TL;DR
- The cryptocurrency market has slipped again, with nine of the top ten coins trading in negative territory over the last 24 hours.
- Bitcoin fell to $108,762 and Ethereum to $3,882, while Solana and BNB led losses with drops of over 5%.
- U.S. spot ETFs for Bitcoin and Ethereum posted massive outflows, adding pressure to already fragile sentiment. Despite fear rising, long-term market fundamentals remain intact.
Global cryptocurrency markets are navigating fresh turbulence as prices continue to slide across major assets. According to the latest data, the total market cap now sits at $3.83 trillion, a 2.2% decline in just one day. Trading volume rose to $237.1 billion, yet the flow of money has not been enough to reverse the prevailing negative mood.
Bitcoin has dipped 2.52% to $108,762, while Ethereum lost 2.99% to trade at $3,882. Other leading altcoins show similar weakness: Solana is down 5.17% to $191.17, BNB slipped nearly 5% to $933.89, and Dogecoin fell 4.17% to $0.2221. Only TRON managed a modest gain of 0.67%, trading at $0.3334.
Bitcoin Faces Growing Selling Pressure
Recent on-chain data suggests Bitcoin could face additional downside as long-term holders continue to realize profits, a pattern often seen at cycle peaks. Analysts note that more than $3.4 million in realized gains were booked recently, signaling that investors are trimming positions after the summer rally. Outflows from U.S. spot Bitcoin ETFs totaled $258.46 million yesterday, with Fidelity’s FBTC leading withdrawals.
Ethereum also encountered sharp selling pressure, with $251.20 million flowing out of its spot ETFs in the U.S. Investors appear to be taking risk off the table after ETH failed to hold above the $4,000 level, retreating nearly 14% over the past week. Still, analysts emphasize that both BTC and ETH remain well above long-term trendlines, leaving room for bullish continuation once current volatility stabilizes.
Market Resilience And Long Term Outlook
Despite the latest pullback, several experts remain optimistic about digital assets in the broader economic context. While short-term traders are being forced out by volatility, institutional adoption continues to expand. BlackRock’s IBIT fund even recorded $79.7 million in inflows yesterday, highlighting that some investors are using dips to accumulate.
The Fear and Greed Index has dropped to 32, placing sentiment firmly in the “fear” zone, its lowest point since April. Such periods have historically marked accumulation phases for patient investors rather than the beginning of prolonged downturns.
