"Bitcoin's lack of response to this news, juxtaposed against rallying Chinese indices, highlights that its current beta appears more tightly linked to Fed policy and U.S. markets, as evidenced by near two-year high correlations with US stocks, particularly following last week's FOMC meeting," Rick Maeda, a Singapore-based research analyst at Presto Research, wrote to CoinDesk in a note.
Ether ETFs recorded their highest outflows since July on Monday, with over $79 million exiting the funds. The figures are the highest since July 29, when ETH ETHs recorded a cumulative $98 million, and the fourth-highest since they first went live on July 23. The outflows were almost entirely concentrated in Grayscale's ETHE, which lost $80 million.
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