Bitcoin steadies at $76,900 as ETFs lose $399 million and Binance outflows hit $4.7 billion
- US-Listed Bitcoin ETFs recorded more than $1 billion in net outflows over three trading days through Tuesday, with investors pulling $116 million on Tuesday alone, according to SoSoValue data.
- Market volatility followed Binance's $6.3 billion hack on Thursday, which raised custody concerns; Bitcoin briefly fell below $76,400 on Monday, its lowest level since August, according to CoinGecko.
- Bitwise's head of research, Andr Dragosch, dismissed the outflows as short-term risk-off sentiment, citing a recent Bitwise survey of 15 institutions showing none had reduced their Bitcoin ETF exposure.
- Outflows slowed to $116 million on Tuesday, down from $643 million on Friday, as Bitcoin sentiment improved and The Crypto Fear and the Greed Index rose to 34.
- Unlike hot wallets affected by the Binance incident, institutional funds at Coinbase are kept in cold storage, Dragosch noted, while retail investors account for the majority of holdings and react more strongly to volatility.
28 Articles
28 Articles
Bitcoin operates in a slight fall on Tuesday (3), at $77,000, still without recovering the levels prior to the attack on Binance last week. In this session, however, the pressure comes mainly from the new fall in technology actions and the strong exits of ETFs in view of cryptocurrency in the United States. At around 10:30 a.m., bitcoin fell 0.6% in 24 hours, to $77.666.37, according to CoinGecko. In Brazil, it was negotiated R$425.543.22, pract…
Bitcoin ETFs Post $1B Outflows Over Three Days
TL;DR: Outflow total: Bitcoin ETFs saw $1.16 billion in net outflows over three trading days, with Tuesday’s $116 million marking a slowdown from prior sessions. Bitwise’s view: Head of research André Dragosch says the pullback reflects a short-term risk-off mood, not a structural shift, citing survey data showing institutions held positions. Custody concerns: The Binance ...
US Bitcoin spot funds closed Tuesday's session with another outflow of capital. The negative balance is again...
Ethereum reclaims $2,300 as $1.61B ETF outflows weigh on recovery
Key takeaways Ethereum (ETH) has reclaimed $2,300 after falling below its realized price of $2,309 following the $6.3 billion Binance hack. US spot Ethereum ETFs recorded their seventh consecutive trading day of outflows on Tuesday. ETH faces immediate support at $2,250, followed by $2,204 and $2,107, while a recovery above $2,309–$2,355 could improve the short-term […]
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