Crypto Market Sees Continued Outflows Amid Uncertainty

The crypto market has been experiencing a series of outflows, with institutional investors continuing to sell their digital assets. According to recent data, the total recorded outflow for the week hit $288 million, marking the fifth consecutive weekly decline. This trend is evident in various blockchain ecosystems, including XRPL activity, which dropped to its lowest level in 30 days.

While other crypto products like Tron, Ethereum, and Bitcoin saw significant drawdowns in institutional portfolios, XRP and Solana managed to record mild inflows of $3.5 million and $3.3 million, respectively. Chainlink also contributed $1.2 million to the general capital inflow.

Despite these minor inflows, the market price outlook remains uncertain. The Bitcoin price has lost a critical support level, sparking concerns about a potential retracement to the $45,000 level. Altcoins are not faring any better, with significant drawdowns seen on Ethereum, Cardano, XRP, Binance Coin, and Tron.