Christmas market hype fizzles out! Bitcoin and Ethereum ETFs lose momentum, analysts: next year's trend depends on post-holiday performance
Christmas and New Year holidays are approaching, and the cryptocurrency market seems to have already entered a "hibernation mode." US Bitcoin and Ethereum spot ETFs collectively lost value on Tuesday, mainly due to year-end asset rebalancing and liquidity tightening before the long holiday, with profit-taking selling pressure clearly increasing.
According to SoSoValue data, the US Bitcoin spot ETF experienced a net outflow of $188.6 million on Tuesday, marking the fourth consecutive day of withdrawals. Among them, BlackRock's IBIT suffered the heaviest outflow, with a net outflow of $157.3 million in a single day; Fidelity's FBTC and Grayscale's GBTC also could not escape.
On the other hand, Ethereum spot ETFs also recorded a net outflow of $95.5 million on Tuesday, compared to a net outflow of $84.6 million the previous day.