The crypto market experienced a bloodbath on Black Monday. Yesterday’s crypto market was also the bloodiest day in 2024. There is another 8.05 anniversary in the history of crypto. However, as the saying goes, every time a real bull market comes, the crypto market must go through a crazy bloodbath. This 8.05 bloodbath, whales and institutions fully utilized the intensive so-called negative news. However, taking Ethereum as an example, Grayscale’s market crash also copied the market crash mode of the Bitcoin spot ETF listing time. However, Sun Yuchen’s Ethereum holding structure did not move. On the contrary, he increased his Ethereum holdings again at 23:30 last night.

According to on-chain data monitoring, the data of Ethereum and Bitcoin ETFs on August 5 showed:

1. The total net outflow of nine Ethereum ETFs was 22,779 ETH, equivalent to US$54.94 million, of which Grayscale outflowed 25,045 ETH, equivalent to US$60.41 million. Grayscale currently holds 2,004,828 ETH, worth approximately US$4.84 billion;

2. The total net outflow of ten US Bitcoin ETFs was 1,205 BTC, equivalent to US$65.49 million, of which Fidelity outflowed 1,661 Bitcoins, equivalent to US$90.26 million. Fidelity currently holds 178,088 Bitcoins, equivalent to approximately US$9.68 billion.

The crypto market's decline is slowing down at this moment, and the market will rebound with a potential indicator repair. It is still recommended to pay attention to changes in the news and conduct selective position building.

Pay attention to the operation of altcoins, and avoid unlocking large amounts of coins that are suspected of being delisted. #加密市场急跌 #JumpTrading转移资产 #