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Bitcoin Holds Steady as Tech Stocks Plunge, Ether Slips After ...
2024-07-25 22:59:45
Finance
Markets
Stocks

Bitcoin Holds Steady as Tech Stocks Plunge, Ether Slips After ETF Launch

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Bitcoin remained stable despite the decline in tech stocks, while Ether dropped after the launch of ETFs. The CoinDesk 20 Index remained flat, with mixed performance from other cryptocurrencies such as Solana, Ripple, Avalanche, Uniswap, and Ethereum Classic.

Wintermute analysts commented on the impact of the ETF launch. Disappointing earnings from Alphabet and Tesla also added to market concerns.

Traders will be closely watching upcoming U.S. economic data and Donald Trump's speech at the Nashville Bitcoin conference. Despite ETF approval, the price of Ether remains sluggish due to external factors such as elections and Mt. Gox selloffs.

The stablecoin market cap reached a new high, indicating growing investor optimism. Solana ETFs have attracted interest from investors following the success of bitcoin and ethereum ETF launches.

Spot ethereum ETFs surpassed $1 billion in trading volume on their first day. Overall, the market experienced volatility due to China's rate cuts and a steepening U.S.

Treasury yield curve.

Related news on that topic:

Key Takeaways on Ethereum ETFs

Ethereum ETFs approved by SEC, set to begin trading; analysts predict billions in inflows; Bitwise CIO Matt Hougan believes ETH ETFs will not cannibalize Bitcoin ETFs, may accelerate their growth; Bloomberg analyst James Seyffart to watch trading volumes over first weeks as indicator of real demand; Grayscale, BlackRock, Fidelity among key players; Bitcoin ETFs attracted $15 billion in 5 months; Seyffart estimates Ethereum ETFs may attract one-fifth of that. Coinbase Institutional says spot crypto ETFs signal transition to digital assets. Ethereum ETF debuts attract $106.6M inflows; ETH flat, Bitcoin, Solana, Ripple gain 1.1-5.5% at 2pm NY. SEC Commissioner Peirce suggests Ethereum ETFs could allow staking in the future. New Ethereum spot ETFs launched, drawing $107M in investment. Franklin Templeton considering Solana-based ETF after Ethereum success. Investors eye Solana ETFs after successful bitcoin and ethereum launches.

Ethereum ETF Launch Triggers Sell-Off and Restaking Sector Slide

The launch of Ethereum ETFs led to a sell-off with Grayscale Trust experiencing significant outflows. Bitwise saw inflows, but ETH price dropped 8%. Wall Street struggles to define ETH's value amidst potential declines from US earnings and seasonal weakness. Restaking sector also declined as EigenLayer, Renzo, and Kelp reported $2.3B in outflows due to lagging yields. Ethena's 10%+ yield stands out, while Jito introduces Solana restaking. As ETH faces corrections in a descending channel pattern, risk aversion sentiment and tech shares' decline compound its losses.

Read 3 more recent news on this topic

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The Street
25. Juli 2024 um 15:27

Spot ether ETFs to begin trading next week, report says

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Spot ether ETFs launching next week from BlackRock, Franklin Templeton, VanEck; $15 billion in estimated inflows; ethereum price jumps 6%; ethereum network, stablecoin growth, fewer regulatory hurdles to propel price; 21Shares, Grayscale, Fidelity, Bitwise, Invesco also vying for spot ether ETF; staking to benefit investors and network; mature market structure, bitcoin and ethereum ETFs key drivers; Nathan McCauley, CEO of Anchorage Digital, says approval is first step, staking next.
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Bitcoin's mainstream adoption faces volatility concerns for companies' balance sheets, but crypto expert Levin highlights rise of bitcoin ETFs for retail exposure. Bitcoin Bros' Williams advises dollar-cost averaging to manage volatility, citing MicroStrategy's investment and strategy's 10-year success. Levin explains SEC's missions, noting bitcoin's money service classification poses challenges. Williams likens investing to traditional principles of consistent, small contributions, advising i..
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Spot Bitcoin ETFs attract $1 billion in just three days

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Spot Bitcoin ETFs saw $1B 3-day inflows, $17B lifetime inflows; BlackRock, Fidelity ETFs led inflows; Mt. Gox distributed crypto to victims; German govt sold Bitcoin, impacting prices; Trump's pick J.D. Vance is pro-crypto, criticized SEC Chair Gensler; Bitcoin price recovered 23% since July 5th low; July 16th saw $420 million inflow, a 6-week high.
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31. Juli 2024 um 12:46

The most important thing to watch when Ethereum ETFs start trading

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Ethereum ETFs approved by SEC, set to begin trading; analysts predict billions in inflows; Bitwise CIO Matt Hougan believes ETH ETFs will not cannibalize Bitcoin ETFs, may accelerate their growth; Bloomberg analyst James Seyffart to watch trading volumes over first weeks as indicator of real demand; Grayscale, BlackRock, Fidelity among key players; Bitcoin ETFs attracted $15 billion in 5 months; Seyffart estimates Ethereum ETFs may attract one-fifth of that.
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