Bitcoin hovers near $80,000 and Ethereum at $2,370 as macro uncertainty and weak institutional flows weigh on crypto markets

Bitcoin hovers near the 80,000 mark and Ethereum trades near $2,370 mark as the macro uncertainty and weak institutional flows weigh on crypto markets. The cryptocurrency was trading at $80,685 mark. In the past 24 hours, Bitcoin was down 1.2% and Ethereum was down 1.1%. Among the major altcoins, XRP, Solana, Hyperliquid, Dogecoin and Cardano corrected upto 2.2% whereas BNB and Tron were up 0.1% and 0.2% respectively. Riya Sehgal, Research Analyst, Delta Exchange said the pullback has been driven by a combination of macro uncertainty, weakening institutional flows and leveraged positioning.U.S. spot Bitcoin ETFs recorded approximately $636 million in net outflows on Thursday, while Ether ETFs saw around $111 million leave the products, signalling softer near-term institutional demand., Sehgal further said.

First reported by The Economic Times. This page is a short excerpt; the full text is theirs.