![]() ![]() As the realization of profits increase, so too does the probability of establishing a macro top," Glassnode said.Īlso Read | All that glitters.: Private banks tell customers to beware of misleading crypto adsĮthereum saw inflows for a fourth straight week, of $12.6 million. "Spikes in on-chain profit-taking during bullish impulses are to be expected as the price climbs to new highs, and are typical for any bull market. "Bitcoin was ripe for a pullback and it might not be over yet before traders confidently feel a bottom has been made," said Edward Moya, senior market analyst at OANDA in New York.īlockchain data provider Glassnode, in its latest research report on Monday, said bitcoin holders took profits after it hit a record high earlier this month. ![]() The world's largest cryptocurrency hit a record high of $69,000 on Nov. On Monday, bitcoin was down 4.5% at $56,042. The inflows came despite a 10.4% drop in bitcoin last week. ![]() So far this year, total inflows into bitcoin products and funds hit $6.7 billion.Īlso Read | PM cautions democracies on crypto currency, says should not end up in wrong hands 19, with a year-to-date total of $9.2 billion, already exceeding total inflows of $6.7 billion in 2020.īitcoin got the lion's share of inflows with $114.4 million, equivalent to 74% of the total. Institutional investors poured in $154 million in the crypto sector in the week ended Nov. Cryptocurrency products and funds posted inflows in the latest week, with investors undeterred by the latest price corrections, weekly data from digital asset manager CoinShares showed on Monday. ![]()
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