$ETH
The price of bitcoin may soon fall below 80,000 USD. This is all due to the fact that on Wednesday Donald Trump is set to announce the final tariff program he wants to impose on almost the whole world. It is possible that only then will 'the worst be behind us'.
Where are we now, though? A ten-day streak of deposits into U.S. BTC ETFs, the longest so far this year, ended on Friday after the Fidelity FBTC fund recorded outflows of 93.16 million USD. Other funds, on the other hand, recorded negligible activity.
One day of withdrawals does not negate the fact that over 1 billion USD was deposited into ETFs over the past 10 days. Analyst Min Jung from Presto Research pointed out that 'this suggests that although institutions are not aggressively risk-on, there is still demand in the market for exposure to bitcoins'.
However, this does not change the fact that BTC is experiencing its worst first quarter since 2018. The cryptocurrency's price has fallen by 11.67% over the past three months. The only worse period was in 2018, but then we had the beginning of a bear market and a loss of 49.7%.
What is happening with ETH?
How does ether compare to BTC? ETH ETFs recorded their first positive day in 17 days. The Grayscale ETHE fund registered net inflows of 4.68 million USD on Friday, while no other funds recorded any net inflows or outflows.
In the Ethereum field, we may soon see bigger movements. A decline cannot be ruled out, particularly on Wednesday, but a breakthrough period will be the end of April or the beginning of May, as we will be post-update of Pectra, which is set to strengthen Ethereum in many ways.
Changes include, among other things, increasing the staking limit for validators, improving the scalability of rollups, and enhancing the usability of wallets with ETH. This could lead to finally seeing the long-awaited increases I am patiently waiting for.