For the first time in over a month, U.S. spot Bitcoin ETFs experienced more money flowing out than in, with total outflows of $902.5M last week.
That ended a solid four-week winning streak. The majority of the redemptions happened on a single day, with major players like Fidelity’s FBTC and BlackRock’s IBIT taking the biggest hits.
So what happened? Ultimately, it comes down to a common financial move that occurs at the end of every quarter. That isn’t anything to worry about, and it could see some of the best crypto to buy now, like Bitcoin Hyper ($HYPER), benefit.
Why the Outflows Are Nothing to Worry About
The primary reason for the sudden dip is a phenomenon known as quarter-end portfolio rebalancing. It’s essentially a review of an investment portfolio. When an asset, such as Bitcoin, experiences a significant surge in value, it can begin to occupy a larger portion of an investor’s portfolio than initially intended.
To keep investments balanced and manage risk, they’ll sell off some of those winning assets and reinvest the money elsewhere. This is a regular, healthy part of portfolio management.
Even with the recent sell-off, experts aren’t worried. According to Shawn Young from MEXC Research, the market is simply ‘consolidating,’ not showing signs of weakness, he explained to Decrypt.
Bitcoin’s price has held up well, showing its resilience. With history suggesting that Bitcoin often has a strong fourth quarter, the general mood remains upbeat. Young believes we’ll see more ‘trend-setting moves’ and renewed momentum in the coming months, offering an excellent opportunity for investors to build on their current positions.
Bitcoin Hyper ($HYPER): Bitcoin’s Supercharge, Your Portfolio’s Gain
As the market expects a strong fourth quarter for $BTC based on its history, it hasn’t even factored in the impact that Bitcoin Hyper ($HYPER) will have. It’s a Layer 2 solution, solving the problems of Bitcoin’s past. Let’s face it, we all know what they are: slow speed and scalability.
By building on the existing Bitcoin blockchain to increase speed and smart contract capabilities, dApps become possible, making Bitcoin a platform for innovation.
Layer 2 solutions operate by handling transactions off the main chain, significantly boosting speed and lowering costs.
This is a game-changer for developers. By using Layer 2 with the Solana Virtual Machine (SVM) technology, it can use $BTC’s security and value to build a wide range of dApps, including DeFi protocols, NFT marketplaces, and even games.
Your Bitcoin is ‘wrapped’ into a usable token on the Layer 2 network, where it can be used for high-speed transactions and complex smart contracts. This enables developers to tap into Bitcoin’s vast user base and liquidity. It’s a true evolution, transforming the ‘old dog’ of crypto into a versatile and powerful platform for the future.
Snorter Token ($SNORT): Snipe the Best, Boost Your ‘Folio
As the market shifts and investors look to diversify, a perfect companion is Snorter Token ($SNORT). $SNORT powers the Snorter Bot, a Telegram trading bot, designed to help you compete with the big boys and bots so you won’t miss out on the hottest new presales to add to your portfolio.
It accomplishes this with numerous features, including automated sniping, and also prioritizes security with honeypot detection and rugpull protection. This means the bot scans new tokens for malicious code, providing a crucial layer of safety in a high-risk market.
But that’s not all $SNORT does. It provides you with the ultimate trading edge through a copy trading feature that allows you to mirror the moves of top-performing wallets. Meaning you can trade like a pro without being one.
Holding $SNORT also unlocks unlimited daily transactions and slashes your trading fees to 0.85%, giving you a competitive edge that adds up fast.
Don’t get left behind, get $SNORT and get ahead of the game. Hurry, as the presale ends in October, so you don’t have long to get in on the action, and don’t miss the 114% staking rewards as well.
Buy your $SNORT now for $0.1063.
Just a Chill Guy ($CHILL): Chill Out, Relax. Your Investments Will Be Good
In a crypto world of high-stress trading and fear, there’s a new kind of energy emerging: laid-back, unbothered, and completely unfazed. Meet Just a Chill Guy ($CHILL), the ultimate meme coin that’s here to remind everyone to relax and enjoy the ride.
Born from the viral ‘Chill Guy’ meme that took over TikTok with hundreds of millions of views, $CHILL isn’t just another coin; it’s a movement.
It captures that perfect, carefree vibe of a character who stays cool no matter what’s happening around him. Built on the ultra-fast Solana blockchain, $CHILL is a testament to the strength of community and a shared, relaxed attitude.
Just a Chill Guy is for everyone tired of constant chaos and looking to find their people in a space all about good vibes and fun.
So, put your feet up, flash a laid-back grin, and join the coolest community in crypto. Because while others worry about every dip, we’re just a chill guy living our best life.
Get your $CHILL now from reputable exchanges for around $0.03733.
Remember, this isn’t financial advice, and always do your own research.
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Reporter at Coindoo
Source: https://coindoo.com/best-crypto-to-buy-as-bitcoin-etfs-remain-bullish/