The cryptocurrency market is experiencing a significant slowdown, with a total volume drop to $63.63 billion and a 17% decline in Total Value Locked (TVL) in just one day. The overall market value has decreased to $2.3 trillion, and the fear and greed index has shifted away from the bulls.

The prices of leading cryptocurrencies like Bitcoin and Ethereum have fallen, with Bitcoin trading at $62,309.95 after a 2% drop and Ethereum at $2,999.41 after a 2.2% decrease. The market has been moving sideways for weeks, with only minor increases in recent days. Regulatory actions, exchange exits, and declining investor sentiment have contributed to the bearish conditions.

The exit of Bitcoin Futures ETFs and exchange inflows has further weakened the market, with a fourth consecutive week of increasing exits resulting in a $251 million drop in Assets Under Management (AUM). Despite the launch of Hong Kong Bitcoin and Ethereum ETFs, exits continued, with $284 million withdrawn from Bitcoin funds.

However, Ethereum saw a record entry of $30 million, totaling $307 million in the first week following the ETF launch. The exchange entry has receded to its lowest level in a decade, similar to 2015, with long-term holders halting Bitcoin distribution to accumulate it again.