Nansen Reports Suggest Investor Capitulation; Uncertainty Lingers Until US Presidential Election
CryptoNewsTerminal Staff10 Sep, 2024
Nansen Reports Suggest Investor Capitulation; Uncertainty Lingers Until US Presidential Election
Nansen, a cryptocurrency data analytics firm, has reported notable trends in the market, indicating potential investor capitulation and ongoing uncertainty. Over a two-week period from August 26th to September 7th, Bitcoin (BTC) and Ethereum (ETH) spot exchange-traded funds (ETFs) witnessed significant net outflows of $983 million and $133 million, respectively. Simultaneously, stablecoin supply decreased by $450 million. These observations may suggest a capitulation scenario among investors. The report also anticipates that uncertainty surrounding risky assets, including cryptocurrencies, will persist until the U.S. presidential election in November. However, today's presidential TV debate between former President Donald Trump and Vice President Kamala Harris could lead to a slight rebound in cryptocurrency prices.
