Bitcoin ETFs suffer capital outflows, altcoins rebound and rise!

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After last week's market rally, the cryptocurrency market has been turbulent, with Bitcoin, Ethereum and altcoins all rebounding. Bitcoin's rise from $94,000 to $99,000 ushered in a rise known as the "Santa Claus rally", but there is also the risk of profit-taking. Bitcoin currently maintains above $98,000, but traders are becoming more cautious as the end of the year approaches.

Bitcoin ETFs have serious capital outflows

BlackRock's Bitcoin ETF (iShares Bitcoin Trust, IBIT) recorded a $188.7 million outflow on Christmas Eve, setting a record for its single-day outflow. This trend caused the Bitcoin Fund to lose $1.5 billion in four days from December 19 to 24. Other Bitcoin ETFs also faced large capital outflows, and only the Bitwise Bitcoin ETF saw capital inflows.

Altcoins on the rise: Ethereum ETFs in the spotlight

Despite the difficulties faced by Bitcoin, altcoins, especially Ethereum, have attracted more and more attention from traders. The Ethereum ETF (ETH ETF) has been growing steadily, especially in terms of inflows, which recently received $53.6 million. Analysts predict that with the strong performance of the ETH/BTC ratio, Ethereum is expected to outperform Bitcoin in January 2025.

Bitcoin's future trend

The outflow of funds from Bitcoin ETFs and the general withdrawal trend in the market have left investors with questions about the future of Bitcoin. Analysts pointed out that Bitcoin's next move may be affected by the key price range ($105,000). Although Bitcoin has risen 4% recently to $98,014, trading volume has fallen by 24%, showing a weakening of market interest. With a large number of BTC options expiring this Friday, market uncertainty has further increased, and investors should pay close attention to trading volume and market sentiment.

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