Bitcoin Outflows Widen as Global Markets Go Quiet
Global cryptocurrency markets saw a quiet stretch heading into the weekend, but beneath the surface, some interesting trends emerged. According to CoinMarketCap data, the global market cap rose by 0.65% on August 14, reaching $2.18 trillion.
Liquidations told a different story, with $111.35 million in liquidations over the past 24 hours, representing a sharp 172.61% increase from the previous day. Bitcoin hovered around $63,000, while Ethereum pushed towards $1,900.
Despite this mixed backdrop, the crypto exchange-traded fund (ETF) market saw some notable developments. Bitcoin funds experienced renewed selling pressure, with a net outflow of $57.63 million, while Ethereum and XRP funds remained relatively flat, with no net flow recorded on August 14.