🚨🔴Analysis and Comparison🚨🔴
🔴🚨 Attention Alert Attention 🚨🔴
Read 👇🏼👇🏻
Ethereum ETFs vs. Bitcoin ETFs:
The recent launch of Ethereum (ETH) ETFs provides a new option for investors alongside the established Bitcoin (BTC) ETFs. Here is:
Performance Overview:
Bitcoin ETFs:
- Positive Inflows: Bitcoin ETFs have consistently attracted net inflows. On July 29, 2024, Bitcoin spot ETFs saw a net inflow of $124 million, continuing a four-day streak of positive net flows.
- Major Investments: BlackRock’s IBIT ETF received $206 million in inflows. Despite a recent slowdown, the overall trend remains positive, indicating strong investor confidence.
Ethereum ETFs:
- Outflow Challenges: Ethereum ETFs have faced significant outflows. On July 29, 2024, Ethereum spot ETFs recorded a net outflow of $98.3 million. The largest ETH ETF, Grayscale’s ETHE, saw a single-day outflow of $210 million.
- Market Impact: These outflows have pressured Ethereum's market performance, reflecting cautious or bearish sentiment among investors.
Price and Market Sentiment:
Bitcoin (BTC):
- Recent Decline: Bitcoin’s price has dropped nearly 4% in the last 24 hours, now trading at $66,829 with a market cap of $1.31 trillion.
- Investor Confidence: Despite short-term volatility, consistent inflows into Bitcoin ETFs suggest strong long-term confidence.
Ethereum (ETH):
- Price Drop: Ethereum’s price has declined over 3% last week and an additional 1% in the past 24 hours, now trading at $3,322.91 with a market cap of $399 billion.
- Bearish Indicators: Increased selling pressure is evident, with rising active deposits and higher supply on exchanges. However, the Market Value to Realized Value (MVRV) ratio's recent improvement hints at a potential bullish turnaround.
Follow for continuous updates and detailed analysis. Thanks.
Top coins to buy. #Dyor2024
#US_Job_Market_Slowdown #BinanceHODLerBANANA #BinanceTurns7 #Write2Earn!
