Crypto Market Plummets: Whale Sell-Offs and Slowing ETF Inflows Trigger Downward Trend

The cryptocurrency market saw significant losses today, with the total value plummeting by 1% to $3.29 trillion. Bitcoin, the dominant crypto asset, experienced a 0.7% dip, trading at around $104,618.95 and its market capitalization now stands at $2.08 trillion. While the fear index remains steady at 55, suggesting a neutral market sentiment, what is driving this downturn? Several key factors are contributing to the market slump.