Crypto always seems to have a way of surprising me. One minute, everyone is in an uproar over a $530-million sell-off. Next, a $1 billion weekend comeback takes place, and I'm in awe at a marketplace that seems bent on not falling, regardless of whatever happens.
Bitcoin was the big winner in this one.
source from pixabay
It took in $486 million, and even short positions saw some activity. That tells me investors are still hedging both directions, but overall momentum is firmly bullish.
Ethereum, though? Not a lot of activity.
Zero inflows in terms of net inflows. I can hardly say I'm surprised, because its association with technology stocks puts it at risk for overall market trends. With all the new development, I'd not count it out yet, though.
XRP caught my attention too.
It’s been steadily bringing in inflows all year, with an additional $15 million added in the week gone by. That brings its year-to-date inflows to $105 million, which is pretty impressive for a coin that’s forever shrouded in doubt.
Then there’s the regional side of things.
America’s in first with $5 billion YTD (year to date), but Canada’s outflows stand out. $43 million in a week isn’t small money, and I have to wonder whether all of those tariffs took a larger bite than everyone realizes. Trump’s 25% tariffs for Canadian and Mexican goods, and 10% for Canadian and Chinese, can have a real impact. Markets don’t care for uncertainty, and such an economic burden will have spillover consequences well beyond crypto alone.
source from pixabay
It's obvious nowadays that such volatility isn’t a one-off and isn’t vanishing anytime soon. If anything, it confirms my long-term view: patience in such an environment is paramount, and that sellers at any dip miss out on such a rebound.
I'm not saying that such a dip won’t occur, but such inflows shows that big investors don’t have an urge to flee.
Not financial advice in anyway, just one of those random crypto blogs you would read out there.
DYOR always please.
Posted Using INLEO
Congratulations @wrenard! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next payout target is 100 HP.
The unit is Hive Power equivalent because post and comment rewards can be split into HP and HBD
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out our last posts: