Why Is The Crypto Market Down Today? Key Reasons Explained

The crypto market is in the red today, with a majority of the top-100 cryptocurrencies reflecting losses over the last 24 hours. Notably, only six altcoins, including two stablecoins, have managed to maintain a positive performance amidst a broader market sell-off.Expecting VaL (Value Area Low) to hold on pullbacks and VaH(Value area High ) to… pic.twitter.com/4UTExqQv0nWe are back to outflows and of course it’s Barry.
We had $120.6 million in outflows yesterday.$GBTC did $130.4 million of outflows.

Blackrock had 0. Which means that after 70 days for the first time they didn’t have any inflows.

Price… pic.twitter.com/Akh1agezb6

— WhalePanda (@WhalePanda) April 25, 2024

Notably, the momentum for spot Bitcoin ETFs has waned significantly in the past two weeks. The last notable day of inflows was on March 26, when they surpassed $400 million—nearly a month ago. On the bright side, despite this slowdown, there have been no outflows from either BlackRock or Fidelity. Grayscale’s GBTC remains the primary negative factor driving outflows.

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Furthermore, there seems to be a decrease in investment willingness among traditional sector investors; the total inflows through ETFs have been stagnant for more than 30 days, coinciding with a flat trend in Bitcoin prices.

At press time, BTC traded at $64,034.

Bitcoin price, 4-hour chart | Source: BTCUSD on TradingView.com

Featured image from Shutterstock, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Author: Jake Simmons

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