Crypto just had one of those weeks where almost nothing went right.
Around $85B was wiped from the total crypto market cap.
Bitcoin dropped to a 31-day low near $62,500, while spot BTC ETFs recorded roughly $389M in outflows, their biggest weekly outflow in six weeks.
Then came another headline nobody wanted to see: Strategy sold another 1,690 BTC worth about $108M.
Altcoins looked even weaker. The altcoin market cap posted its lowest weekly close in nearly three years.
And on the regulatory side, the SEC suddenly cancelled its August 14 meeting that was expected to discuss proposed crypto rules. The agency cited an unforeseen scheduling issue, with no new date announced.
So you had selling pressure, weak ETF demand, Bitcoin falling, altcoins getting crushed and regulatory clarity being pushed back.
That is a lot of negative pressure hitting the market at the same time.
But this is also where things get interesting.
Bad weeks expose where the real strength is.
The next move matters, but so does how the market reacts after taking this kind of hit.
Around $85B was wiped from the total crypto market cap.
Bitcoin dropped to a 31-day low near $62,500, while spot BTC ETFs recorded roughly $389M in outflows, their biggest weekly outflow in six weeks.
Then came another headline nobody wanted to see: Strategy sold another 1,690 BTC worth about $108M.
Altcoins looked even weaker. The altcoin market cap posted its lowest weekly close in nearly three years.
And on the regulatory side, the SEC suddenly cancelled its August 14 meeting that was expected to discuss proposed crypto rules. The agency cited an unforeseen scheduling issue, with no new date announced.
So you had selling pressure, weak ETF demand, Bitcoin falling, altcoins getting crushed and regulatory clarity being pushed back.
That is a lot of negative pressure hitting the market at the same time.
But this is also where things get interesting.
Bad weeks expose where the real strength is.
The next move matters, but so does how the market reacts after taking this kind of hit.