One option agency reported that the declines of Bitcoin, Ethereum and total crypto-market cap had sparked shortterm doubt among traders.
QCP Capital published a 15 March update that highlighted concerns about volatility in the cryptocurrency market as Bitcoin (BTCThe leading coin, () fell below $66,000 in less than two weeks for the very first time.
BTC fell over 5% within the last 24 hour and dropped to $65,565 at trading hours. Ethereum (ETH) also retraced more than 5% to around $3,566 before recovering slightly at press time. According to CoinMarketCap, the total crypto market dropped to $2.6 trillion on Monday, down by 4%.
QCP Capital analysts said the markets were “particularly nervous” The correction of the value across the two biggest crypto tokens. According to the firm, this risk-reversal continued into May.
There have also been some large unwindings of calls from institutional players, who had bought calls in a big way on their rise.
Spot Bitcoin ETFs record net inflows of $132 million
The Bitcoin market’s correction on March 14 was preceded with a rare lackluster demand for spot BTC ETF. Data from SoSo Value showed net flows of 132.5 million dollars across 10 different tradable fund. BlackRock The lead is back with 345 million dollars.
BlackRock’s iShares Bitcoin (IBIT) ETF experienced a resurgence in the wake of $257 million net outflows by Grayscale. Bitwise, Invesco, Galaxy and WisdomTree funds reportedly saw no net inflows.
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Source: crypto.news