$BTC Last week, there was a massive outflow of funds from the global cryptocurrency market, covering multiple countries, service providers, and asset classes. The United States unilaterally withdrew $763 million from cryptocurrency ETFs, with $751 million flowing out of Bitcoin and $37.6 million out of Ethereum. Major altcoins like Solana, Sui, and Litecoin also suffered, with even short positions on Bitcoin being closed, indicating extremely bearish market sentiment.

However, XRP stood out, as it had the highest inflow among all non-Bitcoin tokens, according to CoinShares data. Notably, since February, the cryptocurrency industry has seen an outflow of $7.2 billion, nearly wiping out all net growth since the beginning of the year, with a current net inflow of only $165 million this year.

Despite this, due to the temporary cancellation of some tariffs by the United States, prices rebounded over the weekend, leading to an increase in total assets under management (AUM) to $130 billion. While this brought a brief respite, overall market sentiment remains pessimistic.