This Week in Crypto: Key Developments and Market Reactions
Friday, 4 October 2024, 23:00
Crypto Market Analysis
The latest economic data from the US indicates a shift, affecting crypto investments. Labor market strength and consumer activity have raised concerns over the Fed's rate path.
US BTC-spot ETF Market Effects
- BTC-spot ETF outflows reached $274.3 million, following a prior week's inflows of $1,106.5 million.
- iShares Bitcoin Trust reported net inflows while popular names like ARK 21Shares faced substantial outflows.
SEC Appeal and XRP Impact
The SEC's recent appeal in the case against Ripple has spurred volatility in XRP, dropping prices significantly. Legal analysts speculate on the potential implications of this case for the crypto landscape.
ETH-spot ETF Trends
- ETH-spot ETFs also saw net outflows of $25.4 million, hinting at reduced market enthusiasm.
- Investment conditions have not favored ETH, despite its market presence.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.