Bitcoin wallets holding between 1,000 and 10,000 BTC increased their holdings while prices slid over the past few days, while those owning less than 1 BTC were sellers, IntoTheBlock data shows.
Bitcoin ETFs saw $168 million net outflows on Monday, led by Grayscale's GBTC, Fidelity's FBTC and 21Shares/Ark Invest's ARKB.investors endured a rollercoaster of action as prices plummeted through the weekend to $49,000 by early Monday before modestly rebounding to around the $56,000 level in morning U.S. hours, triggering diverse reactions by holders.
Crypto wallets holding between 1,000 and 10,000 BTC, worth roughly $56 million and $560 million at current prices,"demonstrated confidence during the recent dip, consistently increasing their holdings as prices fell," IntoTheBlock analysts said. Meanwhile, wallets with less than 1 BTC"showed weak hands, with the most substantial decrease in holdings during yesterday's market downturn, they added.. Outflows were limited to Grayscale's GBTC, Fidelity's FBTC and 21Shares/Ark Invest's ARKB, while rivals showed very modest inflows or flat performance.only represented 0.3% of the total assets under management in the ETFs.
"That's peanuts," Balchunas said, referring to the overall level of flows yesterday."That said, it's one day, I could see some more outflows this week. I was thinking a couple billion would leave. So far though, looking much stronger than that."in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.