The global cryptocurrency market cap is $3.27 trillion, down 2.73% in the last 24 hours but up 57.23% from a year ago.
Bitcoin (BTC) leads the market with a capitalization of $1.9 trillion, representing 58.15% of the total crypto market.
The recent decline in the market is closely tied to significant outflows from U.S. spot Bitcoin ETFs, with net redemptions exceeding $500 million for two consecutive weeks. According to data from SoSoValue, last week, outflows totalled $559.41 million, following $585.65 million from the week before, indicating persistent investor caution. Notably, the week of February 18–21 saw a trend reversal, with a $60.63 million outflow, which escalated to $71.07 million and peaked at $364.93 million in a single day. On February 21, an additional $62.77 million was withdrawn, reinforcing the negative sentiment.
Grayscale’s GBTC led outflows with $60.08 million on February 21 due to redemptions after its conversion from a trust structure. Bitwise’s BITB and Fidelity’s FBTC also saw withdrawals of $16.58 million and $12.47 million, respectively. In contrast, BlackRock’s IBIT attracted $21.64 million in inflows, and VanEck’s HODL gained $4.71 million.
Bitcoin ETFs had a weekly trading volume of $10.72 billion but experienced net outflows of $1.1 billion since February 6, making February 2025 the worst month for withdrawals since their launch. Despite this, net inflows on specific days, such as February 4, 5, 7, and 14, showed intermittent buying interest.
Meanwhile, broader crypto investment products saw $1.3 billion in inflows last week, totalling $7.3 billion for the year, marking five consecutive gains. However, total assets under management (AUM) in exchange-traded products (ETPs) fell from $181 billion in January to $163 billion due to a market downturn. Trading volumes remained strong at $20 billion. Ethereum attracted the most inflows at $793 million, with its price at $2,100, as investors took advantage of the price dip.
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