India, Aug. 5 -- Bitcoin is trading in the red whereas altcoins have rallied amidst mixed sentiment in the cryptocurrency market. Renewed rate cut hopes and Wall Street's tech rally supported crypto market sentiment. Massive outflows from ETF products in the U.S. however limited gains.
Bitcoin-based Spot ETF products in the U.S. recorded outflows of $324 million on Monday as compared with outflows of $812 million on Friday. iShares Bitcoin Trust ETF (IBIT) topped with outflows of $292 million.
Ethereum-based Spot ETF products witnessed outflows of $465 million on Monday versus outflows of $152 million on Friday. iShares Ethereum Trust ETF (ETHA) topped with outflows of $375 million.
Amidst Bitcoin's retreat, the original cryptocurrency's...