Bitcoin ETFs and digital asset investment products suffered their highest level of net outflows since March last week, according the CoinShares' latest data.

In total, $726 million flowed out of the funds. Most of the money, $643 million, fled bitcoin investment products as investors stacked up selling pressure over a record eight straight days of outflows.

Ethereum investment products didn't fare much better — seeing $98 million in outflows for the week.

"We believe this negative sentiment was driven by stronger-than-expected macroeconomic data from the previous week, which increased the likelihood of a 25 basis point (bp) interest rate cut by the US Federal Reserve," wrote CoinShares analyst James Butterfill. "The markets are now awaiting Tuesday’s Consumer Price Index (CPI) inflation report, with a 50bp cut more likely if inflation comes in below expectations."

Bitcoin ETFs experienced net outflows every day for eight consecutive days. That's the first time that has occurred since the ETFs began trading back in January, according to Bloomberg.