Market Bleeds $1.47 Billion Amid Deepening Risk-Off Sentiment

Crypto exchange-traded products (ETPs) recorded significant outflows of $1.47 billion over the past week, indicative of a growing risk-off sentiment among investors. Bitcoin funds were notably at the forefront of these losses. However, a glimmer of resilience was observed as nine altcoin ETPs still managed to attract inflows exceeding $1 million.

Ethereum Faces Bearish Outlook as TVL Hits 13-Month Lows

Ethereum (ETH) is currently navigating a challenging period, with its price chart targeting a potential 14% drop to $1,800. The asset is trading in a classic bearish pattern, and the Ethereum network's total value locked (TVL) has reached a 13-month low, suggesting decreased capital and activity within its decentralized finance ecosystem.

Web3 and AI Sectors Drive Innovation Despite Market Headwinds

In contrast to the broader market's struggles, the intersection of Web3 and Artificial Intelligence continues to attract significant interest and investment. Luffa AI, a key innovator in this space, announced a strategic equity investment from Hong Kong-listed GoFintech Quantum Innovation Limited, valuing the company at US$220 million. Separately, Hyperliquid has expanded its offerings by launching canonical prediction markets for real-world offchain events, positioning itself as a potential 'onchain superapp' beyond its traditional perpetuals.