Bloomberg ETF analyst Eric Balchunas believes there is light at the end of the tunnel after spot Ethereum ETFs hit $524M in net outflows.
exchange-traded funds have recorded cumulative net outflows of $524 millio since they started trading on 23rd July. During the entire month of August, these products saw only seven days of positive inflows per
The decline appears to come from selling activity. Data from CryptoQuant shows that between the 31st of August and the 3rd of September, over 257,000 ETH was sent to exchanges. This indicates an intent to sell.Technical indicators are also showing an uptick in sellers after the Chaikin Money Flow indicator flipped to the negative region after a brief period of buying activity.
Sellers might have flocked to the market after ETH failed to hold a critical support level at the 0.382 Fibonacci . However, the altcoin has found another support level at $2,367, but a liquidity sweep below this price to $2,306 remains possible.also revealed a large number of liquidations if the price falls to $2,280. Therefore, this price acts as another crucial support level at which buyers might choose to enter the market.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ethereum ETFs struggle as Bitcoin ETFs see $252M inflows: Can ETH catch up?Bitcoin ETFs have surged with $252 million in inflows, while Ethereum ETFs struggle, potentially widening Bitcoin's dominance.
Read more »
Did Ethereum ETFs help BlackRock surpass Grayscale’s holdings?BlackRock ETFs holdings surpass Grayscale, hitting $21,217,107,987, while the latter's number stood at $21,202,480,698.
Read more »
BlackRock, Nasdaq seek rule change to list options on spot ethereum ETFsBlackRock and exchange operator Nasdaq have proposed a rule change to list and trade options for the asset manager's spot ethereum exchange-traded fund...
Read more »
Bitcoin, Ethereum ETFs see record volumes amid market recoveryBTC ETFs trading volume hit $5.7 billion. BTC and ETH recovers from market downturn as Blackrock and Nasdaq file for rule change with SEC.
Read more »
CIBC analyst recommends defensive portfolio positioning using these ETFs and stocksDaily roundup of research and analysis from Scott Barlow
Read more »
Ethereum, Bitcoin ETFs face sudden outflows; Is a market shift in play now?Despite the bearish market conditions, Bitcoin [BTC] ETFs witnessed promising inflows a few days ago. However, the trend changed over the...
Read more »