Global crypto markets are navigating turbulent conditions, with Bitcoin (BTC) experiencing a significant downturn. The leading cryptocurrency dipped below the $100,000 mark for the third time this month, driven by persistent selling pressure and mounting regulatory concerns. This decline coincided with a broader selloff in Asian stock markets, triggered by cautionary signals from Federal Reserve officials regarding potential interest rate cuts, contributing to a risk-off sentiment across financial assets.

In contrast, the XRP ecosystem witnessed a notable development with the successful launch of Canary Capital's XRP Exchange Traded Fund (ETF). The ETF debut set a 2025 record for first-day trading volume, accumulating over $58 million. This impressive volume underscores robust investor demand and interest for exposure to XRP. However, despite the positive sentiment surrounding the ETF's launch and strong demand, the XRP token itself faced immediate price weakness, falling 5% and reflecting a wider market pullback that continues to impact digital assets.