Despite the slowdown in ETF’s momentum, Glassnode Ethrode derivatives show that capital runs Bitcoin in Ethereum.
The cryptography market fell lower on Tuesday, July 29, Bitcoin (BTC) oscillating in a tight band between $ 118,700 and $ 119,000, which sedes about half a woman hundred because he failed to pass beyond the $ 120,000 mark. BTC is currently close to $ 117,625, recording a loss of 1% on the weekly time.
Ethereum (ETH) has slipped approximately 1% today, set up nearly $ 3,800, although it has maintained above this brand in the past few days in the middle of solid FNB entries and institutional interests in progress
XRP (XRP), the third largest cryptocurrency by market capitalization, is down approximately 2% during the day and is negotiated to $ 3.10, while its weekly losses are even larger by 11%. Solana (soil) has lost the most among the cryptographic assets with large capitalization today, slipping 4.2% and is negotiated at around $ 180.
The total market capitalization of cryptocurrencies amounts to 3.92 billions of dollars, down 5% in the last 24 hours, while the volume of negotiation between the scholarships reached $ 153 billion in the same period.
About 431 million dollars in cryptographic positions have been liquidated in the last 24 hours, Ethereum representing nearly $ 102 million, followed by a mixture of other altcoins at $ 79 million, according to Coinglass data.
ETF inputs are slow
In the space of the Stock Exchange (ETF) fund, the entries of purely in the funds negotiated on the stock market of Ethereum have dropped sharply, although still displayed in positive net entries. On Monday, July 28, the ETFE ETHEREUM ETF attracted only $ 65.14 million, the lowest daily figure from the early stages of the July Rally, when the net entries saw a sequence of several weeks with daily entries in the hundreds of millions. On July 16, net entries in ETH ETH exceeded $ 720 million, the highest daily intrigue to date, according to Sosovalue data.
In the meantime, yesterday, the FNB Bitcoin attracted more than $ 157 million in net entries, marking the third consecutive day of net entries in the products, which have underperformed the ETH ETF in the last two weeks.
Despite the slowdown in ETH ETH momentum yesterday, Glassnode analysts noted in an X post today that the domination of Ethereum’s perpetual term interest has climbed almost 40%, which has been the highest level since April 2023, noted the company.
According to analysts, only 5% of the days experienced higher reading, according to analysts, adding that the figure marks a “clear change in speculative orientation, with the rotating capital of BTC to ETH at the margin”.
Glassnode also noted that the domination of the volume of ETH perpetuates is greater than the BTC Perps’ for the first time since 2022, again marking the changing interest in bitcoin. “This change confirms a significant rotation of speculative interest in the #altcoin sector,” said Glassnode.
The macro image looked a little brighter today, with the confidence of American consumers with 97.2, Bloomberg reported, citing data from the Conference Board. The number is just above the media estimate of a Bloomberg survey among economists. The expectations for the next six months have reached 74.4 – the highest since February – although the views of the current conditions have slipped.
Inflation remains in the minds of consumers, and although some have been optimistic about the impact of the so-called a big bill that President Donald Trump reported earlier this month, most of them did not focus on this, noted that Stephanie Guichard, senior economist on the board of directors.
