Bitcoin and Ethereum both hit 3-month lows as crypto markets undergo a significant reset. A mix of negative sentiment, economic concerns, and broader macro uncertainty has weighed on investors, leading to sharp declines.
Bitcoin ETF outflows hit a record US$1B, driven by profit-taking, macro uncertainty, and portfolio shifts.
Over the past trading week, ETH gained more than 5%, despite a major hack on one of the world’s largest exchanges on Friday. The crypto industry responded with unity, as key players took action to manage the fallout.
Altcoins see mixed performance as XRP ETF gains traction and Solana drops 17%. Bitcoin ETFs face US$585M outflows, while Ethereum struggles. Bitcoin holds above US$96K. RBA cuts cash rate to 4.10% amid US economic concerns.
Regulation, political movements, and technology are driving crypto’s rise in mainstream finance.
As institutions double down on crypto, Bitcoin remains in a consolidation phase. XRP surged on ETF news and Grayscale filed for a Cardano ETF. Goldman Sachs invested billions in Bitcoin, and Abu Dhabi’s sovereign fund poured US$436M into BlackRock’s Bitcoin ETF.