The global cryptocurrency market experienced a notable pullback today, with most major assets recording losses. Factors such as geopolitical tensions and profit-taking from earlier rallies have contributed to the recent volatility. However, institutional interest remains strong, particularly in Bitcoin ETFs, indicating a long-term bullish outlook.
Bitcoin Drops Amid Market Correction
The price of Bitcoin (BTC) fell by 2.34% over the past 24 hours, currently trading at $107,216, down from its weekly peak of over $111,500.
Bitcoin has struggled to maintain momentum after hitting a new all-time high earlier this week.
The decline comes in the wake of former U.S. President Donald Trump’s proposed 50% tariff on European imports, which rattled both traditional and digital markets. The sharp policy stance raised fears of trade instability, leading to broader investor caution.
Ethereum Holds Steady Around $2,550
While Bitcoin faced pressure, Ethereum (ETH) has remained relatively stable. The asset is currently priced at $2,558, up 0.5% over the past 24 hours.
Ethereum’s resilience is attributed to upcoming protocol upgrades and continued DeFi adoption.
However, trading volumes have dipped slightly as traders await further clarity on market direction.
Bitcoin ETFs See Record Weekly Inflows
One of the most bullish developments today came from institutional investors. According to the latest data:
Bitcoin ETFs recorded over $2.75 billion in inflows this week – nearly 4.5x higher than the previous week.
This massive capital injection highlights growing institutional confidence in Bitcoin’s long-term performance, even amid short-term volatility.
Whales Make Bold Moves
On-chain data also reveals that large holders (“whales”) have been actively accumulating during the dip. A $24 million Bitcoin purchase was tracked on-chain early this morning.
Such accumulation signals a vote of confidence in BTC’s future price direction.
Altcoins Post Mixed Results
Several altcoins showed varied price action:
- Cardano (ADA) is down 1.8%, trading at $0.76.
- Ripple (XRP) gained 0.4%, trading at $2.35.
- Sui (SUI) dropped 0.9% to $3.65, partly due to concerns following the Cetus hack.
Altcoin performance continues to diverge amid fluctuating market sentiment.
Outlook: Volatility with a Bullish Bias
While near-term volatility is expected to persist, analysts remain optimistic about the crypto market’s outlook due to:
Strong ETF demand, whale accumulation, and robust blockchain activity.
Traders are advised to monitor macroeconomic indicators and institutional flow trends for directional cues.
Stay tuned for tomorrow’s update as the crypto market continues to react to both global events and on-chain activity.