Ether exchange-traded funds lost $3 million on Tuesday following a seven-day run of positive inflows, which came on the heels of an $8 million exit from Zcash products at the beginning of the week.
American spot Bitcoin ETFs prolonged their consecutive net inflow period to nine sessions, whereas products tied to Ether and Zcash shifted into negative flows.
Bitcoin funds pulled in $66.2.million on Tuesday, elevating the total net capital gained throughout this positive streak to approximately $3.1 billion, based on figures provided by SoSoValue. Their aggregate net inflows for the year-to-date climbed to near $1 billion.
Conversely, certain altcoin vehicles experienced a trend reversal. Spot Ether ETFs terminated their seven-day winning streak by registering roughly $3 million in net withdrawals on Tuesday. Those vehicles had previously captured more than $851 million across the seven sessions, pushing overall cumulative net inflows close to $14 billion.
Earlier in the week, Zcash ETFs halted a six-day inflow run after logging $8 million in net outflows on Monday.
At the time of writing, Bitcoin exchanged hands around $83,567, marking a 0.4% decline over the preceding 24 hours, as reported by CoinGecko. Overall digital asset sentiment cooled marginally as well, with Alternative.me’s Crypto Fear & Greed Index dropping from 73 to 71 compared to the previous day, though it stayed firmly within the “Greed” zone.
“The rise in crude prices is capping non-yielding assets, so Bitcoin’s rally has taken a bit of a pause,” Kyle Rodda, senior financial market analyst at Capital.com, told Cointelegraph.
Rodda explained that Bitcoin might find it challenging to recapture upward momentum as long as energy market risks endure, despite its technical outlook staying “quite constructive.”
Related: Bitcoin ETF inflows leave institutional demand unclear: CoinShares
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Originally published at https://cointelegraph.com/markets/bitcoin-etf-streak-9-day-ether-zcash-flip-red?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
