Recent digital asset investment markets have experienced significant fluctuations. According to the latest data, last week’s digital asset investment products faced a net outflow of $454 million. More notably, the cumulative outflow over the past four days has reached $1.3 billion — nearly offsetting the net inflow increase since the beginning of the year.

The main reason for the outflows points to expectations of Federal Reserve rate cuts. As the rate cut expectations weaken, investor enthusiasm for risk assets has noticeably declined. In terms of regional distribution, the US market experienced the most significant outflows, with a weekly outflow of $569 million. In contrast, some regions in Europe and North America still maintained net inflows — Germany with $58.9 million, Canada with $24.5 million, and Switzerland with $21 million.

This divergence reflects differing market judgments on macroeconomic prospects. The performance of mainstream digital assets like Bitcoin and Ethereum largely depends on global central bank policy trends, especially the Federal Reserve’s interest rate policy trajectory.