Bitcoin ETFs are adversely affected
On Monday, the snapshot of this market was one of euphoria, after the United States Congress showed its support for Donald Trump, which led Bitcoin to reach $102,000, above the $100,000 barrier, levels it had not managed to exceed for two weeks. $BTC
Drops have become widespread for cryptocurrencies in these last sessions, according to the index that tracks cryptocurrencies BGCI Bloomberg Galaxy. Although today the sharpest declines are led by Stellar, in contrast, this coin leads the gains so far in 2025. This crypto is worth nearly $12.00 million in the market, similar to the capital of Stanley Black & Decker, one of the firms in the S&P 500.
Despite recording a correction of 7% to $0.39 today, on an annual level, it has a rise of 18% from the levels it started the year. Stellar is 30% off its highs after the U.S. elections, at $0.55. This cryptocurrency was one of the most favored by the U.S. elections and managed to appreciate up to 500% during the bullish streak of these assets.
In this context, cryptocurrency ETFs saw a withdrawal of $583 million in net assets, the second largest capital outflow since these funds were established a year ago, as reported by Bloomberg, noting that economic strength data in the region has pressured cryptocurrencies downwards.
The head of research at Presto Research, Peter Chung, believes that the Fed's hawkish tone has contributed to Bitcoin prices remaining between $91,000 and $102,000, and he asserts that "the breakout from these levels will occur when the market completes its calibration process and uncertainty is cleared," he states. "The signals for this will likely emerge after Trump's inauguration on January 20," Chung anticipates.
