BTC ETFs lose $457M after DeepSeek’s market entry – Details – BitRss

• DeepSeek’s launch caused significant crypto market volatility, with $534 million in ETP ($0.00) outflows.
• XRP ($3.09) showed resilience, attracting $2.1 million in inflows during the market downturn.

The launch of DeepSeek has sent shockwaves through the cryptocurrency market, triggering a sharp decline across various sectors.

Crypto mining stocks took a hit, while the broader market experienced intense volatility, leading to a widespread downturn.

Even spot Bitcoin [BTC] and Ethereum [ETH] ETFs, which saw $1.9 billion in inflows during the first week of Donald Trump’s second term, were not spared.

The turbulence caused by DeepSeek led to a reversal. Spot BTC ETFs witnessed $457.6 million in outflows, and spot ETH ETFs lost $136.2 million, according to Farside Investors.

Additionally, the ETP market experienced the same effect.

Remarking on the same,