$280M Liquidations Hit Crypto Market as BTC ETF Outflows Rise and Poolin Tech Files for Bankruptcy

The cryptocurrency market is experiencing a downturn, with prices falling due to various factors including BTC ETF outflows and surging long liquidations.

According to recent data, there have been $280 million in total liquidations, with $192 million of those being long liquidations. This has led to a decrease in the crypto market's overall value, with the total market cap falling by 1.17% to $2.21 trillion.

The BTC ETF outflows are particularly noteworthy, as they topped $225 million on July 23 despite the price of Bitcoin remaining above $64,000. This has led some analysts to suggest that institutional demand may be weakening amid bearish macro pressures.