The crypto market, which recently had the look of an emotional desert, is gradually regaining its colors. Not exactly a red carpet, of course. But the momentum is there. Massive outflows have calmed, whales are showing themselves, and even ETFs – those financial products sometimes seen as boring – seem attractive again. Between timid optimism and encouraging technical signals, one thing is certain: something has moved. And bitcoin is no longer alone. Ethereum, Solana… the whole pack is attempting a breakthrough.
After four weeks of bleeding, totaling 4.35 billion dollars in losses, Bitcoin ETFs breathe again. Last week, 70 million dollars returned to the coffers. The amount is modest but the symbolism is strong. Major investors resurface, the curves breathe.
Bitcoin’s RSI flirts with the oversold zone, which could indicate a bottom. Several major players have reopened long positions, suggesting a possible rebound towards the 100,000 to 110,000 dollar range.
Granted, BlackRock suffered 113.7 million in outflows from its IBIT. But Fidelity and ARK 21Shares compensated with 77.5 M$ and 88 M$ of inflows respectively. The dynamic is more diffuse but very real. Doubt recedes, conviction returns.
BlackRock’s IBIT ETF became its most profitable product in under a year. It generates 245 million dollars in fees annually and already weighs 70 billion dollars. This fund holds 3.9% of the global BTC. Institutional players are no longer spectators.
But this week, it is Ethereum that surprised. The ETHA fund captured 257.2 million in four days, representing 82% of inflows on ether. The weekly total reaches 312.6 million, wiping out three weeks of decline, including a drop of 728.6 million in mid-November.
Current prices do not reflect the improvement in the macroeconomic context. If investors are reassessing their expectations, Bitcoin’s upside potential is underestimated, analyzes André Dragosch from Bitwise Europe.
Ether ETFs now total 19.15 billion in assets, representing 5.2% of Ethereum’s capitalization. The comeback is organized silently, but it makes noise in the flows.
Solana broke its streak of 21 days of positive inflows with an outflow of 8.1 million on Wednesday. But by Friday, the tide turned: 5.4 million returned. Grayscale (4.33 M$) and Fidelity (2.42 M$) fueled the rebound, even though 21Shares recorded 1.4 M$ of withdrawals.
This hesitation is not isolated. On Friday alone, 3.4 billion dollars were traded on Bitcoin ETFs. For Ethereum, 1.11 billion circulated. Active trading despite still fresh scars.
James Butterfill, a researcher at CoinShares, makes a strong observation: last month represents the third-largest series of withdrawals since 2018, with a 36% drop in assets under management.
The crypto industry is still taking hits, but it is moving. Financial products, often cold, have become the thermometers of a market that seeks to revive.
At the current pace, one question remains: has bitcoin finished falling? A well-known analyst recently identified an explosive setup. If inflows confirm the trend, BTC could regain altitude faster than expected. Signals align. The question is whether the rocket is ready for a new takeoff.
