#Novedades The cryptocurrency market is bleeding amid macroeconomic uncertainty

Post-election enthusiasm has waned following mixed reactions from investors to the White House Crypto Summit on March 7, as the realities of macroeconomic uncertainty and the political process settle in.

Despite lower than expected CPI inflation figures reported on March 12, the price of Bitcoin dropped immediately after the news.

Exchange-traded funds (ETFs) in the cryptocurrency market experienced four consecutive weeks of outflows starting in February and the early weeks of March, as traditional financial investors sought refuge in safe options.

According to CoinShares, outflows from cryptocurrency ETFs totaled $4.75 billion over the past four weeks, with BTC investment vehicles recording accumulated outflows of $756 million for the month.

Poor market sentiment and fears of an impending recession triggered a wave of panic selling that drove cryptocurrency prices down.

Since Trump's inauguration on January 20, Total3 market capitalization, a measure of the total cryptocurrency market capitalization excluding Ether

ETH

€1771

and BTC, has plummeted over 27% from more than $1.1 trillion to approximately $795 billion.