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Author: Admin | 2025-04-28
NewsPricesDataIndicesConsensusSponsoredSign InSign UpStrong net flows into bitcoin exchange-traded funds indicate robust institutional demand as BTC dominance rises at the expense of ether, one trader noted.Updated Oct 31, 2024, 9:52 a.m. UTCPublished Oct 31, 2024, 9:49 a.m. UTCBitcoin exchange-traded funds experienced strong inflows for a second straight day. (Shutterstock) Bitcoin experienced profit-taking after a week of gains, dropping by up to 0.5% over 24 hours before recovering to stabilize just above $72,400.U.S. bitcoin ETFs saw significant inflows for a second day, with more than $893 million invested on Wednesday following $879 million on Tuesday.High ETF inflows indicate robust institutional interest in bitcoin, particularly as its market dominance grows, some traders said.Bitcoin (BTC) markets saw profit-taking over the past 24 hours after a strong week in which the largest cryptocurrency posted a seven-day gain of almost 8%.BTC fell as much as 0.5% before recovering to just over $72,400 during the European morning. It rose as high as $73,200 in early Asian morning hours Wednesday. Major tokens posted losses with Solana’s SOL and BNB Chain’s BNB falling as much as 2.5% while dogecoin (DOGE) dropped 1% after several days of outperformance.The broad-based CoinDesk 20 (CD20), a liquid index of the largest tokens by market capitalization, lost 1.3% in the past 24 hours.A breather in the market from a wider pump earlier in the week came amid a second straight day of strong inflows for U.S. bitcoin exchange-traded funds (ETFs). The ETFs recorded over $893 million in inflows on Wednesday after taking in $879
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