Bitcoin fell 2.49% to $104,500, breaking below its $107k cost-basis support with ETH dropping 6.6% to $3,500, while SOL slid to $158. Total crypto market cap declined 3% to $3.51 trillion amid accelerating ETF outflows and fading institutional demand.
Bitcoin ETFs recorded $186.51 million in outflows, all from BlackRock’s IBIT; Ethereum ETFs lost $135.76 million, while Solana ETFs bucked the trend with $70 million of fresh inflows.
Stablecoin inflows to Binance hit $7.3 billion, their highest level since December 2024, a potential early sign of cash flow returning to markets.
Long-term holders and whales continue to de-risk; however, exchange BTC balances dropped by 208,980 coins in the last six months, showing limited forced-sell pressure.
The HKMA handed its first approvals to the banks that already print the Hong Kong dollar. That tells you everything about what these tokens are meant to be.
Geopolitical pressure from the Strait of Hormuz standoff continues to weigh on BTC, which has failed to sustain gains above $72,500 even as whale selling dries up and leveraged shorts accumulate.
BTC retreated from a weekend high near $73,000 after the U.S. announced naval interdiction of vessels transiting the Strait of Hormuz, compounding an already fragile market structure.
DRW founder Don Wilson's blunt critique of MEV cuts to a deeper flaw: blockchain market design has drifted into engineering complexity that extracts value without improving price discovery or capital allocation.
