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- Bitcoin ETFs Face Record Outflows -$1.2B in 2 weeks.
Bitcoin ETFs Face Record Outflows -$1.2B in 2 weeks.
And what else is moving the markets.
Matt Curda
September 10, 2024
Hello Investors!
Let’s see what’s moving the markets today.
Top 3 Market Highlights
Bitcoin ETFs Face Record Outflows -$1.2B in 2 weeks.
US-listed spot Bitcoin ETFs have experienced two consecutive weeks of outflows, losing $1.186 billion since August 27.
Source: Farside
Last week alone saw a record-breaking $797 million exit, matching March 2024’s peak.
Bitcoin shed $706 million, while Ethereum ETFs saw $91 million in outflows.
Despite this, September 9 marked a positive shift - the best day for Bitcoin ETFs since August 26.
Do you buy the dip or wait for the elections? |
My Thoughts
This was a painful period.
In general, September tends to underperform, especially during election years.
Stocks are down and erased August gains, Crypto is bleeding even more.
I expect more volatility and possible drawbacks until the November elections. Then it’s up only, but depending on the election winner, how much.
What I’m doing:
Cautiously adjusting my crypto leverage (long ETH),
Sold my bank stocks and will DCA into crypto in September,
Keep my monthly DCA in S&P 500, CNYA (Chinese index), and Bonds, and if the market drops more, I’ll rotate bonds into stocks.
Presidential Debate Tonight: Kamala Harris vs. Donald Trump
Source: Leonardo AI
Speaking of elections, tonight’s presidential debate between Kamala Harris and Donald Trump could have major implications for the crypto markets.
Investors are increasingly seeing the election toss-up as a pivotal moment for crypto markets.
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