Ethereum rose 9% in the last 24 hours after announcing plans to temporarily suspend tariffs yesterday. And while being supported by a US inflation report that surpassed expectations on Thursday morning, ETF flows show that many investors are still retreating from cryptocurrency.
At the time of writing, Ethereum prices have just surpassed $1,500 after a 0.4% drop in the past hour.
Bitcoin, which won 6.1% in the past day, outperforms the broader crypto market, with market capitalization seen as an increase of 4.2% from yesterday, according to data from Coingecko. Still, Bitcoin’s price profits are behind many of the most prominent altcoins.
XRP has increased by 11.5% over the last 24 hours, while Dogecoin and Solana have increased by 6.7% and 8.4% respectively.
But despite Bitcoin’s strong performance, Farside investors data shows that BlackRock’s IBIT ETF, the industry’s biggest BlackRock, is leading the pack with a $89.7 million withdrawal yesterday, with BlackRock’s IBIT ETF leading the pack with $89.7 million withdrawals. Only one fund in Bitwise’s BITB ETF had a positive flow of capital, winning $6.7 million.
This marks the day of Bitcoin ETF’s fifth consecutive year of leaks. It appears that institutional investors have not been traded for crypto market rebound following the US tariff announcement. Capital has flowed from Bitcoin ETFs for seven days of the last eight business days.
The Ethereum Fund showed even more net flow than cryptocurrency rebounds rose 8.1% yesterday. Yesterday, the Ethereum ETF was $11.2 million.
Investor sentiment about Bitcoin and Ethereum is bright
Many investors are still betting on price increases.
The majority of users of the market forecasting platform (93%) are betting on Bitcoin, which is below $78,000 by 11:59pm on April 10th.
Meanwhile, the Crypto Fear & Greed Index, a third-party sentiment analysis tool, also shows signs of optimism returning. It moved from “extreme fear” from the previous day, and for most of the past month, to “terror.”
However, the U.S. government’s tariff U-turn may not be the only one to promote optimism in Bitcoin and Ethereum.
Paul Atkins was officially confirmed by the Senate as the new SEC leader on Wednesday. Some believe Atkins, who was President Donald Trump’s pick, will bring a more loose-minded approach to code regulation than his predecessor, Gary Gensler.
Edited by Stacy Elliott.
