Bittime - Crypto-related investment products experienced their second straight week of outflows in April, with about $206 million leaving the market, according to CoinShares' latest weekly report.
What happens during the Bitcoin Halving? How will the price of BTC develop in the future? With click on this link, you will find the answer.
Bitcoin Halving
Despite Bitcoin's recent halving, which usually generates excitement in the market, investor interest in the leading digital asset remains ebbed, as evidenced by outflows that reached $192 million.
In contrast, short-term investors took advantage of the opportunity presented by the halving event to strengthen their positions, injecting $300,000 into the market.
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Main Outflow
Over the past week, CryptoSlate reported that US-based Bitcoin exchange-traded funds (ETFs) experienced five consecutive days of outflows. These outflows were primarily driven by Grayscale GBTC, ProShares BITO, and Ark's ARKB 21 Shares.
James Butterfill, Head of Research at CoinShares, explained that these outflows signal declining interest among ETP/ETF investors. This trend stems from speculation that the Federal Reserve may choose to delay further interest rate cuts.
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Parallel Decline
Butterfill also highlighted a parallel decline in ETP trading volume, which hit $18 billion last week. He stressed that this volume now represents a smaller share of total BTC volume, marking a shift from 55% a month ago to 28%.
Investors are increasingly favoring lesser-known altcoins over major cryptocurrencies like Solana and Ethereum. According to reports, altcoins such as Chainlink, Polkadot, Litecoin, Cardano, and XRP collectively attracted more than $7 million in inflows last week.
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Ethereum Experiences a Decline
Meanwhile, Ethereum continues its downward trend, with last week marking the sixth consecutive week of outflows topping $34 million. Inflows for the month remained negative at $85 million, with annual flows also in negative territory, reaching $11 million.
Solana experienced a smaller outflow of $300,000, while blockchain equities recorded their 11th consecutive week of outflows, reaching $9 million.
Butterfill attributed the outflow from blockchain equities to investor concerns regarding the impact of mining halvings on mining companies.
How To Buy Bitcoin (BTC) With Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with BTC IDR pairing.
To be able to buy BTC tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn How to Buy Bitcoin (BTC) on Bittime.
Monitor price chart movements of Bitcoin (BTC), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read Too:
Bitcoin Halving Impact: How Altcoins Fate
Memecoin Craze Amid Bitcoin Halving Cycle
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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