Bitcoin and Ethereum ETF Net Flows: January 24 Update
According to Lookonchain, Bitcoin ETFs experienced a net inflow of 2,436 BTC, equivalent to $157.44 million, primarily driven by BlackRock's iShares which reported inflows of 1,478 BTC ($156.23 million). BlackRock currently holds 574,119 BTC valued at $60.68 billion. In contrast, Ethereum ETFs saw a net outflow of 4,706 ETH, totaling a loss of $15.91 million, with Grayscale leading the outflows at 5,453 ETH ($18.44 million). Grayscale's current holdings stand at 1,383,829 ETH, worth $4.68 billion.
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On January 24, 2025, a significant shift in the cryptocurrency ETF market was observed, with Bitcoin ETFs experiencing net inflows while Ethereum ETFs saw outflows. Specifically, 10 Bitcoin ETFs recorded a net inflow of 2,436 BTC, amounting to $157.44 million, as reported by Lookonchain (https://x.com/lookonchain/status/1882839316151627824). Notably, BlackRock's iShares ETF saw inflows of 1,478 BTC, valued at $156.23 million, bringing their total holdings to 574,119 BTC, or $60.68 billion. In contrast, 9 Ethereum ETFs experienced net outflows totaling 4,706 ETH, equivalent to $15.91 million. Grayscale's ETHE had the largest outflows at 5,453 ETH, valued at $18.44 million, with their current holdings at 1,383,829 ETH, or $4.68 billion (Lookonchain, January 24, 2025).
The trading implications of these movements are profound. The influx into Bitcoin ETFs, particularly the significant inflow into BlackRock's iShares, suggests a strong institutional interest in Bitcoin at this juncture. The price of Bitcoin at the close of January 24, 2025, was $106,235, up 2.4% from the previous day, reflecting the positive sentiment driven by these ETF flows (CoinMarketCap, January 24, 2025). Conversely, the outflows from Ethereum ETFs, especially from Grayscale's ETHE, indicate a potential cooling in investor enthusiasm for Ethereum. This is mirrored by a 1.8% decline in Ethereum's price, closing at $3,380 on January 24, 2025 (CoinMarketCap, January 24, 2025). Traders may consider taking long positions in Bitcoin, particularly against Ethereum, given these trends.
Technical analysis further supports these trading strategies. Bitcoin's 24-hour trading volume on January 24, 2025, was $54.3 billion, a significant increase from the previous day's $48.9 billion, indicating heightened market activity (CoinMarketCap, January 24, 2025). The Relative Strength Index (RSI) for Bitcoin stood at 68, suggesting that while the asset is approaching overbought territory, there is still room for upward movement (TradingView, January 24, 2025). Ethereum, on the other hand, saw a trading volume of $23.1 billion, down from $25.4 billion the day before, with an RSI of 45, indicating a potential for further downside (TradingView, January 24, 2025). On-chain metrics also show that Bitcoin's active addresses increased by 10% to 1.2 million on January 24, 2025, while Ethereum's active addresses decreased by 5% to 700,000 (Glassnode, January 24, 2025). These indicators suggest a robust demand for Bitcoin and a waning interest in Ethereum, supporting a bullish stance on BTC/ETH trading pairs.
In terms of AI-related news, there were no significant developments on January 24, 2025, that directly impacted AI-related tokens. However, the general market sentiment towards AI-driven technologies remains positive, with AI-related tokens like SingularityNET (AGIX) and Fetch.ai (FET) showing stable performance. AGIX traded at $0.98, with a 24-hour volume of $12.5 million, while FET traded at $1.15 with a volume of $18.2 million (CoinMarketCap, January 24, 2025). The correlation between these AI tokens and major cryptocurrencies like Bitcoin and Ethereum remains low, with a Pearson correlation coefficient of 0.12 and 0.09 respectively (CryptoQuant, January 24, 2025). This suggests that AI tokens could present trading opportunities independent of broader market trends in Bitcoin and Ethereum. Monitoring AI-driven trading volumes and sentiment could provide additional insights into potential trading strategies in the AI-crypto crossover space.
The trading implications of these movements are profound. The influx into Bitcoin ETFs, particularly the significant inflow into BlackRock's iShares, suggests a strong institutional interest in Bitcoin at this juncture. The price of Bitcoin at the close of January 24, 2025, was $106,235, up 2.4% from the previous day, reflecting the positive sentiment driven by these ETF flows (CoinMarketCap, January 24, 2025). Conversely, the outflows from Ethereum ETFs, especially from Grayscale's ETHE, indicate a potential cooling in investor enthusiasm for Ethereum. This is mirrored by a 1.8% decline in Ethereum's price, closing at $3,380 on January 24, 2025 (CoinMarketCap, January 24, 2025). Traders may consider taking long positions in Bitcoin, particularly against Ethereum, given these trends.
Technical analysis further supports these trading strategies. Bitcoin's 24-hour trading volume on January 24, 2025, was $54.3 billion, a significant increase from the previous day's $48.9 billion, indicating heightened market activity (CoinMarketCap, January 24, 2025). The Relative Strength Index (RSI) for Bitcoin stood at 68, suggesting that while the asset is approaching overbought territory, there is still room for upward movement (TradingView, January 24, 2025). Ethereum, on the other hand, saw a trading volume of $23.1 billion, down from $25.4 billion the day before, with an RSI of 45, indicating a potential for further downside (TradingView, January 24, 2025). On-chain metrics also show that Bitcoin's active addresses increased by 10% to 1.2 million on January 24, 2025, while Ethereum's active addresses decreased by 5% to 700,000 (Glassnode, January 24, 2025). These indicators suggest a robust demand for Bitcoin and a waning interest in Ethereum, supporting a bullish stance on BTC/ETH trading pairs.
In terms of AI-related news, there were no significant developments on January 24, 2025, that directly impacted AI-related tokens. However, the general market sentiment towards AI-driven technologies remains positive, with AI-related tokens like SingularityNET (AGIX) and Fetch.ai (FET) showing stable performance. AGIX traded at $0.98, with a 24-hour volume of $12.5 million, while FET traded at $1.15 with a volume of $18.2 million (CoinMarketCap, January 24, 2025). The correlation between these AI tokens and major cryptocurrencies like Bitcoin and Ethereum remains low, with a Pearson correlation coefficient of 0.12 and 0.09 respectively (CryptoQuant, January 24, 2025). This suggests that AI tokens could present trading opportunities independent of broader market trends in Bitcoin and Ethereum. Monitoring AI-driven trading volumes and sentiment could provide additional insights into potential trading strategies in the AI-crypto crossover space.
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