The cryptocurrency market is facing intensified selling pressure as nearly $900 million has been withdrawn from spot Bitcoin ETFs, according to Saxo Bank strategists. The iShares Bitcoin Trust has been hit hardest by these outflows, while the iShares Ethereum ETF also shows continued weakness. Contributing to the market's decline are uncertainties around Federal Reserve policy, mixed U.S. employment data, and reduced market liquidity, further exacerbating the sell-off.