Wed Oct 02 17:14:39 UTC 2024: ## Crypto Market Rocked by Middle East Tensions, BTC ETFs See Outflows
**New York, October 26, 2024** – The cryptocurrency market experienced a tumultuous week as rising tensions in the Middle East triggered a sell-off, leading to $500 million in liquidations. Bitcoin (BTC) ETFs saw their largest outflows in a month, with Fidelity’s Ethereum (ETH) ETF recording its second-highest outflow ever.
Despite the broader market downturn, SUI, a layer-1 blockchain, hit six-month highs after its bridge went live on the mainnet. Meanwhile, Wormhole, a cross-chain bridge, saw significant gains following its listing on Upbit, a South Korean cryptocurrency exchange. Hashdex, a leading cryptocurrency asset manager, announced plans to launch an XRP ETF.
The bearish sentiment in the market was further amplified by news that Bitcoin miners experienced record low profits in September. Additionally, crypto hackers stole a staggering $750 million in the third quarter of 2024.
In other news, Telegram revealed that it has been disclosing user IP addresses to authorities since 2018, raising concerns about privacy and user data protection.
Despite the volatility, the crypto market continues to evolve, with new projects emerging and existing ones expanding their reach. Stay tuned for further updates on this dynamic landscape.
First Piper 