The crypto market started September under pressure, with more than $369 million in leveraged positions wiped out as Bitcoin, Ethereum, Solana and XRP fell. The sell off came alongside rising oil prices, higher Treasury yields and growing expectations for tighter U.S. monetary policy.

At the same time, institutional flows told a different story. While U.S. spot Bitcoin ETFs recorded $236.46 million in net outflows on September 1, spot Ethereum, Solana and XRP ETFs attracted $10.95 million, $10.19 million and $14.38 million, respectively.

The divergence suggests that the broader market pullback has not completely erased institutional interest in major altcoins.

Crypto liquidations hit 85,000 traders

According to CoinGlass data cited in market…