US Bitcoin ETFs add $167M as altcoin funds extend outflows
US spot Bitcoin exchange-traded funds posted net inflows on Monday, snapping a two-session stretch of outflows as Bitcoin rose toward $70,000 and investor demand returned to the largest cryptocurrency.
Spot Bitcoin (BTC) ETFs recorded $167 million of inflows on Monday, following around $577 million in outflows on Thursday and Friday, according to SoSoValue data.
Demand was weaker across other crypto-linked ETFs. Altcoin funds experienced significant selling pressure, with outflows persisting across Ether (ETH), XRP (XRP) and Solana (SOL) ETFs even as the underlying tokens rose 3-5% over the past 24 hours, according to CoinGecko data.
The gains followed US President Donald Trump telling reporters on Monday that the war with Iran could be coming to an end, easing geopolitical fears and pushing oil prices lower.
Ether, XRP and Solana now on a three-day outflow streak
Ether, XRP and Solana ETFs saw outflows totaling $51 million, $18 million and $2.5 million, respectively, on Monday, according to SoSoValue. This marked a three-day outflow streak, with Ether seeing the largest cumulative losses at $225 million.
While ETH and SOL selling have been subsiding over the past three trading sessions, XRP outflows increased, totaling around $41 million since Thursday. Solana’s outflows amounted to roughly $16 million over the same period.
Crypto funds gain $619M as markets hold up despite oil and war fears
The sideways trading in crypto ETFs came as analysts warned that it’s still early to declare a structural bottom in Bitcoin, which traded at $70,015 at the time of writing, according to CoinGecko.
CryptoQuant’s analyst IT cited the Bitcoin long-term holder to short-term holder spent output profit ratio, which hit 0.89, showing short-term holders selling at a loss.
The data suggests market stress is building, but has not yet reached capitulation levels, meaning a clearer bottom may still be ahead.
The debate over Bitcoin’s four-year cycle is over: Benjamin Cowen
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Intel (INTC.US) Decline Continues: PC Slowdown Is Just the Trigger, Foundry Dilemma Is the Main Issue
Intel (INTC.US) is facing increasing pressure to get its struggling foundry business off the ground.
Palantir (PLTR.US) commercial revenue surpasses government for the first time, annual forecast revised up to $8.53 billion
Palantir’s Q3 revenue increased by 96% year-on-year to $2.31 billion, with its commercial business surpassing government contracts for the first time. CEO Karp stated that demand for sovereign AI remains strong, and the company raised its full-year revenue guidance to $8.53 billion. Despite stock price volatility after hours, both profit indicators exceeded expectations.
US and Iran Show 'Willingness to Negotiate', Causing Global Energy Prices to Plummet
Iran's Supreme Leader has authorized the government to negotiate, while Trump has explicitly stated he "will not" resume military strikes if re-elected. The energy market is under pressure across the board: Brent crude plummeted over 6% in a single day, WTI fell below the $100 mark, and European benchmark natural gas futures at one point plunged nearly 11%. With the US election approaching, Trump faces both electoral challenges and pressure from Israel to initiate conflict. Iran has proposed a "seven-day plan" as its bottom line for reopening the Strait, with substantial underlying disagreements. Coupled with a sharp global inventory reduction of nearly 1 billion barrels, the downside for oil prices may be limited.
Apple (AAPL.US) doesn't burn money. Is the AI sell-off "safe haven" really secure?
Apple, which does not participate in the AI arms race, has become a "safe haven" amid the AI sell-off; however, with its high valuation, Apple also faces a judgment on its growth.
Crypto prices
More
