Analysts: Amid heightened macroeconomic uncertainty, institutional investors are tightening their risk exposure.

The US spot Bitcoin ETF saw a net outflow of $708.7 million yesterday, the largest single-day outflow in nearly two months, while the Ethereum ETF saw a net outflow of $286.9 million. Amidst heightened macroeconomic uncertainty, institutional investors are further reducing their risk exposure. Rachael Lucas, a crypto analyst at BTC Markets, stated that Wednesday's outflows were more of a typical "risk-off" behavior. She pointed out that when the macroeconomic environment turns unfavorable, such as rising interest rates, escalating geopolitical risks, or a sudden increase in market volatility, institutional investors tend to be the first to withdraw funds from high-beta assets. This is not a signal of structural weakness, but rather institutions tightening their risk exposure before uncertainty sets in, and does not mean abandoning the crypto asset class altogether. (The Block)