Crypto Markets Calm Exterior Hides Frenzied Activity: Analyst

Institutions Split on Crypto Funds as Trading Volumes Soar

Institutions are evenly split on crypto funds this week, according to the latest analysis from CoinShares. The firm’s report shows that in the last seven days, there were $11.2 million in outflows, indicating a lack of dominance from either bulls or bears. However, a closer look reveals more insight. Trading volumes surged to $2.8 billion, a 90% increase above the year-to-date average. James Butterfill, head of research for CoinShares, compared the situation to a duck swimming fiercely beneath the surface. He attributed the numbers to the legal and emotional ups and downs experienced in the crypto market last week.

Grayscale’s recent appeal victory against the SEC to convert its Bitcoin trust to an ETF was short-lived, as the regulatory agency delayed several spot Bitcoin ETF applications, including BlackRock’s. Butterfill explained that the low institutional flows this week suggest polarized opinions among investors, with some seeing the delay as bad news and selling, while others view the price weakness as a buying opportunity. Despite the short-term downtrend, 2023 has seen entities acquiring $165 million worth of digital assets. Bitcoin experienced a reversal, with inflows of $3.8 million in the last week.

Germany led in outflows with $26.9 million, while Switzerland made purchases worth $14.8 million. Altcoins also saw outflows, with Polygon and Ethereum leading the pack. As trading volumes soar, traders and investors may anticipate a more active fourth quarter.

Hot Take: Institutions Divided on Crypto Funds While Trading Volumes Surge

The recent analysis from CoinShares indicates a split among institutions regarding crypto funds this week. With $11.2 million in outflows, it seems that neither bulls nor bears are in control. However, a closer examination reveals that trading volumes have skyrocketed, reaching $2.8 billion, a 90% increase from the year-to-date average.

James Butterfill, the head of research for CoinShares, compares this situation to a duck swimming frantically beneath the surface. He attributes these numbers to the roller coaster of legal and emotional turmoil experienced in the crypto market last week.

Despite Grayscale’s appeal victory to convert its Bitcoin trust to an ETF, the SEC’s delay of multiple spot Bitcoin ETF applications, including BlackRock’s, dampened the celebration. Butterfill explains that the low institutional flows this week suggest a polarization of investor opinions. Some see the delay as negative news and choose to sell, while others perceive the price weakness as an opportunity to buy.

Although Bitcoin’s current price stands at $25,853, experiencing a modest 1.1% drop in the week, large entities have been selling for seven consecutive weeks, totaling $342 million. However, 2023 has remained positive overall, with entities acquiring $165 million worth of digital assets.

While the majority of altcoins saw outflows, with Polygon and Ethereum leading the pack, Bitcoin saw inflows of $3.8 million in the last week. Germany experienced the highest outflows with $26.9 million, while Switzerland made purchases worth $14.8 million. Other countries such as the United States and Canada saw minimal buying activity.

As trading volumes continue to surge, today’s numbers may spark anticipation among traders and investors for a more active fourth quarter in the crypto market.

Hot Take: Institutions Split on Crypto Funds as Trading Volumes Surge

According to the latest analysis from CoinShares, institutions have conflicting views on crypto funds this week. The report reveals $11.2 million in outflows, suggesting a lack of dominance from either bulls or bears. However, a closer look shows a significant increase in trading volumes, reaching $2.8 billion, 90% above the year-to-date average.

James Butterfill, head of research for CoinShares, compares this situation to a duck swimming vigorously beneath the surface. He attributes the surge in trading volumes to the legal and emotional ups and downs experienced in the crypto market last week.

Despite Grayscale’s successful appeal against the SEC to convert its Bitcoin trust to an ETF, the regulatory agency’s decision to delay spot Bitcoin ETF applications, including BlackRock’s, dampened the celebration. Butterfill explains that the low institutional flows this week indicate polarized opinions among investors. Some see the SEC’s delay as negative news and choose to sell, while others perceive the price weakness as an opportunity to buy.

Although Bitcoin’s price currently stands at $25,853, experiencing a slight 1.1% drop in the week, large entities have been selling for seven consecutive weeks, totaling $342 million. However, 2023 has remained positive overall, with entities acquiring $165 million worth of digital assets.

While most altcoins saw outflows, with Polygon and Ethereum leading the pack, Bitcoin saw inflows of $3.8 million in the last week. Germany recorded the highest outflows with $26.9 million, while Switzerland made purchases worth $14.8 million. The United States and Canada saw minimal buying activity.

As trading volumes continue to surge, today’s numbers may entice traders and investors, raising expectations for a more active fourth quarter in the crypto market.

Hot Take: Institutions Divided on Crypto Funds as Trading Volumes Skyrocket

Institutions are currently divided on crypto funds, as revealed by CoinShares’ latest analysis. The report indicates $11.2 million in outflows, implying that neither bulls nor bears hold control. However, a deeper analysis unveils a significant surge in trading volumes, soaring to $2.8 billion, which is 90% above the year-to-date average.

James Butterfill, CoinShares’ head of research, likens this situation to a duck swimming vigorously beneath the surface. He attributes the spike in trading volumes to the legal and emotional fluctuations witnessed in the crypto market last week.

Grayscale’s successful appeal against the SEC to convert its Bitcoin trust to an ETF was short-lived, as the regulatory agency decided to delay numerous spot Bitcoin ETF applications, including BlackRock’s. Butterfill explains that the low institutional flows this week indicate polarized opinions among investors. Some view the delay as unfavorable news and opt to sell, while others perceive the price weakness as an opportunity to buy.

Bitcoin’s current trading price is $25,853, reflecting a mere 1.1% drop in the week. However, significant entities have been selling for seven consecutive weeks, totaling $342 million. Nonetheless, 2023 has been predominantly positive, with entities acquiring $165 million worth of digital assets.

Although most altcoins experienced outflows, with Polygon and Ethereum leading the pack, Bitcoin saw inflows of $3.8 million in the past week. Germany witnessed the highest outflows at $26.9 million, while Switzerland made purchases worth $14.8 million. The United States and Canada recorded minimal buying activity.

With trading volumes continuing to surge, today’s numbers may evoke enthusiasm among traders and investors, creating expectations for a more dynamic fourth quarter in the crypto market.

Hot Take: Institutions Split on Crypto Funds, Trading Volumes Surge

The latest analysis from CoinShares reveals a division among institutions regarding crypto funds this week. The report shows $11.2 million in outflows, indicating that neither bulls nor bears have the upper hand. However, a closer examination uncovers a significant surge in trading volumes, reaching $2.8 billion, which is 90% higher than the year-to-date average.

James Butterfill, head of research for CoinShares, compares this situation to a duck swimming vigorously below the surface. He attributes the surge in trading volumes to the roller coaster of legal and emotional ups and downs witnessed in the crypto market last week.

Despite Grayscale’s successful appeal against the SEC to convert its Bitcoin trust to an ETF, the regulatory agency delayed multiple spot Bitcoin ETF applications, including BlackRock’s. Butterfill explains that the low institutional flows this week suggest a polarization of opinions among investors. Some interpret the SEC’s delay as negative news and choose to sell, while others perceive the price weakness as a buying opportunity.

Although Bitcoin’s current trading price is $25,853, experiencing a modest 1.1% drop this week, large entities have been selling for seven consecutive weeks, totaling $342 million. Nevertheless, 2023 has remained positive overall, with entities acquiring $165 million worth of digital assets.

While most altcoins experienced outflows, with Polygon and Ethereum leading the pack, Bitcoin saw inflows of $3.8 million in the past week. Germany had the highest outflows at $26.9 million, while Switzerland made purchases worth $14.8 million. The United States and Canada recorded minimal buying activity.

With trading volumes on the rise, today’s figures may ignite excitement among traders and investors, fostering hopes for a more active fourth quarter in the crypto market.

Hot Take: Institutions Split on Crypto Funds Amid Surging Trading Volumes

According to CoinShares’ latest analysis, institutions are divided on crypto funds this week. The report shows $11.2 million in outflows, indicating a lack of dominance from either bulls or bears. However, a deeper examination reveals a significant surge in trading volumes, reaching $2.8 billion, which is 90% above the year-to-date average.

Despite Grayscale’s successful appeal against the SEC to convert its Bitcoin trust to an ETF, the regulatory agency delayed multiple spot Bitcoin ETF applications, including BlackRock’s. Butterfill explains that the low institutional flows this week suggest polarized opinions among investors. Some see the delay as negative news and choose to sell, while others view the price weakness as an opportunity to buy.

Bitcoin’s current trading price is $25,853, reflecting a modest 1.1% drop this week. However, large entities have been selling for seven consecutive weeks, totaling $342 million. Nonetheless, 2023 has remained positive, with entities acquiring $165 million worth of digital assets.

While most altcoins experienced outflows, with Polygon and Ethereum taking the lead, Bitcoin saw inflows of $3.8 million in the last week. Germany had the highest outflows at $26.9 million, while Switzerland made purchases worth $14.8 million. The United States and Canada recorded minimal buying activity.

As trading volumes continue to surge, today’s data may generate enthusiasm among traders and investors, fostering expectations for a more active fourth quarter in the crypto market.

Hot Take: Institutions Split on Crypto Funds, Trading Volumes Reach New Heights

The latest analysis from CoinShares reveals a division among institutions when it comes to crypto funds this week. The report shows $11.2 million in outflows, suggesting that neither bulls nor bears have a clear advantage. However, a closer analysis uncovers a significant surge in trading volumes, which reached $2.8 billion, a staggering 90% increase compared to the year-to-date average.

James Butterfill, head of research for CoinShares, compares this situation to a duck swimming energetically beneath the surface. He attributes the surge in trading volumes to the legal and emotional ups and downs witnessed in the crypto market last week.

Despite Grayscale’s successful appeal against the SEC to convert its Bitcoin trust to an ETF, the regulatory agency decided to delay several spot Bitcoin ETF applications, including the one from BlackRock. Butterfill explains that the low institutional flows this week suggest a polarization of opinions among investors. Some perceive the SEC’s delay as bad news and choose to sell, while others view the price weakness as an opportunity to buy.

Bitcoin’s current trading price stands at $25,853, representing a minor 1.1% drop this week. However, large entities have been selling for seven consecutive weeks, totaling $342 million. Nonetheless, 2023 has remained positive overall, with entities acquiring $165 million worth of digital assets.

While most altcoins experienced outflows, Polygon and Ethereum took the lead with $8.6 million and $3.2 million in outflows, respectively. Bitcoin, however, saw inflows of $3.8 million in the past week. Germany had the highest outflows at $26.9 million, while Switzerland made purchases worth $14.8 million. The United States and Canada recorded negligible buying activity.

As trading volumes continue to surge, today’s data may spark excitement among traders and investors, leading them to anticipate a more dynamic fourth quarter in the crypto market.