Last week in crypto felt less like a random pullback and more like big money stepping back.
The US spot Bitcoin ETFs saw five straight days of outflows (~$1.7B), and that kind of selling pressure tends to hit momentum fast. BTC slid under $90K and drifted toward the $86K area, which is starting to look like the market’s “line in the sand.”
The sentiment flipped just as quickly. The Crypto Fear & Greed Index dropped to 29 (Fear)—basically traders shifting from “chase the pump” to “protect capital.”
So what changed? Macro is back in charge. Japan’s long-dated JGB yields moved to record highs, stirring global bond volatility and tightening financial conditions—usually not great timing for high-beta assets like crypto.
The silver lining: regulation may be getting smoother. The SEC approved generic listing standards for crypto/spot commodity ETFs, and the process can cut timelines to around 75 days—which could help new products roll out faster once the market calms down.
Watchlist: ETF flows, the $86K BTC level, and bond yields — they’re setting the tone.
Not financial advice. Do your own research.
