Digital Asset Market Faces Turbulence As Ethereum And Bitcoin See Major Outflows

The digital asset market experienced significant volatility last week, with investment products seeing a total net outflow of $305 million, according to CoinShares.

Leading the pack was Bitcoin, which saw outflows totaling $319 million, reflecting a cautious sentiment among investors.

Ethereum wasn’t spared either, with outflows of $5.7 million and trading volumes stagnating. This stagnation in trading volume, coupled with growing reserves of Ethereum on exchanges, suggests a decrease in demand, raising concerns about a potential further decline in Ethereum’s price.

Exchange Reserves Signal New Distribution Phase Amidst Death Cross Concerns

“Ethereum reserves on exchanges continue to grow, the likelihood of a decrease in demand—and consequently, a further price decline—also increases.” – By @ShayanBTC7

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