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BTC and ETH Reverse Fortunes

Crypto declines with Ethereum leading the way.
BTC and ETH Reverse Fortunes
Jack Inabinet Jack Inabinet
Jan 27, 2024 • 1 min read
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Up and down. Crypto markets got off to a bloody start this week, with the total crypto market cap (TOTAL) declining 9%, but tokens have finished it off strong, paring back those weekly losses to just under 2%. How are different crypto sectors recovering?

While outflows from Grayscale’s Bitcoin Bitcoin Trust (GBTC) continue to mount, surpassing $4.7B this week with no clear end in sight, max pain may be in for Bitcoin holders – at least in relation to those of other tokens. Bitcoin dominance set a local bottom on January 14 and is up 1.3% on the week.

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Jack Inabinet

Written by Jack Inabinet

535 Articles • View all      

Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.

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