Bitcoin plunges below $ 109,000

On Thursday, September 25, US exchange-traded funds for bitcoin BTC $107,889.00 Mezo Wrapped BTC -2.25% Market capitalization $38.37 million VOL. 24 hours $2.24 billion and ethereum ETH $3,907.89 Bridged Ether (StarkGate) -3.61% Market capitalization $91.47 million VOL. 24 hours $3.2 billion recorded significant capital outflows, SoSoValue reports. Investors withdrew $ 258.46 million from the Bitcoin ETF and $ 251.20 million from the Ethereum ETF. At the same time, only one bitcoin fund showed an inflow of funds, while ethereum funds did not receive any inflows.

Among Bitcoin ETFs, Fidelity FBTC showed the largest losses — $ 114.81 million. Bitwise BITB ($ 80.52 million), Ark & 21Shares ARKB ($ 63.05 million), and Grayscale GBTC ($ 42.90 million) also experienced significant selling pressure. Additionally, outflows were recorded in Grayscale BTC ($ 15.49 million) and VanEck HODL ($ 10.08 million). Franklin EZBC ($ 6.35 million) and Valkyrie BRRR ($ 4.96 million) had the smallest withdrawals. The only fund with a positive balance was BlackRock IBIT, which recorded an inflow of $ 79.70 million. On Thursday, the total trading volume in bitcoin funds reached $ 5.42 billion, and net assets amounted to $ 144.35 billion, which is equal to 6.64% of bitcoin’s market capitalization.

Ethereum ETFs also suffered serious losses. The leader of outflows was Fidelity FETH — $ 158.07 million, while Grayscale ETHE lost $ 30.27 million. Bitwise ETHW and Grayscale ETHE reduced their positions by $ 27.60 million and $ 26.14 million, respectively. Franklin EZET ($ 2.98 million), 21Shares TETH ($ 2.36 million), Invesco QETH ($ 2.34 million), and VanEck ETHV ($ 1.44 million) saw smaller withdrawals. Despite the outflows, the total trading volume in ethereum funds increased to $ 3.31 billion, and net assets amounted to $ 25.59 billion, which corresponds to 5.46% of the Ethereum market.

The market decline was also reflected in the prices of major cryptocurrencies. The value of bitcoin dropped to $ 109,302, which means a 64.6% drop compared to last week. The market capitalization of cryptocurrencies decreased to $ 2.178 trillion, but daily trading volumes increased to $ 70.59 billion.

Ethereum is trading at around $ 3,944.68, with a market capitalization of $ 76.28 billion. Despite the decline in price, daily trading volumes rose to $ 58.628 billion, which may indicate an increase in investor activity amid the general downturn.