Источник CryptoPotato.com, Sofia, Bulgaria
Заголовок Substantial Net Outflows for Bitcoin, Ethereum Funds as Prices Tumble: Weekly ETF Recap
Дата 20241006

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Substantial Net Outflows for Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin, Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Funds as Prices Tumble: Weekly ETF
Recap

Substantial Net Outflows for Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin, Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Funds as Prices Tumble: Weekly
ETF Recap

Author: Jordan• Иордания Lyanchev

Last Updated Oct 6, 2024 @ 09:06

October 1 was the worst day in terms of net outflows for the BTC ETFs in about
a month.

After being on a highly impressive streak of net inflows, the landscape around
the 11 US spot Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETFs changed in the past week, perhaps due to the
geopolitical tension in the Middle East.

The Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum-based funds are also in the red on a weekly scale, while the two
underlying assets prices crashed to local lows.

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETFs Break the Good Streak

CryptoPotato reported last weekend the positive streak the BTC ETFs had
experienced, attracting over $1.1 billion in net inflows within the span of
just five trading days. Moreover, that Friday (September 27) was the best day
in terms of allocated funds since early June.

Consequently, BTC s price soared from $62,000 to over $66,500 within the
same week. However, the situation changed for the worse in the past five
trading days as investors pivoted from their strategy.

Perhaps due to the escalating conflicts in the Middle East, market
participants broke the eight-day positive streak on Tuesday, with total net
outflows worth $242.6 million. Wednesday and Thursday were also painful for
the ETFs, with $64.4 million and $54.2 million leaving them, respectively.

Although Monday and Friday registered net outflows worth $61.3 million and
$25.6 million, the entire week ended in the red. Overall, $274.3 million was
withdrawn from the US-based ETFs.

This harmed BTC s price movements, as the asset tumbled from $66,000
(last Sunday) to $60,000 on Wednesday and Thursday. Despite recovering
slightly to $62,000 as of now, the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта is still more than 5% down
weekly.

Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum ETFs in the Red, too

The spot Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum ETFs had a slightly different week but with the same
outcome. Monday started with minor outflows of $0.8 million, while Thursday
saw $48.6 million taken out. Another $3.2 million was pulled out on Thursday,
while investors allocated $19.8 million in net inflows on Wednesday and $7.4
million on Friday.

This places the total weekly number at -$25.4 million for the ETH ETFs.
Although the net outflows for Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum were a lot less than those for the
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETFs, ETH s price has actually declined more.

The second-largest digital asset stood close to $2,700 last Sunday, but it
dumped by almost $400 mid-week to bottom out at around $2,300 on Thursday. It
has recovered to $2,420 now, but it is still more than 8% down weekly.

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Tags: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETF Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum ETF

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