Institutions continue offloading BTC exposure despite price rebound
Bitcoin funds are still in decline as institutional sentiment remains bearish. Investments in institutional Bitcoin products have continued to decline this past week.In its July 26 Digital Asset Fund Flows report, CoinShares notes institutional crypto products have experienced outflows for the third consecutive week, with $28 million exiting the sector during the week ending July 23. As such, the week saw a 170% increase in outflows compared to the $10.4 million for the previous seven days.The findings revealed that Bitcoin-based funds saw the largest outflows with $24 million, or 85% of....
Related News
Ethereum’s price is currently in a rebound towards the downward trend. How deep will this rebound be? Will the rebound grow into a turn to growth? The short-term upward trend is actually a rebound toward the medium-term downward dynamics. So it’s a bit too early to be talking about a turnaround in the medium-term scale. For the continuation of the downward trend to become likely, Ethereum’s price has to fortify at the level of $8. After forming a turn there, there will be a good chance for the downward trend to continue. That will indicate that the bulls are a minority at that level. But....
Bitcoin appears poised to post its second-weakest quarter since the start of 2014. Bitcoin is poised to post its worst-performing quarter since the start of the 2018 bear trend.The current quarter is also on track to be the second-worst on record for BTC ine almost eight years since the start of 2014.According to crypto data aggregator, Skew, Bitcoin is currently down nearly 46% for the quarter, the weakest quarter since Q1 2018 — when it shed approximately 50% of its value over just three months amid the fall-out from 2017’s all-time highs.#bitcoin up 10% year-to-date but on track for....
Bitcoin is undergoing a correction toward the upward trend. That rebound can become a turn to decline. What is the most likely scenario for a turn? A stop and a rebound of Bitcoin’s price off the level of large trading volumes at $456 indicates that that trend is backed by some degree of support. But that situation can change, which we’ll be able to see, when judging by the structure of the price. If the bulls will continue to hold the advantage, a fortification at the level of $456 is unlikely. That means that in an upward scenario, Bitcoin’s price has to not form a turn at that level. In....
During the last couple of months Ethereum was undergoing correction towards its long-term trend. That rebound can very well be considered finished. Will the upward trend continue? There was no turn in the long-term scope. Ethereum’s price has failed to break through a number of key long-term resistances, which would allow it to form a turn. Thus, the movement has come to a halt at the next key level. Such moments are beneficial for short-term deals along the main trend; for Ethereum’s price to resume moving along its long-term growth trend, the current correction has to end. This rebound....
The price has bounced off an important level without turning about. Is that a signal of a continuation of the trend? Will the upward trend continue? Without holding at the level of $416, Bitcoin’s price has once again followed the ongoing trend. The Bulls are holding the advantage so far. Until a turnabout happens at the $416 mark, the upward trend will continue. Why is the $416 level so important? If you analyze the upward trend as a whole, including its rebounds, you’ll see that the peak of the new rebound is exactly at the point of $416. Hence, it’s the most profitable price for Bullish....