The crypto market clawed back some ground, ticking up about 5% after a sharp slide and inching closer to the $2.94 trillion mark. Even with this recovery, the total market cap still sits over 9% below last week’s level. Investors are nervous, no doubt about it, but the panic selling seems to be cooling off, and a bit of stability is creeping in.
Bitcoin Finds Its Feet as Risk Sentiment Improves
Market fear is still running high—the fear index jumped to 19, which is deep in “extreme fear” territory, but at least it broke out of that tight 10-day rut. That’s usually a hint that the selling’s gotten overdone, and buyers are starting to poke their heads out.
Bitcoin managed to push up to $88,000 early Tuesday before sliding back toward $86,000 in the European session. On Friday, BTC dipped all the way to $80,500, but buyers jumped in as global risk appetite picked up. The odds of a December Fed rate cut shot up from 28% to 75%, and that gave crypto a lift too. Earlier this year, Bitcoin found solid demand in the $75K–$85K range, so don’t be surprised if it hangs out there while things settle down.
ETF Flows Tell a Mixed Story
ETF flows still paint a cautious picture. Spot Bitcoin ETFs recorded net outflows for the fourth week straight—$1.22 billion last week alone, $5.13 billion over five weeks. Ethereum ETFs didn’t fare much better, losing $500.3 million last week and $2.28 billion in five weeks. On the flip side, Solana spot ETFs have seen four weeks of steady inflows, adding up to $120.2 million. XRP spot ETFs are on a six-session winning streak, bringing in $422.7 million. So, while most big names are seeing red, some investors are picking their spots.
Market Still Searching for a Bottom
Options data from Glassnode shows no clear bottom for Bitcoin yet—put-option positioning sits at 67.6%. BTC losses just hit levels not seen since the FTX crash, which analysts call classic capitulation. Experts say Bitcoin stays under pressure unless we see real, meaningful demand from big players or retail investors. Swiss block thinks we’re in the final phase of seller exhaustion, but for the market to really bounce back, we need to see stronger inflows.
