The crypto market has shed more than $700 billion in 48 hours as major high-cap assets return to critical levels, with slowing Bitcoin ETF demand and heavy long liquidations adding to selling pressure. Santiment recorded $2.77 billion in net inflows between Sept. 17 and Sept. 27 across seven consecutive positive U.S. trading sessions, echoing August’s nine-day streak that attracted about $3.04 billion in BTC. But SoSoValue reported more than $23 million in Bitcoin ETF outflows, ending a seven-day run of inflows. The decline also reflects a broader risk-off environment: gold and silver fell 4% and 5%, the 10-year U.S. Treasury yield reached a 19-year high, and oil remained above $100 amid the U.S.-Iran standoff. If ETF inflows continue weakening, the correction could reflect fading speculative demand in addition to macro pressure and deleveraging.