September ETF- Traders Remain Bullish Amid Bitcoin’s 25% Drop from March Peak
September ETF– Since August 27, ETFs have reported losses, and Monday marked the first day of net inflows in September. Historically, September is known for being bearish for cryptocurrencies, and current ETF outflows indicate a lack of new demand among professional investors. Net inflows have dropped below the $17 billion mark, reverting to levels last observed in July.
Bitcoin Prices Down 15% in Two Weeks, 25% Below March Peak
Bitcoin prices have fallen nearly 15% over the past two weeks, now standing 25% below March’s lifetime high of $73,300. Despite this downturn, some traders are maintaining a bullish outlook. According to QCP Capital traders, even amidst market volatility, they remain structurally bullish and believe the market is leveraging this lower phase to initiate long-term bullish trades.
Encouraging Bounce from $52,500: Is Bitcoin’s Bottom in Sight?
The recent bounce from $52,500 has sparked discussions on whether the bottom has been reached. While certainty is elusive, some institutions are seizing the opportunity to increase their bullish bets for December and March. This action reflects a cautious but optimistic stance on Bitcoin’s future trajectory.
CoinDesk 20 Index Shows 2.3% Increase
The CoinDesk 20 (CD20), which tracks the largest and most liquid digital assets, has risen by 2.3%, trading at 1,800. This increase suggests a positive trend among major digital assets, despite Bitcoin’s recent volatility.
Bitcoin Trading Above $56,500 Ahead of Key Economic Releases
Bitcoin is currently trading above $56,500, having slipped from $57,000. This movement occurs ahead of important economic indicators, including the next CPI and PPI releases, as well as the first debate between Donald Trump and Kamala Harris.
Polymarket Predictions: Low Probability of Crypto Mentions in Debate
Polymarket traders predict a low chance of cryptocurrency being mentioned during the debate, with only an 11% likelihood of Harris mentioning Bitcoin and a 13% chance of Trump doing so. Additionally, there is a 30% chance the debate will extend beyond the scheduled end time of 10:30 pm.
AI and Liquid Staking Tokens Show Strong Performance
Several prominent AI tokens have shown substantial gains during the early hours of Asia’s business day, with the CoinGecko AI category up by 10%. In the realm of liquid staking tokens, Lido DAO’s (LDO) token has increased by 6.3%. Rocket Pool’s (RPL) token has surged over 20% following Binance Futures’ announcement of leveraged perpetual contracts. Despite this, RPL’s total value locked remains just above $2.9 billion, according to DeFi Llama data, indicating that the recent price increase has not significantly impacted the total value locked in the protocol.
This comprehensive overview captures the key movements and trends in the cryptocurrency and financial markets, providing valuable insights for investors and market watchers.
FAQs
What are the recent trends in ETF investments for cryptocurrencies?
Recent data indicates that ETFs have experienced losses since August 27. However, Monday marked the first day of net inflows for September, a month historically known for bearish trends in the cryptocurrency market. This suggests that while ETFs have faced challenges, there may be a shift in investor sentiment.
How have Bitcoin prices changed recently?
Bitcoin prices have dropped nearly 15% over the past two weeks and are currently about 25% below their lifetime peak of $73,300 reached in March. Despite this downturn, some traders are optimistic about Bitcoin’s future.
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