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Cryptocurrency markets face volatility as Bitcoin and ETF outflows surge
The cryptocurrency market is experiencing significant volatility, characterized by a sharp decline in major assets and massive liquidations. Bitcoin has recently fallen below the $82,000 mark, while Ethereum has struggled to maintain levels above $2,425. This downward movement triggered widespread liquidations in the derivatives market, with approximately $800 million in positions wiped out within a 24-hour period, the majority of which were long positions.
Institutional interest via exchange-traded funds (ETFs) has also cooled. US crypto ETFs recorded combined net outflows of $1.29 billion between October 5 and October 9. Specifically, US spot Bitcoin ETFs saw a weekly net outflow of $681.1 million, and Ethereum ETFs recorded $542.2 million in withdrawals during the same timeframe.
Other altcoins have faced similar pressure, with Solana and XRP seeing notable declines. XRP's open interest on Binance has dropped significantly, falling from previous highs of over $1.5 billion to approximately $415 million. Market analysts attribute the broader downturn to macroeconomic factors, including rising US Treasury yields, a strengthening US dollar, and investor caution ahead of upcoming US inflation data.
Entities
Binance · Bitcoin · BlackRock · Coinglass · Ethereum · Farside Investors · Fidelity · FinCEN · United States · XRP
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] FinCEN withdrew two proposed rules regarding self-custody wallets and foreign cryptocurrency mixing.
- [● 4 SOURCES] US spot Bitcoin ETFs recorded $484.9 million in net outflows on October 7 and $244.1 million on October 8. www.merca2.es · news.bitcoin.com · crypto.news
- [● 2 SOURCES] Total cryptocurrency liquidations reached approximately $1.09 billion in a 24-hour period ending Friday. www.techjuice.pk · www.globalcryptopress.com
- [○ 1 SOURCE] Bitcoin holders realized $1.03 billion in profits in a single day. bitcoin-kurier.de
- [● 3 SOURCES] US spot Bitcoin ETFs recorded a combined net inflow of $21.1 million on October 9. crypto.news · mycryptoparadise.com
- [● 2 SOURCES] Bitcoin ETFs saw net outflows of $678.9 million during the week of October 5–9. kriptotarca.hu · crypto.news
- [● 3 SOURCES] Ethereum ETFs recorded $542.2 million in withdrawals during the same period. kriptotarca.hu · crypto.news · zombit.info
- [● 2 SOURCES] US crypto ETFs recorded combined net outflows of $1.29 billion between October 5 and October 9. kriptotarca.hu · crypto.news
- [● 2 SOURCES] Solana, Zcash, and Hyperliquid ETFs also recorded negative weekly net flows. kriptotarca.hu · crypto.news
- [○ 1 SOURCE] XRP Open Interest on Binance decreased from approximately 1.5 billion USD to around 415 million USD. bitcoinbasis.de
- [○ 1 SOURCE] US authorities seized 1,230 Bitcoin as part of the Empire Market investigation. www.coinkurier.de
- [○ 1 SOURCE] US spot Bitcoin ETFs experienced a net outflow of $681.1 million last week. zombit.info