Spot bitcoin ETFs experienced $192 million in back-to-back outflows for the first time since late July, coinciding with bitcoin’s drop to its lowest level since August 3. U.S. stocks rose on lower-than-expected producer price inflation data, but crypto markets lagged, with bitcoin and ether falling despite some altcoins showing resilience.
SoSoValue data revealed the outflows, marking a sharp reversal in investor sentiment as prices for bitcoin fell to $63,095.49. Ether declined 0.73% to $1,882.29, while U.S. producer price inflation cooled to 4.7%, below forecasts, failing to translate into broader crypto market gains.
Ether.fi’s expansion of its neobank platform, which added tokenized stocks and DeFi loans, drove a 11.5% price increase for its native token. Meanwhile, Cosmos (ATOM) surged over 10% in 24 hours, with trading volume rising 232% to $51 million, highlighting divergent performance across the crypto sector.
Bitcoin Cash (BCH) saw a 10% increase in open interest amid shorting activity, while Hedera (HBAR) recorded the most negative 24-hour CVD among top 25 coins. Both bitcoin’s 30-day implied volatility index (BVIV) and ether’s equivalent (EVIV) fell below 36%, reflecting reduced market uncertainty.
Other altcoins, including Fetch.ai (FET), Monero (XMR), NEAR, MORPHO, TAO, and JUP, exhibited varied price movements, underscoring the fragmented nature of crypto market responses to macroeconomic data.
Written by Oliver Grant
Markets Desk
