<\/p>\n
Bitcoin slipped below $113,000 as Ethereum ETFs face record daily net outflows amid mixed market sentiment.<\/p>\n
Crypto markets dipped on Tuesday as Ethereum exchange-traded funds (ETFs) posted their largest one-day outflows to date, signaling renewed investor caution.<\/p>\n
Bitcoin (BTC)<\/a> is down nearly 2% on the day, trading around $113,200 and extending its weekly losses to about 4%. Ethereum (ETH)<\/a> has dropped 3.2% in the past 24 hours to about $3,587, bringing its weekly decline to 4%. <\/p>\n Among other large-cap altcoins, XRP<\/a> has slipped 2.3% to $2.98, while Solana (SOL)<\/a> is down about 3% today $163, recording a nearly 9% loss on the week.<\/p>\n The total cryptocurrency market capitalization has fallen 2% on the day to around $3.77 trillion, according to CoinGecko<\/a>. Trading volume over the same period reached $131 billion.<\/p>\n Over the past 24 hours, more than $363 million in crypto positions were liquidated, according to CoinGlass<\/a>, with long positions making up the majority at $239 million. ETH led the liquidations with nearly $128 million, followed by BTC at around $60 million, while smaller-cap altcoins accounted for roughly $40 million.<\/p>\n In the crypto ETF space, Ethereum ETFs recorded their largest-ever single-day net outflows, with approximately $465 million withdrawn on Aug. 4, according to SoSovalue<\/a>. This comes after ETH ETFs broke their multi-week net inflow streak on Friday with a relatively high net outflow of $152 million.<\/p>\n BlackRock\u2019s ETHA fund led Monday\u2019s outflows, with nearly $375 million pulled. Fidelity\u2019s FETH, Grayscale\u2019s ETHE and the Grayscale Ethereum Mini Trust also recorded outflows of $55 million, about $7 million, and $28 million, respectively.<\/p>\n The outflows come nearly three weeks after the funds recorded their highest daily inflows yet<\/a>. July was also ETH ETFs\u2019 best month on record, with the products recording net inflows every single trading day except one, July 2, for a total of $5.43 billion over the month.<\/p>\n Meanwhile, spot Bitcoin ETFs also experienced notable net outflows on Monday totalling $333 million, just one day after posting their second-largest single-day outflow<\/a> since launching in January 2024.<\/p>\n The market downturn comes amid news that President Donald Trump plans to sign an executive order<\/a> aimed at protecting crypto firms, individuals, and other institutions from debanking. Debanking<\/a> refers to the practice of a bank refusing or withdrawing service to a user or firm based on perceived risks. <\/p>\n Earlier today, Trump claimed that JPMorgan Chase and Bank of America \u2013 the two largest U.S. banks \u2013 had denied him service. \u201cThe banks discriminated against me very badly, and I was very good to the banks,\u201d he said during an interview on CNBC\u2019s Squawk Box<\/a>, adding that \u201cthey discriminate against many conservatives.\u201d <\/p>\n Meanwhile, on Monday, blockchain-based lending and tokenization firm Figure Technology Solutions (FTS) confidentially filed for an initial public offering (IPO) <\/a>with the U.S. Securities and Exchange Commission (SEC), joining the growing wave of crypto-related companies pursuing public listings this year. <\/p>\nRecord ETF Outflows<\/h2>\n
Mixed Investor Sentiment<\/h2>\n