Ethereum

Flow

bullish

Future

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin and Ethereum ETFs have experienced outflows in recent days, despite optimistic inflows for Bitcoin ETFs a few days ago.</li> 
 <li>Market indicators suggest a potential end to Bitcoin’s bear rally.</li> 
</ul>  
<p>Bitcoin [BTC] ETFs showed positive inflows a few days ago, despite the bearish market conditions. However, this trend has reversed in the last 24 hours.</p> 
<h2 id="state-of-bitcoin-and-ethereum-etfs">State of Bitcoin and Ethereum ETFs</h2> 
<p>Recent data indicates that Bitcoin ETFs had inflows of $200 million on 8 August. Unfortunately, this trend did not sustain, with figures turning negative the following day.</p> 
<p>Data from SoSoValue reveals that BTC ETFs netflows fell to under -$90 million on 9 August. Interestingly, while Blackrock increased its holdings, Grayscale decided to sell, according to data from Dune.</p> 
<p>Ethereum [ETH] ETFs have also seen a similar pattern in recent days. Specifically, ETH ETFs netflows peaked at $98 million on 6 August, but fell to -$15.7 million on 9 August.</p> 
<p>The bearish market conditions, which led to price declines for both BTC and ETH, could be a possible explanation for the drop in netflows.</p> 
<h2 id="bitcoin-s-future-prospects">Bitcoin’s Future Prospects</h2> 
<p>AMBCrypto analyzed BTC’s current state to determine if a bullish comeback is possible in the near future. According to Santiment’s data, BTC’s MVRV ratio improved, indicating a bullish signal.</p> 
<p>Another positive metric was the volume, which decreased. A reduction in volume during a bear market suggests the bearish trend might soon end. Additionally, Bitcoin’s whale transaction count remained high last week, indicating active trading among whales.</p> 
<p>However, a look at Bitcoin’s daily chart revealed a downtick in its Relative Strength Index (RSI). The Money Flow Index (MFI) also decreased, suggesting that BTC’s price might drop further.</p> 
<p>Despite this, the MACD showed the potential for a bullish crossover. Furthermore, the Bollinger Bands indicated that it was about to test its resistance near the 20-day Simple Moving Average (SMA). A successful breakout above this level could signal the start of a bull rally.</p>

Market Movement: Sudden Withdrawal from Ethereum, Bitcoin ETFs Suggests Shift

Table of Contents

CoinEagle.com

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