The post Bitcoin Slips to $61K Amid Massive Outflows and Bitcoin ETFs Shake-Up appeared on BitcoinEthereumNews.com.

In recent developments, Bitcoin has slipped to $61,000 amid significant outflows and ongoing adjustments in Bitcoin ETFs. Altcoins mirrored this turbulent trading session today, moving in line with broader market trends. However, EIGEN and FTT stood out as the day’s top performers, defying the general downward trend. Stay updated on today’s cryptocurrency market with in-depth analysis and current price movements, including Bitcoin, Ethereum, Solana, and more. Bitcoin’s Decline to $61K Amid ETF Outflows Bitcoin’s value sank to $61,000 today, driven by substantial outflows from Bitcoin Exchange-Traded Funds (ETFs). According to data, these outflows amounted to approximately $242.53 million as of October 1. Despite this, Bitcoin still holds a significant dominance in the market, increasing by 0.4% to 56.31% over the past day. The market capitalization of Bitcoin today is estimated at $1.22 trillion, reflecting a bearish sentiment across the cryptocurrency sector. Impact on Other Major Cryptocurrencies Following Bitcoin’s lead, Ethereum (ETH) also experienced a decline, dropping over 5% to trade at around $2,491. Solana (SOL) and XRP also demonstrated volatility, with their values falling by 5% and 3% respectively, in the past 24 hours. This bearish atmosphere in the crypto market can also be observed in spot Ethereum ETFs, which recorded outflows of $48.52 million. Altcoins and Meme Coins: Performance Overview Altcoins such as Solana and XRP followed the downturn, with Solana valued at $147 and XRP at $0.6019. These figures indicate substantial intraday volatility, mirroring the broader market trends. Furthermore, meme coins like Dogecoin and Shiba Inu also took a hit, each falling approximately 8% in the past 24 hours. Other altcoins, including PEPE, WIF, and BONK, saw declines ranging from 2% to 9%. Top Gainers in the Market Amidst the sea of red, some cryptocurrencies emerged as top gainers. FTX Token (FTT) surged nearly 13% and is currently…

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Filed under: News - @ October 2, 2024 5:06 am