🔴😞 Market Analysis: 07-12-18
The crypto market weathered another turbulent session, as Bitcoin slid back towards the $90,000 mark and sector sentiment soured. The most dramatic move came with BlackRock’s IBIT experiencing its largest outflow run to date—another $113 million exited the fund, extending its losing streak to a full six weeks. Meanwhile, regulatory momentum accelerated in the U.S., with the CFTC announcing spot crypto asset contracts will start trading on registered futures exchanges, a clear sign that Trump administration’s pro-crypto policies are opening the gates for new market structures. As these tectonic shifts unfolded, altcoins remained largely subdued, casting a pall of uncertainty over near-term direction and amplifying investor caution.
With liquidity thinning and the specter of forced liquidations looming, the short-term outlook remains fragile: further outflows may deepen volatility as traders brace for catalysts ahead. Yet, the regulatory greenlight for spot trading carries the scent of fresh opportunity—potentially pulling institutional capital into the fray. Watch for Bitcoin to continue its magnet-like struggle around the $90K support, with altcoins waiting in the wings for conviction. Risks abound, from further ETF redemptions to macro headwinds, but in this atmosphere, even a glimmer of positive regulatory momentum can stoke hopes of a reversal.
- Record ETF outflows signal heavy risk-off sentiment.
- Regulatory developments may open doors, but timing and market impact remain uncertain.
- Bitcoin’s pivotal $90K zone is the eye of the storm for traders.