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Bitcoin and Ethereum drop as $256M in liquidations hit markets, while spot Bitcoin ETFs record inflows.<\/p>\n
Major digital assets slipped on Thursday, Sept. 4, after two days of gains, as markets weighed President Donald Trump\u2019s latest request that the Supreme Court overturn a ruling striking down many of his trade tariffs.<\/p>\n
Bitcoin (BTC)<\/a> dropped 2.4% over the past 24 hours to $109,500, bringing its weekly losses to 3.2%. Ethereum (ETH)<\/a> is down 4% on the day to $4,309, now down 6% over the week. <\/p>\n Gadi Chait, Head of Investment at Xapo Bank, said in comments shared with The Defiant that \u201cRed September\u201d has also historically \u201cposed a stumbling block for Bitcoin.\u201d The term refers to September\u2019s reputation as a weaker month for both the stock market and cryptocurrencies.<\/p>\n XRP<\/a> is down over 2% to $2.81, while Solana (SOL)<\/a> dipped 3.4% to $204.<\/p>\n Bucking the trend in the altcoin space is pumpfun\u2019s PUMP token, which has surged 12% on the day. The rally comes two days after token buybacks exceeded 5% of PUMP\u2019s total supply<\/a>.<\/p>\n The broader total cryptocurrency market capitalization dropped 2.2% over the past 24 hours to $3.87 trillion, with Bitcoin dominance at 56.4% and Ethereum at 13.4%, according to CoinGecko<\/a>.<\/p>\n Over the past 24 hours, nearly $256 million in crypto positions were liquidated, including $202 million of long positions and $53 million of shorts, per CoinGlass<\/a>. Ethereum led with over $79 million in liquidations, followed by Bitcoin at $44 million.<\/p>\n Spot Bitcoin exchange-traded funds (ETFs) drew $301 million in net inflows on Wednesday, Sept. 3, marking their second consecutive day of gains, according to SoSoValue<\/a>.<\/p>\n \u201cAs institutional capital continues to pour in and ETFs draw in around $300 million worth of inflows, Bitcoin\u2019s trajectory remains strong,\u201d Chait said. \u201cThis resilience in the face of external shocks is an encouraging sign of [Bitcoin\u2019s] maturity as an asset class.\u201d<\/p>\n By contrast, spot Ethereum ETFs posted a third consecutive day of outflows, with more than $38 million withdrawn on Sept. 3.<\/p>\n The market uncertainty came as investor confidence was dampened by Trump\u2019s feud with a federal appeals court after it ruled that several of his tariffs were unlawful, which raised concerns over the future of U.S. trade policy.<\/p>\n In response, Trump\u2019s administration asked the Supreme Court on Wednesday evening to urgently review the president\u2019s authority to impose them under a 1977 emergency powers law. <\/p>\n \u201cToday, a Highly Partisan Appeals Court incorrectly said that our Tariffs should be removed, but they know the United States of America will win in the end,\u201d Trump said<\/a> on Truth Social, following the appeals court decision on Friday. \u201cIf these Tariffs ever went away, it would be a total disaster for the Country. It would make us financially weak, and we have to be strong.\u201d<\/p>\nLiquidations and ETFs<\/h2>\n
Tariff Drama<\/h2>\n