Cryptocurrency markets are showing consistent outflows from ETF funds over the past few days. An analysis indicates that both Bitcoin and Ethereum are facing significant losses.
Ethereum ETF Outflows
According to data from SoSo Value, Ethereum ETFs experienced a record daily outflow of $422.30 million, exceeding the previous record of $197 million. Despite this, the total net asset value of the fund stands at $25.94 billion, which is 5.17% of Ethereum's market cap. In recent weeks, Ethereum ETFs peaked at $2.85 billion.
Bitcoin ETF Outflows
Bitcoin ETFs are also showing outflows over the past 4-5 days. Currently, the assets of Bitcoin ETFs amount to $146.20 billion. This month, the outflows totaled $523.31 million. As evidenced, investors are actively selling their shares, significantly impacting prices.
Overall Market Dynamics
Amidst the ETF outflows, the cryptocurrency market displays instability. In recent hours, the price of Bitcoin has decreased by 1.71%, while Ethereum dropped by 1.7%. Investors are also awaiting the upcoming speech by Jerome Powell, which could significantly influence future market trends.
The current situation in cryptocurrency markets reflects investor caution and the impact of the global economic landscape. Market sentiments will depend on upcoming federal statements.
