Altcoins | CoinDesk

Investors Crawl Back to Ether Funds as Bitcoin Outflows Rise

Increasing altcoin flows impliy investors are starting to diversify across their digital asset holdings.

Haohan Xu of global digital asset trading network Apifiny breaks down his on-chain data on the kinds of trading volumes seen on his platform.

Hul 13, 2021

Analysts see the possibility of further selling pressure despite short-term relief.

“We expect volatility to remain under pressure until mid [to] late August,” said one trading firm.

Ether is attempting to break above the 50-day moving average for the first time since March.

China’s announcement preceded choppy price moves around $34,000, which left traders with little sense of direction.

The cryptocurrency is expected to hold support above $30,000.

Bitcoin sentiment is improving despite profit taking into July.

The outperformance came despite a negative month for the leading cryptocurrency by market cap.

Bitcoin shorts are unwinding positions into the month’s close. Traders watching for signs of capitulation.