Join on WhatsApp
Join on Telegram
Mohammedia – Crypto markets suffered another bruising week as investors pulled billions from major digital asset products, adding pressure to an already weakened market.
Bitcoin hovered slightly above $83,000 after more than $2 billion worth of long positions were liquidated, while Ethereum, Solana, and XRP all slid below key support levels.
Although the downturn rattled retail traders, the heaviest blow came from institutional outflows, with nearly $903.1 million exiting Bitcoin exchange-traded funds and more than $261.6 million leaving Ethereum products.
Analysts say recent selling resembles the panic seen during the FTX collapse, as short-term holders unwind positions and large wallets quietly scale back exposure.
Ethereum struggled to regain momentum around $2,700, facing persistent resistance at $3,200. Solana and XRP followed a similar path, each breaking through important technical floors on unusually heavy selling.
Despite the turbulence, the appetite for crypto investment vehicles has not fully evaporated. A new XRP-focused ETF launched on the New York Stock Exchange this week, offering US investors regulated exposure to the token.
The Bitwise XRP ETF recorded 1.14 million shares traded on its first day, the equivalent of roughly $25 million in volume.
While the figure came in below early forecasts of $90 million, the debut was notable given the market backdrop and ongoing risk aversion across financial assets.
Bitwise is waiving management fees for the first month on the first $500 million in assets to attract early demand.
The ETF is physically backed by XRP held in custody by Coinbase, and it tracks a benchmark designed to reduce manipulation risk.
On-chain analysts say large token holders remain cautious, reducing positions throughout the week as uncertainty grows and liquidity thins.
Market turbulence deepened after a sharp selloff in global equities and bonds, raising concerns about broader financial fragility. That backdrop has now become part of the crypto story.
A warning signal from Europe
European Central Bank policymaker Alvaro Santos Pereira issued a pointed warning that steep drops in global markets — including cryptocurrencies — have become a top risk for financial stability.
Pereira urged central banks to preserve room for future rate cuts if economic conditions deteriorate further.
His comments followed a volatile stretch in which stocks tumbled, Treasury yields plunged, and risk assets of all kinds came under pressure before stabilizing late in the week.
Markets briefly regained footing after a US Federal Reserve official hinted that future rate cuts remain on the table.
Pereira said that parts of the US stock market and the crypto sector appear overvalued, calling them potential trouble spots in a world already strained by geopolitical tensions and trade disruptions.
His remarks come ahead of the ECB’s Financial Stability Review, which is expected to take a closer look at rapidly shifting market conditions.
For crypto investors, the message is hard to ignore. The latest wave of outflows and price declines is unfolding just as central bankers warn of rising fragility, creating a landscape where digital assets are increasingly moving in lockstep with global risk sentiment rather than against it.
Read Also: Why Bitcoin Crashed Despite Reaching a New All-Time High
