Bitcoin has fallen below $102,000, marking a 1.19% decline as the cryptocurrency market faces pressure from ongoing macroeconomic uncertainties and sustained outflows from crypto ETFs. U.S. Bitcoin spot ETFs saw a net outflow of $5.78 billion yesterday, continuing a five-day streak of withdrawals. Ethereum spot ETFs also experienced a fifth consecutive day of outflows, totaling $2.19 billion.
Despite the broader market downturn, some altcoins and meme coins are showing resilience. $JELLYJELLY's market cap briefly surpassed $500 million, with a 24-hour trading volume of $104 million. Meanwhile, Solana spot ETFs attracted $14.9 million in net inflows, maintaining a positive trend since their launch.
The U.S. government shutdown has entered its 36th day, setting a new record and potentially impacting macroeconomic conditions and market sentiment. This prolonged shutdown could lead to increased risk aversion, affecting both traditional and crypto markets.
Bitcoin ETF Outflows Continue Amid U.S. Government Shutdown
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