The cryptocurrency market is experiencing significant losses following two consecutive price dips, primarily attributed to the rise in Bitcoin Spot ETF outflows. This recent downturn marks the first time in 19 days that outflows have exceeded inflows, indicating a shift in market dynamics. The red bleeding in the crypto market has stirred confusion and concern among investors and enthusiasts as major cryptocurrencies like Bitcoin and Ethereum witness a decline in their values.

A recent report on June 10 reveals that the total net outflow of Bitcoin spot ETFs reached $64.9318 million, breaking the streak of net inflows that had lasted for nearly three weeks. Notable ETFs, such as Grayscale ETF GBTC, observed a single-day outflow of $39.5366 million, while Bitwise ETF BITB recorded an inflow of $7.5910 million and BlackRock ETF IBIT... The disruption in steady ETF inflows is viewed as a significant factor contributing to the latest market turbulence.

Analysts speculate that the underlying cause of the recent sharp decline may be linked to the interruption in ETF inflows, as showcased in the data provided by Wu Blockchain. Despite the earlier correction phase, the subsequent dip caught many off guard, especially considering the timing just before an expected bullish trend. Despite differing opinions within the crypto community, some analysts view this downturn as a necessary extension of the correction phase that could pave the way for a more sustainable rally.

Notable cryptocurrencies like TON, NOT, and JASMY demonstrated a resistance to the initial dip compared to other popular assets, suggesting possible overvaluation or abnormal trading volumes. However, even these resilient coins were affected by the subsequent dip, further reinforcing the expectation of a forthcoming price surge across various assets.

The market's response to the recent fluctuations reflects a mixture of uncertainty and optimism, highlighting the complexity and volatility of the cryptocurrency ecosystem. As the correction phase persists and ETF outflows continue to outweigh inflows, the market braces for potential shifts in value and investor sentiment.