Small tokens outperform major cryptocurrencies as Bitcoin remains below $83,500
- The CoinDesk 80 index increased by approximately 3% in the last 24 hours.
- Bitcoin (BTC) is trading below $83,500, following a peak above $84,000 on Sunday.
- Ethereum (ETH) has gained around 2.5%, currently priced at $2,560.
- U.S.-listed spot bitcoin ETFs experienced net outflows of $681 million last week, marking the highest since June.
- Spot ether ETFs have faced nine consecutive days of outflows, the longest streak since June.
Despite a recovery in order-book depth for Bitcoin and Ethereum to pre-crash levels, liquidity for altcoins continues to decline. Market makers are focusing on major cryptocurrencies while institutional investors withdraw funds from ETFs.
Currently, Bitcoin is holding steady below $83,500 after significant selling pressure led to notable outflows from ETFs last week.(Source)
