Last week saw a significant pullback in crypto investment products, with total outflows reaching $454 million. Bitcoin bore the brunt of selling pressure, recording $405 million in withdrawals alone. The shift reflects growing investor caution amid changing expectations around Federal Reserve policy. Market participants had been pricing in a potential rate cut as early as March, but recent economic data and Fed commentary have dimmed those prospects considerably. This recalibration of rate expectations is rippling through asset classes—crypto included. When investors reassess macro conditions and reduce exposure to risk assets, digital currency holdings often face redemption pressure first. The data underscores how sensitive crypto flows remain to Fed policy signals and broader monetary policy shifts.