- The global cryptocurrency market has dropped by 2.8% to $3.382 trillion, with nearly all major tokens seeing a decline in price.
- Despite the market crash, it has been recorded that over $216 million has gone into Bitcoin spot ETFs, and Ethereum ETFs saw $11 million.
The crypto market is currently experiencing a sharp downturn today, with almost all tokens across the market hit with a decline and sell-off. Across the various tokens, some have had a decrease in price of under 5% in the last 24 hours, while others have had above 10%.
With the recent market decline, many investors are uncertain about their next move, as the downturn appears to be driven by a mix of global tensions, large-scale liquidations, and many uncertain and upcoming economic policies. This “market bleed” affected even the major assets like Bitcoin and Ethereum, sparking widespread concern about what might come next. Overall, the total market value has dropped by 2.8%, now standing at $3.382 trillion.
The Decrease in Price Across the Crypto Market
Bitcoin, the top crypto asset, has dropped by 0.1% in the last 24 hours, and its price is trading at about $105,229 as of the time of writing. Ethereum, the second top crypto asset, was also affected by the market crash, and so the price dropped by 1.0% and now trades at $2,533 but has a high of 2.5% in the 1-hr time frame when this work was recorded. Other tokens like Solana, Dogecoin, Cardano, and Sui have had between a 2-5% decrease in price in the last 24 hours.
Institutional Interest Grows Despite Current Crypto Market Crash
Even despite the current market position, large investors are still showing strong support for the market. Bitcoin spot exchange-traded funds (ETFs) have brought in more than $216 million. Since June 16, total inflows into Bitcoin have gone beyond $412 million, showing that investors are still very confident about the token.
Ethereum-related ETFs have also experienced similar gains with about $11 million in inflows, which, while smaller, still shows that many people with long-term goals are using this lower-price period to enter the market. This activity shows that experienced buyers see the current situation as a good chance to invest, rather than something to fear.
More Reading: Ethereum Price Prediction: Triple Bottom Forms, $3K Breakout Imminent
