🔵The crypto market is closing out the autumn under clear selling pressure from large capital and rising demand for U.S. Treasuries. Significant Bitcoin sales by long-term holders, ETF outflows, and weakening risk appetite have deepened the downward trend. Macro factors are adding to the stress: uncertainty around the Federal Reserve’s rate path, rising Treasury yields, and shrinking liquidity make digital assets increasingly vulnerable to sharp swings.
🔵Ethereum and Hyperliquid are mirroring the broader market decline, facing capital outflows and falling DeFi TVL. Despite individual technological achievements across various projects, they remain insufficient to offset the overall cooling in demand. Analysts see potential for short-lived pre-holiday relief, but a full-scale rally by the end of 2025 appears unlikely.