BitMEX Research has updated the flow data for day 4 of the Cointucky Derby. Fidelity has emerged as the front-runner, attracting a substantial inflow of +$359 million. Bitwise is also performing admirably with a commendable +$68.6 million in flow.
As the day progresses, market watchers eagerly anticipate data from IBIT and GBTC to complete the picture of the day’s trading activity. These data sets are essential to understanding the broader trends in the cryptocurrency market.
Despite the ongoing flow of information, it’s important to note that data from the US markets is still pending. This delay is because trading in the United States continues, and the full extent of the day’s flows and trends cannot be assessed until the close of trading.
Europe Witnesses Significant Outflows
In contrast to the positive developments in the US, BitMEX Research has observed a notable shift in Europe. European investors are increasingly moving away from high-fee Bitcoin Exchange-Traded Products (ETPs).
For the day, there has been a collective outflow of $30 million across the four most extensive European products. This suggests that investors are reevaluating their positions and reallocating their assets within the cryptocurrency space.
Considering the broader European market, the cumulative outflow is an impressive $106 million. This data highlights a significant shift in investor sentiment and the importance of fee structures when choosing cryptocurrency investment products.
Day 4 of the Cointucky Derby has seen contrasting trends, with Fidelity and Bitwise leading in US inflows while Europe experiences notable outflows. As the day unfolds and more data becomes available, market participants will closely monitor these developments for potential insights into the cryptocurrency market’s direction.
