Ethereum

Bitcoin ETF

Bitcoin

Million

Spot

Last week, both Bitcoin and Ethereum experienced substantial outflows, amounting to a combined total of $226 million. Bitcoin bore the brunt of this trend, witnessing outflows totaling $192 million, while <a href="https://coingape.com/price/ethereum" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> saw $34 million exiting the market, marking its 6th consecutive week of outflows. Interestingly, even short Bitcoin positions experienced outflows, albeit at a minimal scale of $0.3 million.
However, amidst this exodus, there was a glimmer of positivity as multi-asset sentiment improved slightly, with $9 million flowing into diverse investment avenues. Furthermore, altcoins like <a href="https://coingape.com/price/litecoin" target="_blank" rel="noopener noreferrer nofollow">Litecoin</a> and Chainlink managed to buck the trend, attracting inflows of $3.2 million and $1.7 million, respectively.
<h2 id="blockchain-equities-and-regional-trends">Blockchain Equities and Regional Trends</h2>
The streak of outflows in <a href="https://coingape.com/glossary/blockchain/" target="_blank" rel="noopener noreferrer nofollow">blockchain</a> equities continued unabated for the 11th consecutive week, with total outflows amounting to $9 million. This persistent negative sentiment can be attributed largely to concerns surrounding the impact of the halving on mining companies, fueling investor skepticism.
Notably, the <a href="https://coingape.com/bitcoin-etf-blackrock-fidelity-shows-recovery-signs-gbtc-outflow-fall-to-45m/" target="_blank" rel="noopener noreferrer nofollow">United States ETF</a> market saw significant outflows totaling $244 million, contrasting sharply with the lower inflows observed in newly issued ETFs. However, it’s not all doom and gloom as regions like Canada and Switzerland managed to attract inflows of $30 million and $8 million, respectively. Meanwhile, Germany experienced relatively minor outflows of $8 million, indicating a mixed bag of sentiments across different markets.
Also Read: <a href="https://coingape.com/bitcoin-transaction-fees-plummet-has-runes-triggered-saga-ended/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Transaction Fees Plummet, Has Runes-Triggered Saga Ended?</a>
<h2 id="spot-bitcoin-etf-activity-btc-price-trajectory">Spot Bitcoin ETF Activity &amp; BTC Price Trajectory</h2>
Spot Bitcoin ETFs reported a total <a href="https://coingape.com/us-market-slump-spoils-crypto-market-recovery-bitcoin-etfs-see-net-outflows/" target="_blank" rel="noopener noreferrer nofollow">net outflow</a> of $165 million over the past week, coinciding with a decrease in buying activity, particularly noticeable during the tax filing season in the United States. Despite this decrease in activity, Wednesday saw nine ETFs recording trading volumes nearing $2.7 billion, suggesting continued market participation and interest.
As for <a href="https://coingape.com/price/bitcoin" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s price</a> trajectory, it currently stands at $65,899.9649, with a 24-hour trading volume of $20.7 billion and a surge of 1.38% in the past day. These figures reaffirm Bitcoin’s status as a dominant force in the cryptocurrency market, with its live market cap maintaining a formidable $1.2 trillion valuation.
Also Read: <a href="https://coingape.com/xrp-news-lawyers-reveal-appeal-settlement-fine-in-ripple-vs-sec/" target="_blank" rel="noopener noreferrer nofollow">&nbsp;Lawyers Reveal Appeal, Settlement, Fine in Ripple Vs. SEC</a>
The post <a href="https://coingape.com/bitcoin-and-ethereum-bleed-226-million-in-outflows-coinshares-report/" rel="noopener noreferrer nofollow">Bitcoin and Ethereum Bleed $226 Million In Outflows, CoinShares Report</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Bitcoin and Ethereum Bleed $226 Million In Outflows, CoinShares Report

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