Crypto investments recorded outflows reaching $147 million last week, interrupting a steady series of positive flows since September 9.

The change in sentiment comes on the back of signs of a booming US economy, diluting the previously concentrated expectation of significant rate cuts from the Federal Reserve (Fed).

Crypto Investment Inflows Series Interrupted

The latest CoinShares report shows digital asset investment outflows reached $147 million last week. Bitcoin was at the forefront of the negative flows, recording $159 million in outflows. Ethereum (ETH) also saw outflows of $28.9 million.

With the US leading by outflows on regional metrics, the research ascribes the change in sentiment to strong economic data in the country.

“Digital asset investment products saw minor outflows totaling $147 million last week. Higher than expected economic data last week, reducing the probabilities for significant rate cuts are the likely reason for the weaker sentiment amongst investors,” a paragraph in the report read.

Read more: How To Trade a Bitcoin ETF: A Step-by-Step Approach

A key highlight in last week’s US economic data was the positive jobs report released on Friday. The US economy added 254,000 non-farm payroll jobs in September, nearly double the 142,000 reported in August. This figure surpassed economists’ predictions, who expected up to 140,000 jobs.

The unemployment rate also dropped to 4.1%, defying expectations of 4.2%, similar to August’s data. Strong job growth and rising wages signal a tightening labor market, which could exert further pressure on inflation.

These reports put US jobs data back in focus as the Federal Reserve considers its next interest rate decision. The Fed’s dual mandate includes maximum sustainable employment and price stability.

In response, the CME FedWatch Tool shows an 86.3% probability of a 50 basis point (0.5%) rate cut, compared to 13.7% for a 25 bps cut. After the last 50 bps cut, the market expects another significant policy adjustment to address economic pressures.

However, traders should monitor additional Fed signals and key economic data this week, including the Consumer Price Index (CPI), Producer Price Index (PPI), and initial jobless claims. If the data points to a strengthening economy, odds could shift towards a 25 bps rate cut in November.

Read more: How to Protect Yourself From Inflation Using Cryptocurrency.

While Bitcoin and Ethereum recorded negative outflows, multi-asset investment products (multi-coin) extended their streak to 16 consecutive weeks of inflows, totaling $29 million last week. This continued interest comes as macroeconomic data presents a mixed picture for cryptocurrencies.

Positive economic indicators, such as strong job growth and falling inflation, typically boost risk assets like Bitcoin. However, rising oil prices and geopolitical tensions in the Middle East are fueling renewed inflation concerns, adding uncertainty to the market. These dynamics help explain Bitcoin’s stall around the $63,000 mark, as investors shift toward multi-asset products.

“Since June, multi-asset products have been a favorite among investors who prefer to invest in a diversified basket of assets rather than individual ones,” the CoinShares report concluded.

BeInCrypto data shows Bitcoin trading at $62,988, reflecting a modest 1.38% gain since Monday’s session opened.

Three project are launching enticing crypto airdrops this week, offering investors a chance to get in on the ground floor without any initial financial investment.

Airdrop farmers can capitalize on the following participation opportunities from with renowned investors backing these three projects.

Xterio: Bringing Free Gameplay To Blockchain

Xterio combines free-to-play gaming with blockchain technology while delivering Web3 digital ownership. The project’s co-founder, Jeremy Horn, already hinted at multiple bullish plans in Q4 in his report on the Token 2049 experience in Singapore.

“I’m confident that Xterio’s strong Q4 lineup will help move the space forward, demonstrating how solid fundamentals and Web3 incentives can sustainably support a token ecosystem’s growth,” Horn wrote.

Participants start by signing up and playing the Age of Dino mini-game, among other activities, to earn XTER points and ROAR rewards. Xterio already announced a dashboard where airdrop participants can check their points for activities in the project ecosystem.

Read more: What are Crypto Airdrops?

Players earn rewards by participating in exciting activities, including gameplay, and collecting NFTs (non-fungible tokens), with the game’s powering token, XTER, to be airdropped after the token generation event (TGE).

Vana: AI and Data Ownership Combined

The project meets players at the intersection between artificial intelligence (AI) and data ownership, leveraging a decentralized Layer-1 blockchain. It empowers individuals to own, govern, and monetize their data, shifting control from big tech to the people.

Allowing users to explore and control their digital identities, Vana launched its mini-app on Telegram, for participants to mine and earn VANA tokens. Users can create their “Digital Self” using their Virtual DNA (VNA) to personalize experiences in the “Vanaverse.”

Participants need to launch the Vana Data Hero Bot on Telegram and link their TON wallet. To earn VANA points, they must complete various VANA challenges, such as tapping, inviting friends, and playing games.

Neon: The First Parallelized EVM on Solana

The project advertises itself as the first parallelized Ethereum Virtual Machine (EVM) on Solana, where developers can build and launch Ethereum-native dApps from their existing codebase.

Neon mainnet airdrop is already confirmed after garnering up to $45 million in funds led by Jump Capital. Other backers include Solana Ventures, IDEO CoLab Ventures, Rockaway X, Three Arrows Capital, and Ethereal Ventures.

Participants complete tasks to qualify for potential airdrops and rewards, including following instructions and tracking task updates and statuses. Unlike Vana and Xterio, Daily on-chain activities are tracked and rewarded in Neon Points based on the number of daily transactions and total transaction value.

Read more: Best Upcoming Airdrops in 2024

First-time Neon users need to bridge funds into the Neon ecosystem by adding the Neon network to their EVM wallet. Solana users, on the other hand, can use NeonPass to transfer their Neon tokens into the ecosystem. Meanwhile, EVM users can utilize deBridge to transfer their funds to Neon.

Meme coin season appears to be back in full swing, with several tokens registering notable double-digit hikes. Leading the charge are cat-themed Popcat (POPCAT), Ethereum-based Mog Coin (MOG), and First Neiro on Ethereum (NEIRO).

As of this writing, POPCAT’s price has increased by 15% in the last 24 hours, while MOG jumped by 18.40%. NEIRO, on the other hand, recorded a better performance with a 46.60% hike within the same period. With interest in these tokens rising, this analysis evaluates if the rallies will continue and help meme coins reclaim the spotlight.

Popcat Continues to Climb But Could Retrace

On Saturday, October 5, BeInCrypto reported that POPCAT hit a new all-time high of $1.29. Today, the price has surpassed that, reaching $1.43. This increase signals strong investor interest in the meme coin.

The 4-hour chart reveals resistance at $1.48. Additionally, the Relative Strength Index (RSI), which measures momentum, stands at 72.05. An RSI reading above 70.00 indicates that a cryptocurrency is overbought, suggesting a potential price drop.

In POPCAT’s case, a pullback toward $1.28 seems possible. However, if bulls maintain pressure, the token’s price could climb further, potentially reaching $1.60.

Read more: How to Buy Solana Meme Coins: A Step-By-Step Guide

Mog Coin Sets Sights on $0.0000020

Unlike Popcat, MOG’s price increase to $0.0000016 did not lead the meme coin to a new all-time high. However, the token has the potential to hit a higher value in the short term. On the daily chart, the Moving Average Convergence Divergence (MACD) is positive.

The MACD gauges momentum and identifies periods for buying or selling a cryptocurrency. When the reading is positive, momentum is bullish. Conversely, a negative MACD reading indicates a bearish momentum.

Since it is the latter, MOG’s price might continue to climb. If the momentum remains the same, the MOG’s value could hit $0.0000020 in the short term. Meanwhile, if buying pressure decreases, this prediction might come to pass. Instead, the token’s price could drop to $0.0000014.

NEIRO’s Bullish Momentum to Subside

First Neiro on Ethereum (NEIRO) also hit a new all-time high. But as soon as the meme coin hit $0.0015, it pulled back. Following the decline, the Balance of Power (BoP) also dropped. The BoP is a price-based indicator used to evaluate the overall strength of buyers and sellers in the market. 

Furthermore, the indicator oscillates around the zero line, where positive values indicate bullish dominance and negative values indicate bearish ones. As of this writing, the BoP on NEIRO’s 4-hour chart is down to -0.32, suggesting that bears have the upper hand.

Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024

Should this continue, NEIRO’s price might soon decline to $0.0012. However, if bulls reclaim dominance, the current price trend might turn around, and the meme coin’s value could jump past $0.0016.