“US bitcoin ETFs record $240 million in inflows as market sentiment faces pressure from the ongoing government shutdown.”, — write: www.coindesk.com
No outflows were reported from any ETF provider, ending a six-day streak of consecutive outflows. The longest stretch of outflows since the ETFs launched remains eight consecutive trading days, a pattern that has historically coincided with market or local bottoms for bitcoin.
Since the US government shutdown began on Oct. 1, ETF flows have mostly been negative, apart from the first week of October when bitcoin briefly rallied from $114,000 to $126,000. Persistent outflows have since aligned with bitcoin’s decline to $100,000. The asset is now down 11% since the shutdown, while the Nasdaq and gold have risen 2% and 4%, respectively.
As the shutdown continues, it is expected to further erode market confidence and increase the risk of reduced liquidity, likely curbing investors’ appetite for risk assets such as bitcoin. Notably, the 2018–2019 government shutdown coincided with a market bottom for bitcoin in that cycle.
According to prediction platform Polymarket, there is currently around a 50% chance that the government shutdown will extend beyond Nov. 16, a scenario that could continue to weigh on bitcoin and the broader crypto market.
Bitcoin’s current correction, which began on Oct. 6, has seen a 21% decline over 31 days. For comparison, the correction during the April tariff-driven selloff lasted 79 days and resulted in a 32% drop.
A deep dive into Zcash’s zero-knowledge architecture, shielded transaction growth, and its path to becoming encrypted Bitcoin at scale.
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- The Zashi wallet made shielded transfers the default, pushing privacy from optional to standard practice.
- Project Tachyonled by Sean Bowe, aims to boost throughput to thousands of private transactions per second.
- Zcash surpassed Monero in market share, becoming the largest privacy-focused cryptocurrency by capitalization.
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