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Crypto

Bitcoin beats S&P 500 on most trading days, but monthly performance lags

Bitcoin has again topped the S&P 500 on more than half of trading days, but it continues to lag in month-to-date performance. Data cited by CryptoSlate showed Bitcoin’s daily relative win rate versus the S&P 500 recovered from about 20 percent in June to above 50 percent recently. From Oct. 1 to Oct. 26, Bitcoin outperformed on 10 of 18 sessions but fell 4.25 percent while the S&P 500 rose 0.33 percent. Flows concentrated in BlackRock’s iShares Bitcoin Trust, while spot demand remained weak and downside hedging demand increased in options.

Crypto

Ethereum net outflows from exchanges jump to four-month high

Ethereum saw its largest net outflow from centralized exchanges in about 4 months, with roughly 169,770 ether leaving in a day, Santiment said. The move has raised expectations of a rebound as potential sell supply on exchanges may decline. Analysts cautioned the withdrawals alone do not confirm accumulation or a price bottom. Meanwhile, spot Ethereum ETFs continued to see net outflows, with cumulative net withdrawals topping $1 billion from Oct. 1 to 22, data showed.

Crypto

Ethereum down 13 percent in a month as ETF outflows continue

Ethereum has fallen about 13 percent over the past 30 days, underperforming bitcoin, and its weakness has also shown in the ETH/BTC ratio. Spot ether exchange-traded funds have seen continued outflows, including $110.6 million in net redemptions on Oct. 22, data showed. Outflows were led by BlackRock’s iShares Ethereum Trust, while Fidelity’s fund recorded a small inflow.