Crypto Market Update: Decline Amid Mixed ETF Flows and Sentiment
The total crypto market capitalization declined by 2.4% in the last 24 hours to $3.06 trillion, with a 24-hour trading volume of $109.3 billion. Bitcoin traded around $87,780, down 2.4%, while Ethereum was around $2,968, down 2.6%. Bitcoin remains below $90,000 with potential downside targets toward $84,000–$83,000; a recovery would require reclaiming $90,000. The crypto market sentiment remains fearful, as reflected by the Crypto Fear & Greed Index at 29.
In the US spot ETF space, Bitcoin ETFs posted $142.19 million in net outflows on the day. Despite cumulative inflows totaling $57.26 billion, assets stand at $114.99 billion, representing about 6.5% of Bitcoin’s market cap. Outflows were led by Grayscale GBTC, Grayscale BTC fund, and ARK/21Shares ARKB and VanEck HODL. On the other hand, US spot Ether ETFs saw $84.59 million in net inflows, with cumulative inflows of $12.53 billion and assets at $18.20 billion; inflows were driven by Grayscale’s ETH ETF and ETH Trust. BlackRock named its spot Bitcoin ETF among its top three investment themes for 2025.
Market dynamics since the October 10 crash, which wiped roughly $1.3 trillion in crypto value, include large-holder selling and ETF outflows contributing to a reset in market regime. Ethena’s USDe stablecoin experienced $8.3 billion in net outflows, signaling erosion of confidence in synthetic collateral.
Despite the broader market decline, smaller-cap tokens outperformed notably, with RaveDAO up 37%, Impossible Cloud Network up 32.9%, and ECOMI up 31%.
