Ethereum (ETH) breaks its seven-week streak of outflows amid broader trend of digital asset outflows
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Analysts speculate that the recent price decline of Bitcoin, dipping 10% below the average purchase price of these ETFs, might have triggered automatic sell orders, contributing to the outflow trend. While the bulk of outflows originated from the United States, amounting to $504 million, other regions such as Canada, Switzerland and Germany, also experienced outflows, totaling $9.6 million, $9.8 million and $7.3 million, respectively.
Bitcoin remained a focal point for investors, witnessing outflows amounting to $284 million. Interestingly, Ethereum stood out by attracting $30 million in inflows, breaking its prolonged streak of outflows. Moreover, several alternative cryptocurrencies, or altcoins, also experienced inflows during the same period. Among them, Avalanche, This shift in investment patterns suggests a nuanced evolution within the market.
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