Crypto Products See $1.17 Billion Outflows as Bitcoin Struggles

CoinShares Report: Crypto Market Faces $1.17 Billion in Outflows

Digital asset fund products experienced significant outflows totaling $1.17 billion, indicating tough market conditions.
Bitcoin (BTC) faced challenges maintaining the $100,000 support level, contributing to outflows of $932 million.
Ethereum (ETH) similarly saw substantial outflows, reaching approximately $438 million.
By contrast, some altcoins such as Solana (SOL) and HBAR showed resilience with inflows of $118 million and $26.8 million, respectively.

Market Volatility and Liquidation

The broader crypto market underwent a liquidation event totaling $341.85 million, notably impacting short traders.
Bitcoin price rebounded to around $106,000 after a period of negative sentiment.
Liquidations included $115.98 million from Bitcoin, primarily affecting short traders who lost $106.75 million.
Ethereum liquidations amounted to $92.01 million, with short traders again experiencing higher losses.