Net inflows to exchange-traded funds (ETFs) recovered last week after snapping a 9-day streak of outflows. In the past couple of days, these vehicles received around $44 million from investors.
Nonetheless, data from SoSoValue shows that, in the past 2 months, market participants have withdrawn more than $1 billion out of these funds, confirming that the market’s tone continues to be bearish.
Even though the Fear and Greed Index has recovered from a recent low of 15 (Extreme Fear) to 25 (Fear), the crypto market does not seem to be out of the woods yet as indicated by ETF inflows and this latest price action.
ETH Bounces Off Multi-Year Support But Breaks Long-Dated Buy Signal
In Ethereum’s case, our weekly buy signal was invalidated as the price dropped below its previous low.
Source: Original Article
