Bitcoin and Ethereum Prices Plummet Amid $536M ETF Outflows

The cryptocurrency market has experienced a significant downturn, with both Bitcoin and Ethereum prices plunging. Key factors include:

Over $536 million in outflows from Spot Bitcoin ETFs in one day, contributing to market panic.
Bitcoin dropped 13.3% in seven days, while Ethereum fell 17.8% over the month.
Large withdrawals from major funds like Ark & 21Shares, Fidelity, Grayscale, BlackRock, Bitwise, VanEck, and Valkyrie.
Persistent ETF outflows have continued for three consecutive days, indicating reduced investor confidence.

Experts predict further declines:

52% of Polymarket participants expect Bitcoin to fall below $100,000 by October's end.
Economist Peter Schiff warns of potential widespread financial distress in the crypto sector.
Technical analysts highlight bearish indicators for Ethereum, suggesting possible further price falls.

Despite these concerns, some analysts identify potential short-term demand zones for Ethereum between $3,690 and $3,750, where buyers might re-enter the market.