Markets
What to Know:
- Ether, oh dear! It fell below $3,100 for the first time since Nov. 4-down 3.4% in the last 24 hours, as of 9:35 p.m. UTC on Nov. 16. Who’s counting the bruises?
- Timothy Peterson, our oh-so-wise investment guru, declared that ether ETFs saw withdrawals amounting to roughly 7% of cost-basis capital over the past five weeks. Sounds like a slow-motion car crash, doesn’t it?
Ether traded below $3,100 on Sunday-what a surprise, right? It was just another day in the digital asset downturn. At 9:36 p.m. UTC, the token was lingering near $3,066, down 3.4% over the past 24 hours. At around 4 p.m. UTC, it even dipped below the $3,100 level on Bitstamp, marking its first fall below that threshold since Nov. 4. Yes, it’s official: the sky is falling!
Now, brace yourselves for the wisdom of Timothy Peterson, investment manager and digital asset researcher at Cane Island Alternative Advisors. He tells us that spot ether ETFs saw net outflows in four out of the last five weeks-about 7% of the cost-basis capital invested. How charming. In contrast, bitcoin ETFs saw only a modest 4% withdrawal. Peterson insists that this tells us one very obvious thing: investors consider ether the “more risky” choice right now. I mean, who wouldn’t bet on the well-behaved, boring bitcoin, right?
Let’s talk about “cost-basis capital” because we all love some fancy terminology, don’t we? It’s basically the original money invested in an ETF, excluding any gains or losses that came later. The more withdrawals there are from this base capital, the more it indicates that long-term investors are losing their nerve. So, when redemptions rise, it’s like a big flashing neon sign saying, “These folks are packing up their bags, folks!”
But wait, there’s more! This little metric, focusing on the original investments, can give us a clearer view of sentiment than the usual inflows and outflows, which are just as volatile as your mood during a bad hair day. 📉
Now, all eyes are on whether ether’s ETF outflows will ease or continue. Will it keep plunging below $3,100, or will it pull itself together like the proverbial phoenix rising from the ashes? Traders are on the edge of their seats, waiting to see if the ether-biting sentiment gap between it and bitcoin will persist. Stay tuned! 🧐
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2025-11-17 01:33