The cryptocurrency market experienced a significant downturn, losing $17 billion as both retail and institutional investors faced substantial losses in Bitcoin, Ethereum, and AI-related tokens. On-chain data revealed that Bitcoin and Ethereum funds saw major outflows, amounting to $1.37 billion over the past week. Additionally, $2.10 billion in positions were liquidated during this period. QwQiao from Alliance DAO highlighted concerns over a potential market top, cautioning about risks associated with a possible bursting of the AI stock bubble. This volatility underscores the ongoing challenges and uncertainties within the crypto market, particularly as it navigates the impacts of institutional outflows and broader market dynamics.