Last week, the price of Bitcoin and Ether declined significantly. This reversed a trend that had been emerging.
Cryptography exchange-traded products (ETPs) CoinShares saw $1.43bn of outflows in the past week. This ended a run of two weeks that had brought in $4.3bn. reported Monday is a holiday.
Bitcoin was the main culprit.BTC) dipping Ether fell from $116,000 to just $112,000 in the week of August 18th.ETH) tumbled CoinGecko reports that the price of gold fell below $4100 on Tuesday, after beginning the week around $4250.
Ether spot losses last week were the second highest ever. exchange-traded funds (ETFs)With almost $430 Million withdrawn just on Tuesday, according SoSoValue
Most significant outflows in March
James Butterfill is the head of CoinShares research. According to him, $1.4 billion was the largest loss since March 2025.
Butterfill attributes the sale to “increasingly polarized” investor sentiment over US monetary policyPessimism over the Federal Reserve’s position drove $2 billion of outflows in the first week.
“However, sentiment shifted later in the week following Jerome Powell’s address at the Jackson Hole Symposium, which was widely interpreted as more dovish than expected, sparking inflows of $594 million,” He added.
Ethereum’s new tone of voice
Butterfill stated that Ether was the most affected by this shift, with a dramatic recovery mid-week resulting in $440,000,000 in outflows.
Bitcoin ETPs have seen a significant increase in outflows totaling over $1 billion.
Analysts noted a significant shift in the investor’s sentiment towards Bitcoin and Ether, given that Bitcoin experienced $1 billion in outflows while Ether has received $2.5 billion in inflows.
Related: Bitcoin ETFs hit 5-day losing streak, but Pomp says BTC is oversold
“Inflows year-to-date for Ethereum represent 26% of total assets under management compared to just 11% for Bitcoin,” Butterfill added.
Meanwhile, altcoin XRP’s (XRP) $25 million gain, Solana’s (12 million) gains and Toncoin ($1.5 million) $13 million were all mixed.
Magazine: ETH ‘god candle,’ $6K next? Coinbase tightens security: Hodler’s Digest, Aug. 17 – 23
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Source: cointelegraph.com
