Daily Crypto Signals: Bitcoin Plunges Below $90K Amid Record $2.9B ETF Outflows
Bitcoin retreated from recent highs following President Trump’s crypto reserve announcement, dropping below $90,000 amid record $2.9 billion outflows from cryptocurrency ETPs and global economic concerns over escalating US-China trade tensions.
The cryptocurrency market experienced significant volatility following US President Donald Trump’s announcement of a strategic crypto reserve that would include Bitcoin, Ethereum, XRP, Solana, and Cardano. Despite initial enthusiasm that pushed Bitcoin to $94,500 and sparked massive gains for altcoins, the market quickly reversed course as traders took profits and reacted to broader macroeconomic concerns, including China’s retaliatory tariffs against the US.
Crypto Market Developments
In regulatory news, the SEC abandoned its complaint against Kraken following almost 15 months of litigation; the exchange paid no penalties and kept its business model unaltered. Saying the case was a “wasteful, politically motivated campaign,” Kraken advised its dismissal “clears the path toward a stable, forward-looking regulatory regime.”
Since President Trump assumed office, the expulsion follows similar measures against Coinbase, OpenSea, Gemini, and Robinhood, therefore indicating a major change in government strategy. Concurrently, industry officials have been meeting with the recently established Crypto Task Force of the SEC to go over possible frameworks for digital asset control.
To comply with the Markets in Crypto-Assets Regulation (MiCA), Binance said it will delist nine stablecoins—including Tether (USDT) and Dai (DAI)—for customers in European Economic Area. Using Binance Convert, affected users can still sell non-MiCA-compliant stablecoins; the exchange is pushing conversion to compatible alternatives including USDC and Eurite (EURI).
Crypto ETFs Experience $2.9B Withdrawals
With withdrawals of record $2.9 billion last week, CoinShares reports that crypto ETFs (ETPs) saw their biggest weekly sell-off ever. Following a 19-week run of inflows totalling $29 billion, this is the third consecutive week of outflows, wiping off $3.8 billion from worldwide crypto ETPs.
With $2.6 billion in withdrawals, Bitcoin ETPs carried the most of the negative sentiment; products based on Ethereum lost $300 million. The $1.5 billion Bybit hack, progressively hawkish Federal Reserve language, and profit-taking following the significant previous buying streak were probably the several elements behind the great sell-off.
Though they still had $3.2 billion in net inflows year-to- date with $51 billion in assets under management, BlackRock’s iShares ETFs noted their highest weekly withdrawals at $1.3 billion. Although Grayscale Investments’ ETFs had less withdrawals of $421 million, year-to- date outflows of around $1 billion have been recorded with almost no notable influx in 2025.
With $76 million in inflows last week, ProShares ETFs were the only ones that escaped outflows. With $349 million in year-to– date inflows, ProShares presently ranks second among ETF issuers following BlackRock.
Bitcoin Price Drops Under $90K on Tariff War Fears
Following China’s declaration of retaliatory actions against more US import taxes, Bitcoin’s BTC/USD price dropped from $93,700 to $89,250 in about an hour, therefore wiping half of the gains made yesterday. After Trump’s strategic reserve declaration, Bitcoin’s dominance dropped below 50% for the first time in months as altcoins outperformed the top cryptocurrency, even if weekly highs followed.
After falling below its 20-week exponential moving average ($90,617), technical analysts see that Bitcoin is now strongly resisted around $90,000. Last week’s long-tailed candlestick pattern showing strong purchasing at lower levels suggests, however, support at the 50-week simple moving average ($75,534).
Traders are looking for a possible higher low construction to play out, which would drive a rebound toward once lost support levels nearer $100,000. Many analysts remain hopeful about Bitcoin’s long-term prospects despite recent volatility, especially with Strategy (previously MicroStrategy) likely to keep accumulating Bitcoin via its $42 billion debt and equity issuing plan.
Ethereum Experiences Profit-Taking Under $2,500
Ethereum ETH/USD momentarily topped $2,550 before profit-taking kicked in, then surged 7% in 24 hours to roughly $2,350. ETH stays up 13% from its recent low of $2,075 last week despite later pullback.
Several catalysts are supporting Ethereum’s price recovery:
- Trump’s inclusion of ETH in the proposed US Crypto Strategic Reserve
- Increasing ETH accumulation among whales, with large holders (1K-10K ETH) consistently adding to their positions since January
- Strong technical support in the $2,100-2,500 range, which has held since December 2023
Currently testing its 200-week exponential moving average (around $2,300) as support, Ethereum’s price has potential for a protracted rebound toward the 50-week EMA at roughly $2,910 should this level hold. A breach over the 50-week EMA might propel the price toward $4,000; failing to sustain support may set off a more severe decline toward $1,500.
Cardano’s Next Target at $2.26?
Cardano ADA/USD jumped more than 72% first before showing notable profit-taking, benefiting most from Trump’s strategic reserve declaration. ADA is still among the top performing major cryptocurrencies despite the downturn; futures traders are overwhelmingly optimistic.
From a daily average of about $15 million in late February, traders now possess ADA futures worth more than $26 million in notional value, according data from crypto exchange Bitrue. Of these open positions, about 92% are long, suggesting great belief in additional price rise.
On the weekly chart, Cardano seems to be creating a cup-and- handle pattern that would complete on a break and close over $1.25 technically. Should this trend prove effective, the projected aim is $2.26. The current rejection, however, after momentarily surpassing the declining channel pattern points to sellers staying aggressive at more elevated levels.
Top Altcoins to Watch Today
- XRP – After struggling to sustain above $3, XRP has fallen back to test its 20-day exponential moving average ($2.50). A break below this level could trigger a drop to $1.99, while a recovery might target $3.40 and potentially $5 if bullish momentum returns.
- Solana (SOL) – Solana faces selling pressure near its 50-week SMA ($173) after rebounding from the $125 support. The cryptocurrency needs to break above the 20-week EMA ($191) to reverse its downtrend and target $220 and eventually $260.
- Sui (SUI) – Against the broader market trend, Sui-based ETPs saw $15.5 million in inflows last week, making it the best performer in the ETP space. This contrarian movement suggests institutional interest despite the broader market correction.
- Proton (XPR) – While not mentioned in Trump’s announcement, Proton has gained attention as traders speculate about potential additions to the strategic reserve list, with some drawing parallels to XRP’s regulatory situation.
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