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Are the bears right, though, is a dip to $US20,000 or worse inevitable? The hawkish Fed and China’s economic wobbles are hardly helping matters much.For the latest crypto news, sign up here for free Stockhead daily newslettersThen there’s the news Ethereum co-founder Vitalik Buterin has sent $US1 million of his ETH to the exchange Coinbase, causing the odd tremor, plus data from CoinShares detailing hefty digital asset product outflows all of a sudden.On the latter point, CoinShares, a prominent European-based digital investment manager, sent Stockhead its latest Digital Asset Fund Flows Report this morning, and it’s takeaway is that disappointment from the SEC’s delays on BTC ETFs have impacted sentiment.Clarifying further, the following highlights from the CoinShares report, which tracks the previous week’s data, show that: Digital asset investment products saw outflows totalling $US55 million. Bitcoin saw outflows totalling $US42 million, reversing the inflows seen the prior week, while short-bitcoin saw outflows for almost the 17th consecutive week. Ethereum saw $US9 million outflows, while Polygon, Litecoin and Polkadot also saw outflows of $US0.9 million, $US0.6 million and $US0.5 million respectively.Vitalik sends ETH, cryptoverse panicsWell, the Vitalik Buterin-induced “panic” aspect is an overstatement, but it made for an eye-grabbing subhead, right?The crypto analyst and influencer known as “Wendy O” actually had the best non-panicky take on the alien-like Ethereum co-founding genius’s transaction of 600 ETH to the Coinbase exchange – something that might be construed as a bearish, “sell, sell, sell!” sign.MORE FROM STOCKHEAD: Aussie crypto rules ‘will create jobs’ | ASX stocks join fintech payments mega trend | Tech small caps profit from profitWendy O told Coindesk in a panel discussion on the subject that Buterin’s transaction “was literally just $1 million, it’s really not a lot of money, especially when you’re looking at crypto whale wallets … I don’t think it’s a big deal that he’s moved this amount … and maybe he wanted to bridge the funds over to Base.”‘Be wary of bottom vultures’ With all the bearish sentiment suddenly flooding the crypto social space again, the following take – from notable VC investor Chris Burniske – stood out to us …Major crypto assets Bitcoin, Ethereum and Solana have gone about as low as they’re going to this year, in the former ARK Invest exec’s opinion.He also noted this, in a separate post …With “FT” he’s referencing the buzzy Friend.Tech web3 social application built on Coinbase’s Ethereum layer-2 chain Base, citing it as potential bullish spark, or at least an example of a possible catalyst.Top 10 overview With the overall crypto market cap at $US1.09 trillion at 2.30pm Tuesday (AEST), down 0.6 per cent since the same time Monday, here’s the state of play among top 10 tokens – according to CoinGecko.Some potentially encouraging thoughts here from a couple of popular crypto traders on Bitcoin’s price action and ability to hang in there (for now) …Uppers and downersSome of the biggest 24-hour gainers and losers at 2.30pm Tuesday. Stats based on CoinGecko.com data. PUMPERS (11-100 market cap position) Optimism (OP), (market cap: $US1.1 billion) +4.3% Rollbit Coin (RLB), (market cap: $US532 million) +3.2% Hedera (HBAR), (market cap: $US2.05 billion) +1.7% THORChain (RUNE), (market cap: $US521 million) +1.5% Monero (XMR), (market cap: $US2.71 billion) +1.4%Visit Stockhead, where ASX small caps are big dealsSLUMPERS (11-100 market cap position) FLEX Coin (FLEX), (market cap: $US558 million) -5.1% Curve DAO (CRV), (market cap: $US406 million) -4.9% Shiba Inu (SHIB), (market cap: $US4.65 billion) -4.8% Avalanche (AVAX), (market cap: $US3.54 billion) -4.4% Cosmos Hub (ATOM), (market cap: $US2.18 billion) -4.3%Around the blocks Some pertinence and randomness that stuck with us on our morning moves through the Crypto Twitterverse.Finally, “better off embracing it”, eh, Pomp? Not so sure about this specific case … This content first appeared onstockhead.com.auSUBSCRIBEGet the latest Stockhead news delivered free to your inbox. Click here
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