The past week in crypto was anything but quiet. Bitcoin slid below $110,000 after a flash crash and weekend sell-off, dragging Ethereum under $4,000 and wiping out over $1.5 billion in leveraged positions.
The broader crypto market lost its footing, slipping under the $4 trillion mark as ETF flows softened, highlighted by a record $795.6 million outflow from U.S. Ethereum spot ETFs.
Meanwhile, the Bitcoin Fear & Greed Index sank to 28, underscoring a shift to fear just weeks after BTC’s $124K peak. Beyond the sell-off, Binance Coin (BNB) reached $1,000, sparking speculation about a $2,000 target, while debates over SEC crypto regulation and ecosystem upgrades dominated headlines across the industry.
Scroll down for the full weekly crypto market news recap and what it means for traders and investors.
SEC Approves First Index-Based U.S. Crypto ETF
The SEC has approved Hashdex’s Nasdaq Crypto Index US ETF under new generic listing rules, marking a shift toward streamlined approvals for diversified crypto funds. Unlike single-asset Bitcoin ETFs, the product tracks a basket of liquid tokens, offering investors regulated, risk-spread exposure to digital assets.
Crypto Crash Triggers $3.4B in Liquidations
The crypto market slid hard this week, with Bitcoin sinking under $110K and Ethereum dipping below $4,300. More than $3.45B in leveraged positions were wiped out, marking the biggest flush-out in months. Analysts cite uncertainty from the Fed, profit-taking, and a sharp shift in sentiment as key drivers.
Bitwise Files for Spot Hyperliquid ETF
Bitwise has filed an S-1 with the SEC for the first-ever spot ETF tied to Hyperliquid’s HYPE token. The fund would hold physical HYPE through Coinbase Custody, giving investors regulated exposure to the fast-growing DeFi protocol. If approved, it could mark a milestone for mid-cap crypto ETFs, expanding beyond Bitcoin and Ethereum.
Trump Coin Crashes 86% as Whales Rotate Into Pudgy Pandas
Trump Coin has plunged from $50 in January to just $7, with whales dumping millions of tokens as supply dilution accelerates. Exchange balances hit record highs, while interest shifts to Pudgy Pandas, a new meme token that has raised $4M and is gaining traction in Asia and Europe.
European Banks Unite on MiCA-Compliant Euro Stablecoin
Nine leading European banks are collaborating to launch a fully euro-backed stablecoin under the MiCA rules, aiming to challenge the dominance of the US dollar in the crypto and payments sectors. With USDT and USDC still dominating global flows, the project aims to enhance Europe’s digital currency relevance and reduce its reliance on dollar liquidity.
Avalanche Rally Extends as Metrics Soar
Avalanche (AVAX) has climbed 133% from its yearly lows, boosted by surging network activity and institutional interest. Transactions jumped 234% in 30 days, with DeFi TVL topping $3.3B and RWA assets nearing $400M. Analysts see further upside as ETFs and treasury buys add fuel to the bullish momentum.
Tether Eyes $500B Valuation With Record Fundraising Bid
Tether, the issuer of USDT, is exploring a $15–20 billion raise through a private placement, which would value the firm near $500 billion, putting it in league with global tech giants. The move follows blockbuster $4.9 billion quarterly profits and reserves topping $ 162 billion. While investor skepticism lingers, Tether’s push underscores stablecoins’ growing role in mainstream finance.
Mantle Surges on Bybit Integration, ZK Rollup Upgrade
Mantle (MNT) jumped 12% to $1.81 as daily volumes spiked past $620M, fueled by Bybit integration that lets users pay fees with discounts and gain VIP perks. A recent ZK Rollup upgrade, which reduced withdrawals from seven days to one hour, further boosted sentiment, positioning Mantle as the leading ZK-powered rollup with a $2.7B TVL.
BNB Bulls Target $2,000 After Fresh ATH
Binance Coin (BNB) broke above $1,000 for the first time, hitting a record $1,080 before easing near $1,035. Analysts cite network upgrades, token burns, and surging on-chain activity as key drivers of the growth. With RSI signaling short-term fatigue, traders still see $2,000 in play for 2025.
