Cryptocurrency markets slipped on the day with Ether (ETH) leading losses among major tokens as macro data and shifting institutional flows weighed on sentiment. Traders pointed to today’s PCE inflation prints and a rotation in ETF inflows that briefly flipped momentum between BTC and ETH.
Several headlines amplified market nervousness: a surge in proposed exchange-traded products (an estimated 92 crypto-related ETPs in the pipeline), fresh ETF filings from firms like 21Shares, and large corporate and institutional moves — including a newly formed $200m SPAC focused on bitcoin infrastructure and an announced Nasdaq listing for American Bitcoin.
On the infrastructure front, U.S. agencies and private firms advanced onchain-data work: the government is partnering with oracle projects like LINK and PYTH to bring trusted feeds onto chains. Meanwhile, Caliber set up a LINK treasury and Robinhood rolled out spot trading for TON, signaling continued corporate adoption across different layers of the ecosystem.
Solana also showed strength in pockets: SOL decentralized finance total value locked returned to all-time highs, and a large buyer (DFDV) reportedly acquired about $77m in SOL, highlighting concentrated, bullish bets amid broader weakness.
What matters: the market is reacting to a mix of macro data, shifting institutional allocations, and high-profile corporate actions. These developments can accelerate short-term volatility even as they point to deeper, longer-term institutional interest.
Risk reminder: crypto markets remain highly volatile. Short-term price moves can be driven by macroeconomic releases, liquidity flows, and single large trades. This article is for informational purposes and not financial advice.
Source: Decrypt. Read the original coverage for full details.