Cryptocurrencies lost up to 10% this week and failed to recover from the impact generated by the flight of risk assets this week, when Iran attacked Israel.
He conflict in the Middle East harmed everyone risk assets, but above all to the world of cryptocurrencies. Bitcoin loses almost 7% so far this week, while other altcoins such as Solarium either Ripple They extend losses up to 10%. However, cryptocurrencies in the last 24 hours recover up to 5% as in the case of Doge Coin.
The worst start to October for Bitcoin
The flight in risk assets, a product of the war conflict in the Middle East, gave place the worst start to October, the most bullish month for Bitcoin.
According to data reviewed by Farside Investors, The spot Bitcoin ETFs recorded outflows of US$242.6 million on October 1this in the midst of sales by the majority of the funds that operated during said edition.
According to market datathe largest outputs of the edition were capitalized by Fidelity’s FBTC, which recorded US$144.7 million in sales. It is followed by Ark Invest’s ARKB with withdrawals of US$84.3 million, followed by Bitwise’s BITB, VanEck’s HODL and Grayscale’s GBTC, which contributed about US$32.7 million to the red balance, US$15.8 million and US$5.9 million, respectively.
Compared to these exits we have BlackRock’s IBIT, being the only spot Bitcoin ETF that contributed income for the edition of last October 1 for US$40.8 million, although they were not enough to turn around the expenses accumulated by the aforementioned products.
Source: Ambito
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