Bitcoin Sinks 6.48% as Crypto Market Drops to $2.31 Trillion

Bitcoin slid 6.48% as the broader crypto market shed 5.46% in 24 hours, leaving total market value at $2.31 trillion, according to tokenpost.com. Spot Bitcoin ETFs bled $1.44 billion in outflows over the same stretch, a second signal pointing the same way as price.

The sell-off was not even. Bitcoin's drop outran the wider market's decline, so the coin took a heavier hit than the asset class it anchors. Money pulled out of spot Bitcoin products as prices fell, compounding the pressure rather than cushioning it.

Behind the slide: rising U.S. inflation and climbing Treasury yields. Together they revived fears that the Federal Reserve will hike rates again in December, pushing investors away from riskier holdings. Crypto sat squarely in that firing line, and the ETF withdrawals deepened the damage.

For now the picture is three losses stacked on one another: Bitcoin down 6.48%, the total crypto market down 5.46%, and spot Bitcoin ETFs short $1.44 billion. Each one fed the next as concern about inflation, yields and a possible December rate move kept risk appetite in check.