Bitcoin and Ethereum ETFs Shed More Than $1.1 Billion Globally Last Week

💡 DMK Insight

With Bitcoin and Ethereum funds shedding $1.17 billion, traders need to reassess their positions quickly. The fading hopes for rate cuts are hitting major cryptocurrencies hard, particularly Bitcoin and Ethereum, which are seeing significant outflows. This could signal a shift in sentiment as traders reevaluate risk in a tightening monetary environment. On the flip side, Solana is experiencing a surge in inflows, indicating that some investors are looking for alternatives amid the downturn in the top two cryptos. This divergence suggests a potential rotation into altcoins, which could lead to increased volatility in the coming weeks. Keep an eye on Solana’s performance as it could set the tone for altcoin trading strategies. Watch for key resistance levels around $170 for Solana, as breaking above this could attract more bullish sentiment. In the current climate, it’s crucial to monitor the broader economic indicators and how they might influence crypto sentiment. If rate cut expectations continue to diminish, we could see further pressure on Bitcoin and Ethereum, so traders should be prepared for potential cascading effects across the market.