Cryptocurrency Markets See Gains Across the Board Despite Ongoing ETF Outflows, Indicating Underlying Strength in the Market

Notable Statistics: Notable Developments: Top Gainers: Trader Notes: With Bitcoin prices continuing its uptrend, crypto trader Jelle noted that it is moving

Cryptocurrency markets showed strength on Wednesday evening, with most major coins posting gains despite a recent outflow of exchange-traded funds (ETFs).

However, the markets remained largely flat over the past 24 hours.

notable statistics

The world’s largest cryptocurrency, Bitcoin (BTC), rose 0.68% over the past 24 hours to trade at an average price of $96,104.

BTC’s price remained largely unchanged over the past seven days, showing a 0.04% decrease.

However, BTC’s price was up by 2.26% over the past 30 days, showing a slight recovery from a recent market downturn.

Ether (ETH) also posted gains on Wednesday evening, rising 0.43% to trade at an average price of $3,240.

ETH’s price showed a 0.33% increase over the past seven days and a 3.63% gain over the past 30 days.

Binance Coin (BNB) showed minimal gains, rising 0.07% to trade at an average price of $621.

BNB’s price was largely unchanged over the past seven days, showing a 0.02% decrease, and showed a 1.17% gain over the past 30 days.

Cardano (ADA) rose 0.43% to trade at an average price of $1.40.

ADA’s price showed a 0.43% increase over the past seven days and a 3.63% gain over the past 30 days.

Solana (SOL) also showed minimal gains, rising 0.07% to trade at an average price of $161.

SOL’s price was largely unchanged over the past seven days, showing a 0.02% decrease, and showed a 1.17% gain over the past 30 days.

notable developments

Major cryptocurrency markets showed strength on Wednesday evening despite a recent outflow of crypto ETFs, indicating underlying strength in the market.

However, the markets remained largely flat over the past 24 hours with minimal price movements.

Crypto ETFs saw outflows for a second day in a row on Wednesday, according to data from ETF.com.

The ProShares Bitcoin Strategy ETF (BITO) saw outflows of $10.9 million, while the Valkyrie Bitcoin Strategy ETF (BTF) saw outflows of $1.2 million.

The GraniteShares Short Bitcoin Strategy ETF (BITI) saw inflows of $1.2 million.

Cryptocurrency markets showed resilience on Wednesday despite the outflows, with most major coins posting gains.

However, the markets remained largely flat over the past 24 hours with minimal price movements.

top earners

The top gainer on Wednesday evening was Lido DAO (LDO), which rose 4.07% to trade at an average price of $3.68.

Other top gainers included Chain (XCN), which rose 3.46%, and Fetch (FET), which rose 2.93%.

The top loser on Wednesday evening was STEPN (GMT), which fell 3.17% to trade at an average price of $0.86.

Other top losers included Theta Fuel (TFUEL), which fell 2.53%, and Stacks (STX), which fell 2.19%.

trader notes

With Bitcoin prices continuing its uptrend, crypto trader Jelle noted that it is moving as expected. He believes things will look much better after $97,000.

Echoing similar sentiment, crypto trader Mayne termed this as a nice move after a run of the lows. While awaiting CPI data, he recommends flipping the midrange level to maintain the upward push.

Crypto trader EliZ notes Bitcoin has reached a critical trigger point but highlights indecision in the market. He advises adjusting stops to breakeven for active positions.

More Crypto Online explained that the recent upside move could indicate a potential bottom if the price holds above $94,244, with an ideal next high reaching at least $97,995. The pattern resembles the lead-up to the January 6th top but appears weaker.

The rally began from a favorable location, increasing the chances of a low being established yesterday. A confirmed upside reversal requires the price to form and hold a higher low in a subsequent wave 2.