Bitcoin Drops 1% Amid Market Slump & ETF Inflows Surge

The global cryptocurrency market saw a slump on Saturday, with Bitcoin (BTC) dropping its price by 1% over the past 24 hours. The top altcoins shifted in red areas, including Ethereum (ETH), which decreased 3%, and Solana (SOL), which went down 1%. XRP (XRP) coin was set in green territory and added a price of 3% in the previous days. The world crypto market faces downfalls, a 1.12% decrease over the past day, and the market reached $3.13 trillion.

The Fear and Greed index stood at 35, indicating a fear sentiment. Flare (FLR) coin became the top gainer coin in the list, increasing its price by 7.12% without its market volatility. However, Onyxcoin (XCN) became the second gainer coin in the list, increasing its price by 5% over the last 24 hours, according to coinmarketcap. In this article, we have deeply discussed top altcoin prices.

Bitcoin price & Net Inflow

A major issue causing Bitcoin’s price drop is Donald Trump’s tariffs on Canada and Mexico, which have impacted market sentiment and investor confidence. In this case, the price of Bitcoin dropped 1% and is trading at $96,124.41. The leading coin market volume is up 9.00%, which reflects confidence in market momentum. The market cap stood at $1.9 trillion. The 24-hour low and high were $96.23k and $100k. Meanwhile, the BTC price indicates a green sentiment in the hourly chart.

As per Sosovalue, the U.S. Spot Bitcoin Exchange Traded Fund saw a significant inflow on Friday. Investors added assets of $171.3 million. Ark ARKB led this surge with a $59 million inflow, while Fidelity FBTC added a $52.4 million inflow. However, Blackrock IBIT (ishares), the largest ETF by net asset, booked a $21.9 million inflow. Bitwise (BITB) and VanEck (HODL) also saw an inflow of $10.5 million and $21.8 million, respectively.

In other news, the National Bank of Poland (NBP) recently rejected Bitcoin as a national reserve due to security and stability concerns. The firm added gold, U.S. dollars, and euros as national reserves to maintain financial stability.

Bitcoin saw liquidations worth $73.02 million in the past 24 hours, according to Coinglass data.

Ethereum Price & net Inflow

The second-largest crypto coin Ethereum is struggling to recover its price. At the press time, the ETH was trading at $2,609.82, marking a 4% low in the 24 hours. The Volume market indicates green sentiment surged 3.33%, signaling market recovery. The 24-hour low and high were $2792 and $2609, respectively. The ETH market stood at $314.58 billion, down 4% the previous day.

Recently, the U.S. SEC postponed its decision on BlackRock’s proposal for Ethereum ETF options trading. In the last 24 hours, ETH saw liquidations totaling $64.83 million.