The top two digital assets Bitcoin and Ethereum are set to close one of their worst months in years this February, with both experiencing double-digit losses.
Data from Coinglass shows that Bitcoin has dropped by around 20% this month, marking its steepest decline since June 2022, when it plunged by more than 30%.
Meanwhile, Ethereum has fared even worse, tumbling by 32%. The last time ETH faced such a sharp drop was also in June 2022, when it fell by over 40%.
Adding to the sell-off, spot Bitcoin and Ethereum exchange-traded funds (ETFs) have seen outflows exceeding $3.5 billion this month. This marks a sharp reversal from the substantial inflows these funds recorded in previous months following Trump’s electoral victory.
Meanwhile, the ongoing market slump can be linked to the growing economic concerns raised by President Donald Trump’s tariff policies. His administration’s approach to trade has fueled fears of financial instability, prompting investors to shift from riskier assets like digital assets to safer investments such as the US Dollar.
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