As the crypto market enters the final day of Eid al-Adha, a significant decline in altcoins has left investors sleepless. The longing for a Bitcoin and cryptocurrency surge like the one in March is palpable. However, the current situation is a far cry from those glory days. Bitcoin's recent spike to $64,060 was accompanied by a significant exit from Spot Bitcoin ETFs, totaling $152.42 million.

The leading Spot Bitcoin ETFs in exits were Fidelity's FBTC ETF and Grayscale's GBTC Bitcoin ETF, with outflows of $83 million and $62 million, respectively. Bitwise's BITB Bitcoin ETF also saw an exit of $7 million. These exits have raised concerns that a new bear season has begun, and the crypto market is bracing for impact.

The numbers are stark, with the total market value of altcoins (excluding Ethereum) plummeting from over $760 billion in March to $603 billion currently. This represents a significant loss of approximately $160 billion. While some hope for a new inflow of funds to revive altcoins, the current situation makes a rally seem unlikely.

The impact of Bitcoin ETF exits on the crypto market cannot be overstated. Fidelity's FBTC and Grayscale's GBTC lead the pack in exits, with other Bitcoin ETFs reporting minimal outflows. As the crypto market navigates these choppy waters, investors are left wondering if the recent declines signal a prolonged bear season.

In conclusion, the Bitcoin ETF exodus has sent shockwaves through the crypto market, leaving altcoins reeling. While some hope for a revival, the current situation makes it challenging to predict a rally. The crypto market will be watching closely for any signs of a turnaround, but for now, the bears seem to be in control.