ETFs Bleed, Crypto Market Falls as 176K Traders Lose $929M

The cryptocurrency market is under pressure from multiple sides, and even the massive whale buying spree couldn’t neutralize the selloff. According to data from CoinMarketCap, the global crypto market capitalization fell from $3.11 trillion to $3.02 trillion over the past 24 hours, marking a roughly $90 billion downfall. Spot Bitcoin exchange-traded funds in the US also recorded a net outflow of $483.4 million on Jan. 20, led by Grayscale’s $160.8 million selloff, according to SoSoValue data. Due to th ...