5 hours ago
The Ethereum price has been a joy to watch in recent weeks after initially struggling to keep pace with other large-cap cryptocurrencies. However, the past week will be a quick one to forget for the crypto market, especially the altcoin, which declined in value by over 12%. While this price slump experienced by Ethereum has been linked to the US Federal Reserve rate cut, the recent drab performances of the spot ETH exchange-traded funds (ETFs) could also be associated. After a lengthy spell of positive inflows, investor interest in the US-based ETH ETFs seems to be losing momentum. Spot ETH ETFs Snap 18-Day Positive Inflows Streak According to data from SoSoValue, the US-based spot Ethereum ETFs logged a total net outflow of $75.11 million on Friday, December 20. This marked the first time the Ethereum funds would be registering back-to-back negative performances. On Thursday, December 19, the Ethereum exchange-traded funds recorded a total net outflow of $60 million. This single-day performance put an end to the ETH ETF’s 18-day streak of positive inflows and the first negative day in December for the products. Related Reading: XRP Could Be The Altcoin To Recover Quickly, CryptoQuant Analyst Explains Why Surprisingly, BlackRock’s Ethereum Fund (with the ticker ETHA) was the only spot ETF that recorded outflows on Friday. According to market data from SoSoValue, the ETHA exchange-traded fund posted nearly $103.7 million to close the week. Meanwhile, Fidelity’s Ethereum Fund (with the ticker FETH) recorded $12.95 million in net inflow on Friday. Grayscale’s Ethereum Trust (ETHE) and Mini Trust (ETH) were the only other ETFs that registered positive inflows on the day, with $7.51 million and $8.10 million, respectively. These back-to-back days of negative performances saw a net $135 million flow out of the ETH exchange-traded funds in just two days in the past week. However, the crypto products finished with a weekly total net inflow — for the fourth consecutive week — of $62.73 million. Similarly, the spot Bitcoin ETFs appear to be losing interest from investors, as most funds recorded outflows to close the past week. The crypto products registered a daily net outflow of approximately $276 million on Friday. Ethereum Price As of this writing, the Ethereum price stands at around $3,342, reflecting a 2.4% decline in the past 24 hours. Given their impact on the value of ETH, it might be important for the spot ETFs to return to positive inflows if the Ethereum price is to see any relief. Related Reading: Bitcoin Drops Below $98K—Is This the Perfect Buying Opportunity for Investors? Featured image from iStock, chart from TradingView
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Solana Shows Signs of Recovery After Recent Price Drop
Solana`s price shows signs of recovery after a significant drop. Whale activity suggests a bullish trend may be emerging soon. Continue Reading: Solana Shows Signs of Recovery After Recent Price Drop The post Solana Shows Signs of Recovery After Recent Price Drop appeared first on COINTURK NEWS . NewsBTC
![Veteran investor Tom Lee says investors are better off remaining bullish on markets despite the recent correction in equities and other risk assets. In a new interview on CNBC, Fundstrat’s head of research says that the correction in equities – which saw the S&P 500 dip from above 6,000 to 5,832 – is likely an opportunity for investors to go long rather than stay cautious. “This is another buying opportunity in our view. 2024 has proven to be a year where the market’s been strong and it has eluded many opportunities for sustained weakness. I know [December 18th’s] pullback was really painful, but to us, I think the fundamental supporting stocks are intact and I think it’s a good opportunity for investors here.” Lee notes that the volatility index (VIX) – which measures the stock market’s expectation of volatility based on S&P 500 index options – rose sharply on December 18th. He says that historically, such a rapid rise has correlated with market bottoms. “The market has been bleeding lower. If you look at internals for the last ten days, [December 18th] looks capitulatory because not only did we have a 90% down day, but the VIX exploded by 75%. There are only four times in history where it’s risen 60% in a day, so [December 18th] was the fifth time in its 35-year history. Of those four times, the market recovered all of its losses within a week three out of the four times. The fourth time it took a month. So I think what you had was people panicking to get out of a momentum trade that’s ending because we’re so close to year-end. But here’s the interesting thing. The forward VIX-futures curve barely moved. So it was almost as if people were seeking protection through the VIX on [December 18th].” As of Friday’s close, the S&P 500 traded at 5,930 points. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Fundstrat’s Tom Lee Says Recent Market Dip an Opportunity for Investors – Here’s Why appeared first on The Daily Hodl .](/image/676831a6aaa84.jpg)
Fundstrat’s Tom Lee Says Recent Market Dip an Opportunity for Investors – Here’s Why
Veteran investor Tom Lee says investors are better off remaining bullish on markets despite the recent correction in equities and other risk assets. In a new interview on CNBC, Fundstrat’s head of research says that the correction in equities – which saw the S&P 500 dip from above 6,000 to 5,832 – is likely an opportunity for investors to go long rather than stay cautious. “This is another buying opportunity in our view. 2024 has proven to be a year where the market’s been strong and it has eluded many opportunities for sustained weakness. I know [December 18th’s] pullback was really painful, but to us, I think the fundamental supporting stocks are intact and I think it’s a good opportunity for investors here.” Lee notes that the volatility index (VIX) – which measures the stock market’s expectation of volatility based on S&P 500 index options – rose sharply on December 18th. He says that historically, such a rapid rise has correlated with market bottoms. “The market has been bleeding lower. If you look at internals for the last ten days, [December 18th] looks capitulatory because not only did we have a 90% down day, but the VIX exploded by 75%. There are only four times in history where it’s risen 60% in a day, so [December 18th] was the fifth time in its 35-year history. Of those four times, the market recovered all of its losses within a week three out of the four times. The fourth time it took a month. So I think what you had was people panicking to get out of a momentum trade that’s ending because we’re so close to year-end. But here’s the interesting thing. The forward VIX-futures curve barely moved. So it was almost as if people were seeking protection through the VIX on [December 18th].” As of Friday’s close, the S&P 500 traded at 5,930 points. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Fundstrat’s Tom Lee Says Recent Market Dip an Opportunity for Investors – Here’s Why appeared first on The Daily Hodl . NewsBTC
