Why Bitcoin, Ethereum, and Dogecoin Are Losing Ground Today

Motley Fool03-20

Bitcoin has led the crypto sector lower today, dropping nearly 4% on news that the largest spot Bitcoin ETF saw significant outflows on Monday. This repositioning has investors looking at ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Bitcoin, Ethereum, and Dogecoin Are Losing Ground Today\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-20 04:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2024/03/19/why-bitcoin-ethereum-and-dogecoin-are-losing-groun/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bitcoin has led the crypto sector lower today, dropping nearly 4% on news that the largest spot Bitcoin ETF saw significant outflows on Monday.\n\n\n\n\n\n\n\nThis repositioning has investors looking at ...</p>\n\n<a href=\"https://www.fool.com/investing/2024/03/19/why-bitcoin-ethereum-and-dogecoin-are-losing-groun/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EZBC","symbol_name":"Franklin Bitcoin ETF","start_time":0,"source_url":"https://www.fool.com/investing/2024/03/19/why-bitcoin-ethereum-and-dogecoin-are-losing-groun/","article_id":"2420832517","we_media_id":null,"thumbnails":["https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F769482%2Fbitcoin-down.jpg&op=resize&w=165&h=104"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2420832517","pubTimestamp":1710881160,"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"These three top tokens are seeing selling pressure build, as capital flows affect investor sentiment.","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"EZBC":"Franklin Bitcoin ETF","BRRR":"Valkyrie Bitcoin Fund","IBIT":"iShares Bitcoin Trust","HODL":"VanEck Bitcoin Trust ETF","BK4023":"应用软件","GBTC":"Grayscale Bitcoin Trust","DEFI":"Hashdex Bitcoin ETF","BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念","FBTC":"Fidelity Wise Origin Bitcoin Fund","BK4595":"比特币概念","SAI":"SAI.TECH Global Corporation","BITB":"Bitwise Bitcoin ETF","ARKB":"ARK 21Shares Bitcoin ETF","BK4550":"红杉资本持仓","BTCO":"Invesco Galaxy Bitcoin ETF","BITO":"ProShares Bitcoin Strategy ETF","BTCW":"WisdomTree Bitcoin Fund","FDN":"First Trust Dow Jones Internet I"},"translate_title":"为什么比特币、以太坊和Dogecoin今天正在失去阵地","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BTCO":1,"SAI":1,"IBIT":1,"HODL":1,"GBTC":1,"FBTC":1,"EZBC":1,"DEFI":1,"BTCW":1,"ARKB":1,"BRRR":1,"BITO":1,"BITB":1,"FDN":0.9},"content_text":"Bitcoin has led the crypto sector lower today, dropping nearly 4% on news that the largest spot Bitcoin ETF saw significant outflows on Monday.\n\n\n\n\n\n\n\nThis repositioning has investors looking at Ethereum's upcoming potential spot ETFs with a more skeptical eye. \n\n\n\n\n\n\n\nDogecoin's highly speculative nature as the top meme token provides risks of its own, and other newer tokens appear to be drawing more interest.\n\nToday's price action in the cryptocurrency world has been choppy, with many of the top tokens that investors watch closely seeing big declines over the past day. As of 3:30 p.m. ET on Tuesday, Bitcoin (BTC -5.28%), Ethereum (ETH -6.51%) and Dogecoin (DOGE -7.69%) had declined 3.9%, 4.9%, and 5.3%, respectively, over the past 24 hours.These moves appear to be the result of a shifting narrative in the crypto world. With more investors now focused on the flow of funds into this asset class, more recognition is being placed on the supply and demand of capital flows into this sector.Accordingly, the capital inflows into spot Bitcoin ETFs, such as the Grayscale Bitcoin ETF (GBTC -3.64%), have become a much more pertinent focal point for Bitcoin and the entire sector in general.Reports today that this particular spot Bitcoin ETF (and others) saw big capital outflows appear to be driving the majority of the move in these three top cryptos. The Grayscale ETF led the way lower, posting a $643 million outflow on Monday, with more expected to be reported today.Let's dive into this particular catalyst, as well as some other concerns that investors are pricing into Ethereum and Dogecoin right now.Why the sentiment shift?Capital flows into spot ETFs aren't the only story, but they're the major one in the crypto space right now. With various spot Bitcoin ETFs such as Grayscale's seeing record inflows in such a short time, anticipation around a budding supply/demand dislocation in the Bitcoin market forced other speculative retail capital into the sector. For higher-risk assets such as Dogecoin, this led to what can only be described as a hype-driven rally.There were also some recent comments from Elon Musk about potentially integrating Dogecoin further into the Tesla purchase ecosystem. We'll have to see whether that plays out or not, but it's clear that Dogecoin's primary purpose is to be a speculative trading vehicle for those willing to take abnormally large risks. In this market, that's worked out well for bulls.For Ethereum, anticipation around pending deadlines for the Securities and Exchange Commission to review spot ETF applications from the likes of Grayscale and others continues to be a driving factor for this token.That said, if capital outflows from spot Bitcoin ETFs continue, this catalyst could be moot. Thus, investors are undoubtedly going to get ahead of the catalyst by pricing-in expectations, and we'll likely see Ethereum trade somewhat in line with Bitcoin until a decision is handed down.Where to go from hereInvestors who decided to jump on the crypto bandwagon before this flood of speculative capital surged into the sector have certainly done well for themselves. And while we have seen some recent capital outflows from the likes of the Grayscale Bitcoin ETF and others, it's also true that these ETFs have assets under management that many thought they wouldn't at this point in the cycle. So, it's really a matter of perception right now with respect to how the Bitcoin market is finding its balance.For Ethereum and Dogecoin, I expect to see similar correlation with Bitcoin for some time, until we see the impact of the upcoming Bitcoin halving and potential approvals of spot Ethereum ETFs. Until then, buckle your seat belts -- it's likely going to be a thrilling ride.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2420832517"}