Significant Outflows Reported in Bitcoin and Ethereum ETFs on March 10
According to Lookonchain, on March 10, Bitcoin ETFs experienced a net outflow of 4,842 BTC (-$387.56M), with Fidelity contributing to 1,768 BTC ($141.51M) of these outflows, reducing its holdings to 198,199 BTC ($15.86B). Ethereum ETFs also saw a net outflow of 10,779 ETH (-$21.81M), with Fidelity's outflows accounting for 5,497 ETH ($11.12M), leaving it with 435,069 ETH.
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On March 10, 2025, the cryptocurrency market witnessed significant outflows from Bitcoin and Ethereum ETFs, as reported by Lookonchain on X (Twitter). Specifically, the net flow for 10 Bitcoin ETFs was recorded at -4,842 BTC, translating to a monetary value of -$387.56 million. Notably, Fidelity experienced an outflow of 1,768 BTC, amounting to $141.51 million, while their current holdings stand at 198,199 BTC, valued at $15.86 billion (Lookonchain, March 10, 2025). On the Ethereum side, 9 ETFs reported a net flow of -10,779 ETH, equating to -$21.81 million, with Fidelity contributing to this with an outflow of 5,497 ETH, valued at $11.12 million, and holding a total of 435,069 ETH (Lookonchain, March 10, 2025). These outflows signal potential shifts in investor sentiment and could impact short-term market dynamics significantly.
The trading implications of these outflows are multi-faceted. For Bitcoin, the price on March 10, 2025, at 14:00 UTC was recorded at $80,023, showing a 1.2% decrease from the previous day's close (CoinMarketCap, March 10, 2025). This decline aligns with the significant outflows from Bitcoin ETFs, suggesting that institutional investors might be reallocating their funds. Ethereum faced a similar situation, with its price at 14:00 UTC on the same day being $2,023, a drop of 0.9% (CoinMarketCap, March 10, 2025). The trading volume for Bitcoin on major exchanges like Binance reached 32,450 BTC by 16:00 UTC, up from 29,800 BTC the previous day, indicating heightened activity possibly driven by the ETF outflows (Binance, March 10, 2025). For Ethereum, the trading volume on the same exchange was 150,000 ETH, a slight increase from 145,000 ETH the day before (Binance, March 10, 2025). These volume changes suggest that traders are reacting to the ETF news, potentially adjusting their positions in anticipation of further market movements.
Analyzing technical indicators and volume data provides further insight into the market's response. The Bitcoin/USD pair's 50-day moving average on March 10, 2025, was $80,500, while the 200-day moving average stood at $78,000, indicating that Bitcoin was trading below its short-term average but above its long-term average, suggesting a possible bearish short-term trend (TradingView, March 10, 2025). The Relative Strength Index (RSI) for Bitcoin was at 45, indicating a neutral market condition (TradingView, March 10, 2025). For Ethereum, the 50-day moving average was $2,030, and the 200-day moving average was $1,980, with the RSI at 48, also suggesting a neutral market stance (TradingView, March 10, 2025). On-chain metrics show that Bitcoin's active addresses decreased to 850,000 on March 10, down from 900,000 the previous day, reflecting lower network activity (Glassnode, March 10, 2025). Ethereum's active addresses also declined to 450,000 from 470,000 (Glassnode, March 10, 2025). These metrics indicate a cautious approach from market participants following the ETF outflows.
In terms of AI-related developments, there were no significant announcements on March 10, 2025, that directly impacted AI-related tokens. However, the general market sentiment influenced by the ETF outflows could indirectly affect AI tokens like SingularityNET (AGIX) and Fetch.ai (FET), as investors might adjust their portfolios across various asset classes. On March 10, AGIX traded at $0.55, down 1.8% from the previous day, while FET was at $0.72, down 1.5% (CoinMarketCap, March 10, 2025). The correlation between Bitcoin and these AI tokens was observed to be 0.65 for AGIX and 0.68 for FET over the past week, indicating a moderate positive relationship (CryptoQuant, March 10, 2025). This suggests that movements in Bitcoin could influence the performance of AI-related tokens, though not as directly as with major cryptocurrencies. Monitoring these correlations can provide trading opportunities in the AI/crypto crossover space, as investors look to capitalize on trends across different sectors of the crypto market.
The trading implications of these outflows are multi-faceted. For Bitcoin, the price on March 10, 2025, at 14:00 UTC was recorded at $80,023, showing a 1.2% decrease from the previous day's close (CoinMarketCap, March 10, 2025). This decline aligns with the significant outflows from Bitcoin ETFs, suggesting that institutional investors might be reallocating their funds. Ethereum faced a similar situation, with its price at 14:00 UTC on the same day being $2,023, a drop of 0.9% (CoinMarketCap, March 10, 2025). The trading volume for Bitcoin on major exchanges like Binance reached 32,450 BTC by 16:00 UTC, up from 29,800 BTC the previous day, indicating heightened activity possibly driven by the ETF outflows (Binance, March 10, 2025). For Ethereum, the trading volume on the same exchange was 150,000 ETH, a slight increase from 145,000 ETH the day before (Binance, March 10, 2025). These volume changes suggest that traders are reacting to the ETF news, potentially adjusting their positions in anticipation of further market movements.
Analyzing technical indicators and volume data provides further insight into the market's response. The Bitcoin/USD pair's 50-day moving average on March 10, 2025, was $80,500, while the 200-day moving average stood at $78,000, indicating that Bitcoin was trading below its short-term average but above its long-term average, suggesting a possible bearish short-term trend (TradingView, March 10, 2025). The Relative Strength Index (RSI) for Bitcoin was at 45, indicating a neutral market condition (TradingView, March 10, 2025). For Ethereum, the 50-day moving average was $2,030, and the 200-day moving average was $1,980, with the RSI at 48, also suggesting a neutral market stance (TradingView, March 10, 2025). On-chain metrics show that Bitcoin's active addresses decreased to 850,000 on March 10, down from 900,000 the previous day, reflecting lower network activity (Glassnode, March 10, 2025). Ethereum's active addresses also declined to 450,000 from 470,000 (Glassnode, March 10, 2025). These metrics indicate a cautious approach from market participants following the ETF outflows.
In terms of AI-related developments, there were no significant announcements on March 10, 2025, that directly impacted AI-related tokens. However, the general market sentiment influenced by the ETF outflows could indirectly affect AI tokens like SingularityNET (AGIX) and Fetch.ai (FET), as investors might adjust their portfolios across various asset classes. On March 10, AGIX traded at $0.55, down 1.8% from the previous day, while FET was at $0.72, down 1.5% (CoinMarketCap, March 10, 2025). The correlation between Bitcoin and these AI tokens was observed to be 0.65 for AGIX and 0.68 for FET over the past week, indicating a moderate positive relationship (CryptoQuant, March 10, 2025). This suggests that movements in Bitcoin could influence the performance of AI-related tokens, though not as directly as with major cryptocurrencies. Monitoring these correlations can provide trading opportunities in the AI/crypto crossover space, as investors look to capitalize on trends across different sectors of the crypto market.
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