Right after that Binance hack during the US midterm elections the spot Bitcoin ETFs logged their largest net outflows since late June. 🌙 Meanwhile their Ethereum counterparts keep seeing pure red as the negative streak stretches to six weeks in a row. 🖤
Bitcoin ETFs Draining 1.28 Billion Hard 🩸
Last weekend showed how October closed with a total flip. Over 640 million got yanked from the Bitcoin ETFs right after the hack leaving the month at 515 million in the red. This marks the first time since June when the funds lost 4.51 billion overall. 🦇 As the hack fallout spread investors pulled another 400 million on November 2 and 115.56 million on the Tuesday midterm day. Bulls jumped back in on Wednesday with 74.57 million flowing in which sparked Bitcoin surging toward 81,000. 🔥 That push did not last though and inflows flipped again as 430 million left on Thursday plus 412 million on Friday. Bitcoin price dropped hard hitting a seven week low under 75,000. The full week closed with 1.28 billion net outflows the highest since late June when it neared 1.8 billion. 👁️
Ethereum ETFs Stuck At Six Straight Red Weeks 💀
Ethereum dropped double digits through October and ETF outflows played a big part. October saw an all time high 1.61 billion leave the funds with just three green days each under 25 million. 🕸️ This red streak kept going. Besides November 4 pulling in 53 million the other four days went deep negative. 139.80 million exited Monday then 85.35 million Tuesday 100 million Thursday and 93.19 million Friday. The week totaled over 365 million net outflows marking the sixth red week running. Cumulative inflows fell from 13.94 billion end of September down to 11.92 billion as of November 6. Ethereum price tanked under 2,250 with a 10 percent monthly slide. 😼
Just another echo from the void by iconofsin.eth 💖
