The global cryptocurrency market showed bearish momentum, with Bitcoin (BTC) price declining by 1% over the past day. Major altcoins, including Ethereum (ETH), also lost market share, reflecting a 1.5% downturn. Solana’s (SOL) price also decreased significantly, with 3.19%. XRP saw green sentiment in today’s market. ai16z (AI16Z) has become the top loser coin in the Saturday market, marking a 29% down over the past 24 hours.
Virtuals Protocol (VIRTUA) became the second loser coin in the market, losing 8.20% in a single day. According to coinmarketcap, the world digital currency market cap failed 0.62% over the last day, and its market volume dipped 14.58%, which shows a decrease in market momentum. The Fear and Greed index stood at 48, indicating a natural sentiment.
U.S. Bitcoin ETF Sees Outflow On Yesterday
According to farside data, the U.S. Spot Bitcoin Exchange Traded Fund saw a $149.4 million outflow on Friday. BlackRock IBIT (ishares), the largest ETF by net assets, led this outflow with $183.7 million. Fidelity FBTC and Ark ARKB experienced inflows of approximately $16.6 million and $5.7 million, respectively.
The outflows indicate that investor interest is decreasing daily. As a result, Bitcoin’s price declined 3.45% in seven days. At the time of writing, BTC was trading at $94,519.32, marking a 0.50% dip in the previous day. BTC’s market cap shut down at $1.87 trillion, and market volume declined 15.40%, reflecting a volatile market.
In other news, the Russian Ministry of Finance plans to sell Bitcoin seized in the Infraud hacking case. The first batch, worth about $10 million, will be sold. Marat Tambiev, a corrupt Russian official, had earlier received 1,032.1 BTC from the Infraud hacker group.
U.S Spot Ether ETF Saw outflow
The U.S. Spot Ethereum Exchange Traded Fund saw a significant outflow yesterday. According to Sosovalue, the nine U.S. Spot Ether ETFs experienced a $68.48 million outflow. Fidelity FETH withdrew $65.43 million, and Bitwise ETHW also saw a $3.0 million outflow. The other ETFs had zero flow.
Ethereum (ETH), the second largest cryptocurrency by market capitalization, has experienced a downturn in the last seven days, reflecting a 9.70% decline in price in the previous seven days. At the time of writing, ETH had dipped 1.04% over the past 24 hours, and trading was $3,274.74. ETH market volume was down 19.77% and stood at $22.6 billion.
In a post on X (formerly known as Twitter), Alice James, a crypto freak and trader, predicts that if the Ethereum price breaks $4000, it will have a chance to touch $7100. Experts and investors expect ETH prices to reach $5100 to $7100 in 2025.
Related Reading | Bitcoin Nears $100K As Global Crypto Market Shows Positive Momentum
Comments (No)