Cryptocurrency markets slid less than 1% Monday, with Bitcoin trading sideways afer it had its worst seven days in four weeks. Bitcoin (BTC) edged up by 0.4% to trade at $58,379, while Ethereum (ETH) increased by 1.6% to $2,510 at noon Eastern Time. The largest and second-largest cryptocurrencies declined 9% and 9.8% last week, respectively, their biggest weekly drop since the seven days ending Aug. 4. Overall crypto market capitalization was down 0.9%, while Polkadot (DOT) fell by 6%, and Solana (SOL) dropped by 0.11%. Last week, digital asset investment products from major companies like Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares, and 21Shares recorded net outflows totaling $305 million, according to CoinShares. This followed net inflows of $543 million the previous week. Bitcoin-focused investment products were hit hardest, recording $319 million in net outflows last week, per CoinShares. Rate Sensittivity James Butterfill, head of research at CoinShares, said that "widespread negative sentiment" was driven by stronger-than-expected U.S. economic data on Friday, reducing the likelihood of a 50-basis point interest rate cut. On Aug.30, the Commerce Department reported stronger-than-expected economic growth for the second quarter. Gross Domestic Product (GDP) increased at an annual rate of 3%, better than the earlier estimate of 2.8%. This was largely due to a spike in consumer spending, which accelerated at a 2.9% rate. "We continue to expect the asset class to become increasingly sensitive to interest rate expectations as the Fed gets closer to a pivot,” Butterfill wrote in a research post. In the past 24 hours, 61,097 traders were liquidated, with total liquidations amounting to $166.72 million, according to CoinGlass. Liquidations included Bitcoin and Ethereum long positions — bets that the prices would rise — worth $36 million and $30 million, respectively. Among the top 100 cryptocurrencies by market cap, Popcat (POPCAT) rose by 8%, while Helium (HNT) and Ordi (ORDI) gained 7% and 6%, respectively, making them the top gainers. Memecoins Dogs (DOGS) and Floki (FLOKI) were the worst performers, falling by 10% and 4%. Ether ETF Volume at 10% of Bitcoin ETFs Data from Galaxy Research indicates that Ethereum ETF volumes are just 10% of those for Bitcoin ETFs. As of Aug. 29, the cumulative trading volume for Bitcoin ETFs is $389.57 billion, while Ethereum ETF spot volume stands at $10.89 billion, per The Block data dashboards. Ethereum ETFs recorded no trading activity on Friday, Aug. 30, and experienced net outflows of $10.73 million last week. Bitcoin ETFs logged net outflows of $276 million last week, following $506 million inflows the previous week, according to data from Farside Investors. Michael Van De Poppe, Chief Executive Officer, MN Trading said that the market is currently dull. "You'd really need to get a breakout above $61K to get the momentum back in the markets,” Van de Poppe tweeted. “Otherwise, we will continue to have this downward trend for a while.” The U.S. stock market was closed on Labor Day. Investors are now anticipating Friday's payrolls data, which will provide insight into the state of the U.S. economy.