Digital Asset Inflows Surge While Ethereum Faces Bearish Pressure

According to CoinShares, digital asset investment products saw a notable $436 million in inflows last week, with Bitcoin dominating the field, attracting the entire $436 million.

On the other hand, Ethereum experienced $19 million in outflows, highlighting growing bearish sentiment around the asset. Blockchain stocks also showed strength, receiving $105 million in inflows.

According to CoinShares, digital asset investment products received $436 million in inflows last week. Bitcoin received $436 million in inflows, Ethereum received $19 million in outflows, and blockchain stocks received $105 million in inflows. https://t.co/xgjVB92PdI

— Wu Blockchain (@WuBlockchain) September 16, 2024

Ethereum’s futures market has shown signs of deepening bearishness, with the 50-day moving average of $ETH funding rates consistently trending downward, hitting the lowest levels seen in 2024. This downtrend indicates that short positions are gaining momentum, as traders are expecting further declines in Ethereum’s price.

Bearish Sentiment Deepens: #Ethereum’s Futures Market Shows Lowest Funding Rates of 2024

“Recently, the 50-day moving average of $ETH funding rates has been on a consistent downtrend, reaching its lowest levels in 2024.” – By @ShayanBTC7

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