US investor demand for Bitcoin and Ethereum has seen a notable decline as of October 30th, 2023. Prices peaked in September, but the enthusiasm has waned since, pushing investors towards profit-taking rather than accumulation.
Weakness in ETF inflows and spot premiums highlights a shift in sentiment. Data indicates the US Bitcoin spot ETF has recorded a net sell trend with an outflow of 281 BTC, while Ethereum ETF inflows have stagnated.
The futures market reflects similar trends, with the annualized basis for both BTC and ETH futures declining. The cooling market sentiment indicates participants are awaiting new catalysts to spark renewed investment interest.
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