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Ethereum’s major holders are returning to the market. Amid the past week’s market consolidation, major players have seized the opportunity to accumulate ETH aggressively.

On-chain data reveals an uptick in whale holdings, while ETH-based exchange-traded funds (ETFs) recorded their first weekly net inflow in eight weeks, signaling a significant shift in sentiment.

ETH Whale Accumulation and ETF Inflows Hint at Imminent Price Surge

According to on-chain data, leading altcoin ETH has noted a significant spike in its large holders’ netflow over the past week. According to the on-chain data provider, this has rocketed 2682% in the past seven days.

Large holders of an asset refer to whale addresses holding more than 0.1% of its circulating supply. The large holders’ netflow metric tracks the difference between the coins these investors buy and the amount they sell over a specific period.

When an asset’s large holders’ netflow surges, its whale investors are ramping up their coin accumulation. This accumulation trend suggests a belief in ETH’s future upside, as major holders tend to act when they see value at current price levels. 

Adding to the bullish narrative, ETH-backed ETFs recorded their first weekly net inflow in eight weeks. According to SosoValue, net inflows into ETH-backed ETFs reached $157.09 million between April 21 and April 25, reversing an eight-week streak of outflows totaling over $700 million.

With major players re-entering the market, ETH could be poised for further upside in the near term.

Ethereum Sees Bullish Momentum

On the technical side, ETH’s positive Balance of Power (BoP) highlights the resurgence in demand for the leading altcoin. This is currently at 0.31. 

This indicator measures the buying and selling pressure of an asset. When its value is positive, pressure outweighs selling pressure. This indicates strength in the ETH’s price movement and signals further potential upward momentum. If this happens, ETH could rally back above $2,000 to exchange hands at $2,027.

However, if market sentiment worsens, ETH could shed recent gains and plummet to $1,385.

The post Ethereum Whales are Coming Back as ETFs Show Net Inflow After 8-Weeks appeared first on BeInCrypto.

Bitcoin ETF outflows have nearly amounted to $750 million in the last two days as the crypto market consistently fell. BlackRock, the largest issuer, has offloaded around 2,000 BTC in the previous 24 hours.

Together, the ETF issuers sold off enough BTC that they collectively hold less than Satoshi. They surpassed him three months ago and continued buying huge amounts of Bitcoin, indicating truly massive sales.

Bitcoin ETF Outflows Continue

Since the Bitcoin ETFs first got SEC approval last year, they’ve had a transformative impact on the market. Lately, however, they’ve been turning bearish.

Towards the end of February, the market saw $2.7 billion in outflows, and this trend continued. The last four consecutive weeks had outflows, and the market already lost nearly $750 million this week alone.

This marks the seventh consecutive day of outflows for this ETF market. IBIT, BlackRock’s product, led these losses with $151 million in the last 24 hours.

In mid-February, some analysts began speculating that BlackRock would begin selling its Bitcoin, and ETF analyst Shaun Edmondson noticed how large of a trend it’s becoming:

“I know the markets are very ‘risk off’ at the moment with the Tariff uncertainty, but this is yet another outflow day from the US Spot ETFs, collectively now falling below Satoshi again. Given the bullish narrative from the SEC, Strategy raising 21 billion, State [Bitcoin Reserve] race and National [Bitcoin Reserve] bill, I find this a little surprising,” Edmondson claimed.

BlackRock alone has offloaded around 2,000 BTC since Edmondson posted yesterday’s daily tallies. It’s unclear how far the ETF issuers want to take this trend, but these Bitcoin sales are very concerning.

These issuers surpassed Satoshi’s Bitcoin holdings in December, so these outflows have already eaten up three months’ worth of vociferous purchasing.

Still, despite this ETF pessimism, Bitcoin’s actual price could be doing a lot worse. The entire crypto market has been hit with massive outflows, and BTC fell accordingly.

However, the US CPI report this morning was better than anticipated, which allowed Bitcoin a little breathing room. It’s anyone’s guess, however, how long this reprieve will actually last.

The post US Bitcoin ETF Holdings Fall Below Satoshi As Outflows Continue appeared first on BeInCrypto.