BTC and the broader crypto market experienced a selloff over the weekend, with BTC trading slightly above $58,500, down 4.8% in the last 24 hours.
U.S.-listed exchange-traded funds tracking these assets recorded outflows on Friday, with BTC ETFs losing $89 million and ETH ETFs seeing $15.7 million in outflows.led to a wider crypto market selloff over the weekend as some traders looked for cues ahead of a busy week to determine positioning.U.S.-listed exchange-traded funds tracking the assets recorded outflows on Friday. BTC ETFs lost $89 million, while ETH ETFs saw $15.
“Crypto markets lack a clear anchor and are susceptible to continued position adjustments. We continue to see muted ETF inflows for BTC and ETH over the past few sessions,” Fan added.. Australia’s consumer confidence, which tracks sentiment around family finances, and Japan’s Producer Price Index , a measure of price developments of goods traded within the corporate sector, are scheduled for a Tuesday release.
Later in the week, retail behemoths Alibaba Group and Walmart will release earnings on Thursday, while Hong Kong and Taiwan will publish updated gross domestic product on Friday. Traditional market events tend to move crypto prices as they reveal spending behavior and the state of the general economy. Favorable releases tend to sway prices upward as investors are expected to bet more on riskier assets, such as technology stocks or cryptocurrencies, while an earnings or data miss tends to drive assets lower, as investors shift to safer bets.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.