{"id":268975,"date":"2024-03-21T13:49:16","date_gmt":"2024-03-21T08:19:16","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=268975"},"modified":"2024-03-21T13:49:16","modified_gmt":"2024-03-21T08:19:16","slug":"crypto-markets-rally-back-despite-sustained-spot-bitcoin-etf-outflows-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/crypto-markets-rally-back-despite-sustained-spot-bitcoin-etf-outflows-crypto-news\/","title":{"rendered":"Crypto Markets Rally Back Despite Sustained Spot Bitcoin ETF Outflows – Crypto News"},"content":{"rendered":"

<\/p>\n

Spot Bitcoin ETFs have shed $742 million over the past three days.<\/p>\n

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Digital assets bounced back with strength following a week of downward momentum, with more than half of the top 100 cryptocurrencies posting double-digit gains over the past 24 hours.<\/p>\n

Bitcoin (BTC) last changed hands for $67,200, marking a 10% recovery from yesterday\u2019s low of $60,950, according to CoinGecko.<\/p>\n

Spot Bitcoin ETFs continue to suffer outflows on March 20 despite the market recovery, with $385.6 million exiting the Grayscale Bitcoin Trust driving a daily outflow of\u00a0$261.6 million<\/a>\u00a0for the sector overall, according to Soso Value. The Invesco Galaxy Bitcoin ETF also hosted an outflow of $10.2 million.<\/p>\n

The action marks the second longest streak of consecutive outflows from spot Bitcoin ETF at three, with a record $326.2 million leaving the funds in aggregate on March 19. Grayscale was the sole fund posting an outflow, with investors withdrawing $642.5 million from the ETF.<\/p>\n

<\/p>\n

Spot Bitcoin ETF daily flows. Source: Soso Value.<\/figcaption><\/figure>\n

Ethereum rallied by 14% to reclaim the $3,500 level, rebounding from an interday low of roughly $3,070.<\/p>\n

Competition for Ethereum block space is calming down despite the market volatility. Base transaction fees burned $10,875 ETH over the past days, meaning the burn-rate has dropped to almost half of its average for the past 30 days with 90,214 ETH removed from supply.<\/p>\n

\"the-defiant\"
ETH\/USD. Source: CoinGecko.<\/figcaption><\/figure>\n

Solana (SOL) was the best-performing top 10 cryptocurrency after bouncing 16% from yesterday\u2019s local low. SOL last traded for $190.7, up from $164.3.<\/p>\n

SOL is the only cryptocurrency among the top 12 to hold a seven-day gain, with the asset currently up 14% on the week.<\/p>\n

\"the-defiant\"
SOL\/USD. Source: CoinGecko.<\/figcaption><\/figure>\n

Memecoins ranked among the strongest-performing top 100 digital assets. Floki (FLOKI), Pepe (PEPE), Dogecoin (DOGE), and DogWifHat (WIF) came in first, fourth, and 12th over the past 24 hours with gains of 40.8%, 21.7%, and 19.7% respectively. The combined capitalization of meme tokens sits at $54.9 billion after growing 15% in 24 hours.<\/p>\n

GameFi tokens also mounted an impressive bounce over the past day, sitting at a combined market cap of $28.4 billion after a daily recovery of 14%.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Spot Bitcoin ETFs have shed $742 million over the past three days. Digital assets bounced back with strength following a week of downward momentum, with more than half of the top 100 cryptocurrencies posting double-digit gains over the past 24 hours. Bitcoin (BTC) last changed hands for $67,200, marking a 10% recovery from yesterday\u2019s low […]<\/p>\n","protected":false},"author":2,"featured_media":268976,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-268975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/268975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=268975"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/268975\/revisions"}],"predecessor-version":[{"id":268982,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/268975\/revisions\/268982"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/268976"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=268975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=268975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=268975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}