TechFlow news, according to a recent report by cryptocurrency research firm 10x Research, while the crypto market still holds profit potential, the traditional buy-and-hold strategy is no longer effective.
The report indicates that a top trading strategy recommended earlier this year has continued generating returns, with gains even accelerating recently—this occurring against the backdrop of Bitcoin losing momentum. Data shows that as of August 2024, Bitcoin ETF flows have now extended over eight months. August is expected to become the second-worst month on record, with an outflow of $320 million, second only to April’s $345 million. Despite strong inflows of $2.1 billion in May and $3.2 billion in July, these gains did not last.
10x Research believes ETF flows have failed to ignite bullish sentiment, and Bitcoin remains in wait for more significant macroeconomic catalysts. Meanwhile, other areas of the cryptocurrency market face potential outflows amounting to billions of dollars.
