Market Caution Presaged by ETF Outflows and Geopolitical Uncertainties

In a significant geopolitical development, former U.S. President Donald Trump has called for U.S.-Ukraine-Russia trilateral talks, a move that was first reported in mid-August 2022 during his meetings with Presidents Putin and Zelenskyy. This potential diplomatic initiative opens a risk-on window, but the volatile nature of the situation adds a layer of uncertainty.

Meanwhile, in the world of cryptocurrency, Bitcoin ETFs have seen a significant shift. A recent departure of $122 million has added to the total of 225,000 Bitcoins added since March. This trend has kept the whale accumulation persistent, with 20,061 Bitcoins added by wallets holding at least 10,000 Bitcoins since August 13. Currently, Bitcoin ETFs hold 6.38% of Bitcoin's supply.

Interestingly, Ethereum has been on a track to surpass Bitcoin by September, if the current inflow pace is sustained. However, the recent exit of Ethereum through ETFs, amounting to $197 million, marks the second-largest in its history. The Ethereum exit queue reached a record with 910,000 Ethereum (approximately $3.9 billion) pending withdrawal. Additionally, 268,000 Ethereum is waiting to be staked. Ethereum ETFs currently hold 5.08% of Ethereum's supply.

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As we navigate through these intricate developments in geopolitics and finance, it's clear that the market dynamics continue to evolve at a rapid pace. Stay tuned for more updates as we strive to bring you the latest news and insights.