Digital tokens remained relatively muted the past 24 hours after the latest slide.
The crypto market cap saw a minor 0.21% increase in the last day to $2.95 trillion, with Bitcoin hovering at $86,590.
Meanwhile, the latest ETF data confirm the current cautious stance, as investors become more defensive amidst prevailing uncertainty.
Bitcoin and Ethereum funds log significant outflows
SosoValue data shows Bitcoin spot ETF recorded $277 million in outflows on December 16, reflecting substantial institutional exit after the previous day’s $357 million withdrawals.
BlackRock’s IBIT accounted for most of yesterday’s outflows, at $210.7 million, with Bitwise (-$50.9 million), ARK Invest (-$16.9 million), and VanEck (-$18 million) following a similar path.
Meanwhile, Fidelity’s FBTC decoupled with $26.7 million inflows on December 16.
Also, Ethereum spot exchange-traded funds reflected the cautious stance, with yesterday’s outflows coming at $224 million.
That marked the fourth successive day of significant withdrawals.
ETH funds have suffered roughly $510 million in outflows within the last four days.
The staggering withdrawals from the largest cryptocurrency ETFs reflect caution and uncertainty among retail and institutional investors.
SOL and XRP products see targeted interest
While Bitcoin and Ethereum ETFs faced massive outflows, select altcoin funds attracted new capital on December 16.
Notably, Solana products attracted $3.64 million daily inflows, reversing the previous day’s $4.6 million exit.
On the other hand, XRP-linked ETFs continued their winning streak with $8.54 million in inflows.
The funds have seen positive flows since launching on November 13, now boasting over $1 billion in cumulative inflows.
Crypto ETFs as a sentiment gauge
Amidst the current uncertainty, ETF flows are offering a clear picture of investor behavior.
Massive Bitcoin and Ethereum outflows signal a cautious stance.
That indicates that market players are prioritizing risk management and portfolio rebalancing as volatility prevails.
At the same time, steady inflows into Solana and XRP ETFs confirm that investors aren’t exiting the crypto space entirely, but shifting to products with upside potential in the near term.
Meanwhile, the mixed activities confirm selective confidence, with minor inflows into altcoin confirming that investors remain opportunistic amid broad-based struggles.
Instead of retreating from the market fully, market players are choosing where to bet carefully to retain crypto exposure.
Crypto market overview
Digital tokens remained weak on Wednesday, as sellers flexed their muscles.
Bitcoin is trading at $87,019, and needs a breakout past $88,000 to adjust its short-term trend to bullish.
Failure to do that could see Bitcoin dip to $83,000, and the psychological zone at $80,000.
Altcoins will mirror BTC’s performance, with all eyes now on the $88,000 mark.
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