Bitcoin $404M dey comot; Ethereum don log 15th inflow
Digital asset investment products waka see $223 million net outflows for di week wey end for August 2, wey end 14 weeks straight wey money dey flow in. Bitcoin suffer di most, with $404 million commot from BTC products after di Fed sharply warn dem, wey make crypto market cap fall by 9.5%. Ethereum sharp, e log 15 weeks in a row wey inflows steady at $133.9 million as traders dey flow to ETH before network upgrades. Small small tokens show different moves. Solana (SOL), XRP and Cardano (ADA) gather $41 million together, while Sui (SUI) and Litecoin (LTC) each face small $1 million outflows. Institutional crypto ETFs show different sides: BlackRock’s spot Bitcoin and Ethereum ETFs pull $355.3 million and $394.2 million, even though other investors sell $323 million BTC spot products in one day. Even with short-term bearish pressure for Bitcoin, total assets under management still hold steady at $215 billion. Data show say this pullback fit be just temporary correction, no be long-term reverse for di digital asset market.
Bearish
Heavy Bitcoin outflows of $404 million and one 9.5% market-cap drop dey show clear short-term bearish pressure on Bitcoin. Even though Ethereum get 15th week of inflows and strong ETF demand wey mean say ETH dey resilient, e no fit balance the widespread sell-off for BTC products. The stability wey total assets under management get mean say na only temporary market correction e be, no be reversal, but Bitcoin current momentum still negative due to Fed-driven sentiment and big outflows.