XRP, Bitcoin, Ethereum Prices Fall as ETF Inflows Slow Ahead of US Inflation Data
Top cryptocurrencies have pulled back this month as investors booked profits following the rallies seen in August and September. Bitcoin (CRYPTO: BTC) retreated to $83,350 on Sunday, down from its September high of $87,200. Ethereum (CRYPTO: ETH) also slipped to $2,533 from its September peak of $2,806, while XRP (CRYPTO: XRP) fell to $1.4093 from a high of $1.6555. The market capitalization of all coins has dropped from over $2.9 trillion in September to $2.8 trillion. XRP, Bitcoin, and Ethereum ETF Inflows Have Reversed There are signs that American investors are starting to book profits after the recent surge. Data shows that spot Bitcoin ETFs have had over $388 million in outflows this month. This is a big reversal after the funds added $2.65 billion in October and $3.52 billion in the previous month. Ethereum ETFs have also suffered outflows in the last nine consecutive days. They have shed over $634 million this month after adding $832 million in September and $1.85 billion a month earlier. Read Also: Nvidia-Backed Neoclouds Face a Test as IREN, CoreWeave and Nebius Stocks Slide XRP funds have done better, adding $12.09 million this month. They had over $121 million in inflow
Top cryptocurrencies have pulled back this month as investors booked profits following the rallies seen in August and September. Bitcoin (CRYPTO: BTC) retreated to $83,350 on Sunday, down from its September high of $87,200. 6555. 8 trillion.
XRP, Bitcoin, and Ethereum ETF Inflows Have Reversed There are signs that American investors are starting to book profits after the recent surge. Data shows that spot Bitcoin ETFs have had over $388 million in outflows this month. 52 billion in the previous month. Ethereum ETFs have also suffered outflows in the last nine consecutive days.
85 billion a month earlier. 09 million this month. They had over $121 million in inflows in September and $159 million in August. ETFs of other altcoins like Dogecoin, Hedera, and Zcash (CRYPTO: ZEC) have also had outflows.
More data shows that futures open interest has slipped in the past few days. It has dropped from a high of $158 billion on September 21 to the current $142 billion. Crypto futures open interest has dropped | Source: CoinGlass US Bond Yields and Inflation Report The ongoing price action happened as US bond yields continued rising. Data shows that the ten-year yield jumped to the highest level in over two decades.
92%. Bitcoin and other risky assets tend to underperform the market whenever bond yields are rising. This also explains why gold and other precious metals have pulled back in the past few weeks. The focus now is in the upcoming US consumer inflation report, which will provide hints on what to expect from the Fed.
Economists expect the upcoming report to show that inflation continued rising last month. 6%. These reports are important because they will have an impact on the Federal Reserve. 75% and 4% in this meeting.
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