2024

Bitcoin

Gary

when

<p><strong>Bitcoin and Ether exchange-traded funds (ETFs) record record outflows after the excitement sparked by Donald Trump’s speech. Last week, Bitcoin surged to over $69,000 when Trump spoke at the Bitcoin 2024 conference in Nashville! He announced his intention to fire Gary Gensler and create a strategic bitcoin reserve if elected.</strong></p>
<h2 id="h-effondrement-des-etf-bitcoin-et-ether-apres-l-euphorie-du-discours-de-trump">Collapse of Bitcoin and Ether ETFs after the excitement of Trump’s speech!</h2>
<p>This <a href="https://www.cointribune.com/en/ethereum-gas-fee-drop-boosts-crypto-market/" target="_blank" rel="noopener noreferrer nofollow">surge</a> in assets was short-lived. Bitcoin ETFs recorded net outflows of $18 million, breaking a four-day streak of inflows that had reached up to $124 million. Grayscale’s IBIT fund led the outflows with $73 million, while Bitcoin products from Fidelity, Ark Invest, Bitwise, and VanEck saw outflows ranging from $2 to $7 million. Only BlackRock’s IBIT fund recorded inflows, reaching nearly $75 million.</p>
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<p>Meanwhile, Ether ETFs continued to have a tough start with nearly $100 million in <a href="https://sosovalue.xyz/" target="_blank" rel="noopener noreferrer nofollow">net outflows</a>, extending a four-day losing streak. Assets under management have decreased by nearly $1 billion since the products launched on July 23. Grayscale’s ETHE fund recorded the largest losses with $1.84 billion, while BlackRock’s ETHA fund led the inflows with $618 million.</p>
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<h2 id="h-les-investisseurs-inquiets">Investors Worried!</h2>
<p>This volatility is partly due to macroeconomic concerns, including the results of major US tech companies due to be released <a href="https://www.cointribune.com/en/these-major-events-are-going-to-shake-up-the-crypto-market-this-week/" target="_blank" rel="noopener noreferrer nofollow">this week</a>. Traders are also concerned about the FOMC meeting and unemployment data scheduled for Friday. The recent decision by the US Marshals Service to transfer $2 billion worth of bitcoin to two new wallets has also fueled fears of an imminent massive sell-off.</p>
<p>Although <a href="https://www.cointribune.com/en/crypto-donald-trump-decides-to-fire-gary-gensler/" target="_blank" rel="noopener noreferrer nofollow">Trump’s announcements</a> initially boosted bitcoin prices, macroeconomic uncertainties and market movements quickly reversed this trend. Investors remain cautious, closely monitoring upcoming economic and political developments.</p>

Bitcoin and Ether ETFs Plunge After Trump Euphoria!

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Cointribune EN

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