Heavy $782 million outflow from crypto ETFs 🟠
Heavy $782 million outflow from crypto ETFs 🟠
Background
• A $696.29 million outflow recorded from Bitcoin ETFs
• $81.87 million outflow from Ethereum ETFs
• A minor outflow from Solana and zero flows for other cryptocurrencies
Focus
• Sale of 11759 Bitcoin by US ETFs 🧐
• Heavy selling of Bitcoin and Ethereum by BlackRock and Fidelity 💡
• Equivalent to selling 26 days of miners' production in a single day 🔥
Implications
• Intensifying selling pressure on the prices of Bitcoin and Ethereum
• A sharp drop in institutional confidence in the short term
• Continued capital outflows from spot products 😅
Conclusion
Yesterday's unprecedented outflow reflects severe risk aversion among institutions and strong downward pressure on the market 🧐
#ETF #Bitcoin #Ethereum #capital_outflow
Background
• A $696.29 million outflow recorded from Bitcoin ETFs
• $81.87 million outflow from Ethereum ETFs
• A minor outflow from Solana and zero flows for other cryptocurrencies
Focus
• Sale of 11759 Bitcoin by US ETFs 🧐
• Heavy selling of Bitcoin and Ethereum by BlackRock and Fidelity 💡
• Equivalent to selling 26 days of miners' production in a single day 🔥
Implications
• Intensifying selling pressure on the prices of Bitcoin and Ethereum
• A sharp drop in institutional confidence in the short term
• Continued capital outflows from spot products 😅
Conclusion
Yesterday's unprecedented outflow reflects severe risk aversion among institutions and strong downward pressure on the market 🧐
#ETF #Bitcoin #Ethereum #capital_outflow
Persian original · View this post on Telegram ↗ · Open in the archive · 💬 Discuss in the Coin_Kurd Telegram group · Educational, not financial advice.