
The market sentiment index score hasn’t been in the “Neutral” zone since Oct. 14, when Bitcoin was trading around $63,000.
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The $254 million inflow day was the third-largest ever on days when BlackRock’s IBIT failed to contribute.
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Inflows to crypto investment products rose over the past week, but Ethereum continues to lose investors’ interest.
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Crypto market analysts suggest the altcoin stumble may be tied to a recent spate of spot Bitcoin ETF outflow.
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Fidelity’s Bitcoin fund led the pack with $378.7 million in net inflows on the U.S. spot Bitcoin ETFs second-highest joint net inflow day.
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Mike Novogratz says crypto is in a “consolidation phase” and predicts that prices will bounce higher at the end of the current quarter.
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