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.

Dogwifhat (WIF) price is on the verge of a potential breakout, with price action suggesting it could surpass the $3 mark. Today, WIF’s price has increased by 13%, making it one of the best-performing cryptos in the last 24 hours.

As traders closely monitor its movements, indicators hint at a sustained upward trajectory. This analysis explores the technical patterns supporting this bullish outlook and the key levels to watch.

Dogwifhat Volume Rises with the Price

At press time, WIF’s price stands at $2.68. Beyond its price increase, the meme coin has seen a notable surge in volume. According to Santiment, Dogwifhat’s trading volume has reached $719.31 million in the last 24 hours, signaling rising interest in the token as it continues its two-week comeback.

Typically, a rising price with falling volume is seen as a bearish signal, as it suggests weak liquidity behind the trend. However, WIF’s increasing price, coupled with its rising volume, strengthens its current uptrend. For the rally to continue, trading volume needs to keep climbing. If this momentum holds, WIF could push toward $3 or beyond.

Read more: 5 Best Dogwifhat (WIF) Wallets To Consider In 2024

Furthermore, the Weighted Sentiment around WIF, which was previously in the negative zone, has jumped to positive territory. Weighted Sentiment shows the level of positive or negative remarks about a cryptocurrency online.

When the reading rises, it indicates that there are more positive comments on social media than negative ones. Conversely, a negative rating suggests the opposite. With WIF’s Weighted Sentiment currently positive, this implies that demand for the token could increase, potentially driving the price higher.

WIF Price Prediction: $3 and More to Come

Based on the daily chart, WIF’s price is trading well above the Ichimoku Cloud. The Ichimoku Cloud is a collection of indicators that shows support, resistance, and spot trends. However, the cloud is the most important part of all the indicators.

Typically, when the price is below the cloud, the trend is bearish. However, at press time, the cloud is below WIF’s price, suggesting a bullish trend for the meme coin. Should this remain the same, the meme coin’s value could rise above the $2.82 resistance, possibly climbing to $3.22 in the short term. 

Read more: How To Buy Dogwifhat (WIF) and Everything Else To Know

However, WIF’s price might retrace if it fails to breach the overhead resistance. In that scenario, the meme coin could drop to $2.30.