#MarketSentimentToday #MarketUpdate

The crypto market is experiencing a downturn today, with Bitcoin and Ethereum prices dropping. The global crypto market cap has fallen to $3.41 trillion, a 1.40% decrease over the last day. This decline is attributed to several factors, including:

- Macro Shocks: Uncertainty surrounding the US government shutdown and economic weakness are contributing to market volatility.

- Whale Profit Booking: Long-term holders and whales are selling, leading to significant outflows.

- ETF Outflows: Spot Bitcoin ETFs saw $1.15 billion in withdrawals last week, indicating institutional investors are pulling back.

Some notable news:

- Ripple's $500M Investment: Crypto firm Ripple raised $500 million in a strategic investment round, valuing it at $40 billion.

- Coinbase Fine: Ireland's central bank fined Coinbase Europe $25 million for breaching anti-money laundering obligations.

- Hedge Fund Exposure: 55% of traditional hedge funds now hold crypto, with most planning to increase exposure.

Keep in mind that the crypto market is highly volatile, and prices can change rapidly.