In brief
- Bitcoin and Ethereum ETFs recorded combined outflows of $439.1 million on Monday, with Bitcoin funds losing $363.1 million and Ethereum products shedding $76 million.
- The market saw $376.20 million in crypto liquidations in the last 24 hours.
- Analysts view the outflows as profit-taking and de-leveraging, with Friday’s PCE report seen as pivotal for near-term flows.
Bitcoin and Ethereum exchange-traded funds suffered a $439 million blow in total on Monday, wiping out much of last week’s inflows as investors repositioned around the Federal Reserve’s rate cut and braced for upcoming inflation data.
Bitcoin ETFs led the exodus with $363.1 million in outflows, led by Fidelity’s FBTC shedding $276.7 million and ARK 21Shares’ ARKB losing $52.3 million, according to Farside Investors data.
Meanwhile,
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Author: Vismaya V
