Market Awaits a Reversal: BTC ETF Outflows, Record Hashrate, and Cautious Optimism
The cryptocurrency market continues to operate in a state of instability, balancing between local capital outflows and fundamentally positive signals. Recent developments suggest the formation of new trends, and although it’s too early to talk about a full-fledged reversal, market participants are already seeing signs of a potential recovery. Below are the key events of the past day that may shape the near future of digital assets.
Spot Bitcoin ETFs Continue to Lose Capital
As of yesterday’s trading session, $326 million was withdrawn from spot Bitcoin ETFs. This marks one of the largest single-day outflows in recent weeks. Leading funds such as Grayscale (GBTC), BlackRock, and Fidelity are showing a decline in interest from institutional investors.
The outflows may be linked to a general decrease in appetite for risk assets amid macroeconomic uncertainty and expectations for new signals from the U.S. Federal Reserve. Additionally, market participants are choosing to lock in profits, especially after BTC failed to hold above the $70,000 mark.
Ethereum Stalls: Investors Remain Cautious
Funds investing in Ethereum (ETH) are showing virtually no activity, with inflows and outflows at minimal levels. This suggests that investors are taking a wait-and-see approach, monitoring Bitcoin’s performance and overall market trends.
However, it’s important to remember the high correlation between ETH and BTC. Should Bitcoin recover confidently, Ethereum will likely follow, albeit with a slight delay.
BTC Chart Forms “Double Bottom” Pattern
From a technical perspective, Bitcoin is showing signs of a reversal pattern known as a “double bottom,” which could signal a trend change. If the support level holds and the price breaks through key resistance levels, a gradual return of buyers and an increase in market capitalization can be expected.
That said, it’s still too early to draw conclusions. The market remains in a phase of uncertainty, and any moves could be false until clear confirmation of a reversal appears.
BTC Hashrate Sets Historic Record: 1 Zettahash
Amid price fluctuations, Bitcoin network fundamentals continue to strengthen. The hashrate has reached 1 zettahash for the first time in history (1,000 exahashes per second) — indicating a continued increase in the network’s computing power despite price volatility.
This growth reflects high confidence from miners and the ongoing economic viability of mining. Network difficulty remains elevated, maintaining a steady block production rate of roughly every 10 minutes.
The rising hashrate and miner activity are positive long-term signals for the market. They confirm Bitcoin’s resilience and decentralized nature while hinting at continued confidence in its future growth.
EU Tightens Grip: Are Cryptocurrencies a Threat to Stability?
The European regulator has once again reiterated its strict stance on digital assets, declaring that cryptocurrencies pose a threat to financial stability. Such statements are becoming more frequent as the EU prepares to fully implement the MiCA framework and increase oversight of stablecoins and DeFi platforms.
In the coming months, we’ll likely see another wave of regulatory pressure on crypto companies operating in Europe, especially those involved in anonymous transfers and uncontrolled protocols.
Kraken Launches Crypto Credit Cards with Mastercard
Amid cautious news from the institutional sector, there are also some positive developments. Crypto exchange Kraken has announced a partnership with Mastercard to launch crypto credit cards. This will allow users to spend cryptocurrency directly using familiar fiat payment infrastructure.
This is an important step toward mass adoption of crypto: when users can spend their assets in everyday life, demand and interest in digital money receive an additional boost.
The market stands at a crossroads. On one hand — capital outflows, investor caution, and increasing regulatory pressure. On the other — record-breaking hashrates, a potential technical reversal, and encouraging initiatives from major players.
The key now is to stay calm and keep a close eye on confirmation signals. A true reversal always begins quietly — and those who spot it early will be the ones who benefit most.
