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Bitcoin and altcoins have experienced significant declines since the crash in October.
Bitcoin ($BTC) fell to $60,000 and Ethereum ($ETH) to $1,750, while there were also huge outflows from US spot $BTC and $ETH ETFs.
US spot Bitcoin and Ethereum ETFs experienced outflows for the fourth consecutive month, totaling $9.15 billion.
According to SosoValue data, US spot Bitcoin ETFs experienced net outflows for the fourth consecutive month, resulting in a total loss of $6.39 billion.
This marked the longest monthly net outflow period since $BTC ETFs were launched in January 2024.
Spot Ethereum ETFs also saw a sharp decline in investor sentiment, with outflows of $2.76 billion during the same period.
Analysts say these outflows signal a sharp decline in institutional investors’ interest in digital assets, and this is reflected in the price drops of both tokens.
Bitcoin peaked above $126,000 in early October last year, but has since fallen by approximately 50% to $66,000. Ethereum, meanwhile, has lost more than 60% of its value since surpassing $4,950 in August last year.
*This is not investment advice.
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u.today
thecryptobasic.com
