Just when it looked like Bitcoin (BTC) was getting back on its feet after Friday’s flash crash, the market has taken another downturn. Yesterday’s brief recovery that pushed BTC back to nearly $116,000 has fizzled out – with the coin slipping below the $112,000 mark again today.
The culprit is the same old story: global market jitters. Renewed fears of a trade war between the U.S. and China are making investors nervous. And when traditional markets become shaky, crypto often suffers as a result.
Adding to the nervousness, we’re now seeing money flow out of the spot Bitcoin ETFs. After weeks of inflows, the funds just saw their largest single-day withdrawal since late September. This is a sign that institutional investors, who have been a major force behind recent rallies, are starting to get cautious.
Yet while the broader market is looking bearish, one new project is bucking the trend entirely. A Bitcoin Layer-2 called Bitcoin Hyper (HYPER) has been gaining momentum – pushing its presale total past $23.5 million as traders rush for early exposure.
Bitcoin Price Slides Below $112K as Macroeconomic Jitters Return
Bitcoin has dropped more than 3% in the last day, erasing most of the recovery it made on Sunday and Monday. The coin is now sitting roughly where it was on Sunday morning. Trading activity has cooled off too, with spot volumes down about 17%.
Traders are unwinding, as nearly $630 million in leveraged positions got liquidated in the past 24 hours. Most of those liquidations were traders betting on Bitcoin’s price to keep going up.
Today’s sell-off is (unsurprisingly) connected to the broader market mood. China just announced sanctions against some U.S. units of a South Korean company, reigniting fears of a trade conflict with Washington.
Stocks in Asia and U.S. futures fell on the news – and crypto followed right along. It’s yet another reminder that even when things are looking positive, Bitcoin is still vulnerable to the same headlines that sway traditional markets.
Spot BTC ETF Outflows Add to the Bearish Pressure
And it’s not just Bitcoin’s price chart that looks shaky. Yesterday, U.S. spot BTC ETFs recorded net outflows of around $326 million – the biggest single-day withdrawal we’ve seen since late September.
BlackRock’s IBIT did pull in over $60 million, but heavy redemptions from funds like Fidelity’s and Grayscale’s easily wiped out that gain. It shows that even as one fund buys the dip, most are still heading for the exits.
This is a clear shift after weeks of money steadily flowing in, and it hints that the big institutions are trimming their positions. It doesn’t feel like outright panic, but rather a cautious move to de-risk, given the cloudy macroeconomic picture.
Still, ETF flows are often a good short-term read on market sentiment. Right now, that read is leaning bearish. Until capital starts flowing back in, the path of least resistance for Bitcoin could remain downward.
Bitcoin Hyper Defies Crypto Weakness & Hits $23.5M in Presale as Demand Spikes
While Bitcoin struggles with external pressures, a project within its ecosystem is bucking the trend. Bitcoin Hyper just sailed past the $23.5 million mark in its presale, pulling in a lot of interest while the rest of the market sold off.
So, what’s the draw? Bitcoin Hyper is trying to solve some of Bitcoin’s oldest problems. The Bitcoin blockchain can still only handle about 3-7 transactions per second (TPS), which is a world away from what other Layer-1s like Solana and Sui can do.
Bitcoin Hyper will use the Solana Virtual Machine (SVM) to bring that kind of speed – plus lower fees and DeFi capabilities – to Bitcoin. It’s built as a Layer-2 blockchain, designed to combine Bitcoin’s security with Solana’s high performance.
With the HYPER token presale still live, investors can buy in at a discount ($0.013115 per token) compared to the planned DEX listing price. And a recent whale purchase of $19,600 shows that confidence from high-net-worth investors is growing.
Even well-known crypto analysts like Borch Crypto have been talking up Bitcoin Hyper’s prospects, predicting it could 100x. Ultimately, if today’s market dip highlights Bitcoin’s current limitations, Bitcoin Hyper’s presale success shows how traders are actively seeking projects that solve the chain’s scalability issues.
Visit Bitcoin Hyper Presale
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