Crypto Market Down 1.22% to $2.86 Trillion Amid Macro Pressure

The crypto market experienced a decline of 1.22% in the past 24 hours, reaching a total market capitalization of $2.86 trillion. This downturn is largely attributed to leverage flushes and profit-taking on overheated altcoins.

BTC's price is facing macro pressure due to President Trump not ruling out further strikes on Iran before the November midterms. Prediction markets suggest a 64%, 65% chance of another Fed rate hike in October, which also weighs on the Bitcoin price.

Despite this weakness, institutional demand remains strong, with Bitcoin and Ethereum ETFs recording significant weekly inflows. This indicates that investors are still interested in these assets, even if their prices have declined.