policy, impacting cryptocurrency liquidity negatively.
The increase in unemployment claims adds uncertainty to the economic outlook, potentially causing investors to reassess their strategies and shift toward safer assets.
A net outflow of $59 million from Bitcoin-related financial products indicates growing fear among investors, who may prefer to withdraw from high-risk assets amid economic uncertainty.
The recent SEC lawsuit against Cumberland further complicates investor trust in the cryptocurrency market, as legal issues can deter participation and add to market volatility.
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