Bitcoin ETF Sees Strong Inflows Despite Market Dip
Bitcoin ETF– Bitcoin (BTC) traded just above $81,500 on Monday morning in Asia, as the cryptocurrency market continued to struggle after last week’s brief rally. Over the weekend, major tokens lost significant momentum, with XRP and Cardano’s ADA leading the declines, down 5% in the past 24 hours. Solana’s SOL, Dogecoin (DOGE), and Ether (ETH) also saw drops of 2-3%.
Despite the downturn in major cryptocurrencies, Bitcoin ETFs experienced inflows of $196 million last week, according to SoSoValue. On the other hand, Ether ETFs saw a slight net outflow of just over $8 million. This suggests that while Bitcoin remains strong in investor portfolios, Ethereum-based investments are facing some uncertainty.
Stock Markets Decline as Tariff Fears Weigh on Global Economy
Global stock markets opened lower for the fourth consecutive day, driven by concerns about U.S. President Donald Trump’s upcoming announcement regarding new tariffs, expected to be revealed on Wednesday. Major Asian stock indexes were hit hard, with Hong Kong’s Hang Seng down 1.7%, the Nikkei 225 dropping 3.8%, and Korea’s KOSPI losing 3%. The uncertainty surrounding trade relations between the U.S. and export-heavy economies is leading to fears about market access.
While stock markets struggle, safe-haven assets such as gold reached new all-time highs. Additionally, U.S. Treasury yields decreased as demand for safe assets increased. Investors seem increasingly cautious, focusing on preserving capital amid fears of the economic toll that new tariffs may bring.
Unlocking of Tokens Raises Concerns in Crypto Market
In the crypto market, $751.2 million in token unlocks are scheduled for this week, including tokens from SUI and DYDX. This brings the weekly unlock cycle to the middle of the pack, with larger token unlocks expected in May. Around $4.4 billion in tokens (at current market prices) are set to be unlocked in that month, which could add additional volatility to the market.
The ongoing market movements suggest that both traditional stock investors and crypto traders are adopting cautious strategies in light of the uncertain global economic landscape.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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