In the last week of June, the encryption market was again under pressure. Bitcoin once fell by $60,000, and then there was a buy-in. The market has been largely driven by macro-factors rather than by a chain or project-level emergency.

The latest data show that Bitcoin reported US$ 59,873, ITA US$ 1,564, XRP US$ 1.04 and Solana US$ 70.37. Dogecoin reported 0.073 dollars.

High interest rate expected to suppress risk assets

Behind the fall was the expected rise in the market to maintain high interest rates in the United States, the strengthening of the United States dollar, the continued outflow of spot ETF and the centralization of derivatives markets to leverage. When multiple factors are added, the encrypted asset as a whole is down.

Volatility in derivatives markets further exacerbated the decline. Over the past week, multiple liquidations have exceeded $1 billion, indicating that high-leverage positions have been rapidly squeezed out of the price fall.

XRP versus Solana

In terms of the performance of major assets, the ETA was weaker than the large disk, falling by 9.84 per cent to $1,564 a week. By contrast, the XRP fell less than most mainstream currency, reporting $1.04 a weekend. The report mentions that the growth in the availability of ETF products has led to institutional interest that has underpinned the XRP.

The overall performance was also relatively stable, reflecting the continued confidence of the market in its ecological development progress. Dogecoin fell by 11.97 per cent to 0.073 dollars in a week, continuing its rapid reaction to changing moods in the market.

Pi42 Avinash Shekhar, co-founder and chief executive officer, said to Coinpedia that what is more noteworthy this week is not the drop in bitcoin per se, but that it is being supported near areas of historical long-term financial focus.

ETF financial flows continue to be under pressure

The financial dimension remains an important variable in the short-term direction of the market. Reports indicate that Bitcoin ETF net outflows of $1.79 billion per week, the second largest single week since the launch of the product.

At the same time, according to chain-tracked data, the unrealized losses of Michael Saylor ' s holdout related to Tom Lee amounted to $24.5 billion this week. This data reflects the fact that, at the market ' s rapid turnaround stage, large holdings were equally subject to significant book pressure.

Shekhar believes that market funds are now becoming more selective. Instead of simultaneously flowing to the entire market, as in previous cycles, funds are more focused on liquidity, institutional participation and ecological fundamentals.

Next, the direction of encrypted assets will continue to depend on institutional flows, macrodata and monetary policy signals. If ETF flows warm, inflationary pressures are eased and global liquidity improves, the market may be able to re-engage. Until then, the price rate would remain volatile at the interregional level and be more sensitive to economic data.