Ether shed 0.49 per cent to $1,627.26, losing 1.58 per cent over the past seven days

Bitcoin dropped on Tuesday to trade below the weekend’s resistance level of $26,000. Ether slipped to near the $1,600 mark, while other crypto currencies traded mixed. XRP posted the biggest gains while Solana led the decliners. Digital asset investment products experienced a minor outflow last week along with a jump in trading volumes, suggesting mixed sentiment among institutional investors.

Bitcoin shed 0.57 per cent during the past 24 hours to $25,804.63 for a weekly loss of 1.15 per cent, according to CoinMarketCap data. The token had been trading in the $26,000 range since Friday. It briefly surpassed $28,000 last Tuesday as an apparent victory for Grayscale Investment against the U.S. SEC bolstered sentiment. That optimism has now faded.

Ether shed 0.49 per cent to $1,627.26, losing 1.58 per cent over the past seven days.

The crypto market is suffering from regulatory uncertainties in the U.S., commented Samer Hasn, market analyst for XS.com. He also noted the impact of big transactions on the market, including a $213 million XRP transaction and a $37 million Shiba Inu transaction recorded over the weekend.

Although the reasons behind the series of large transfers that we are seeing in the crypto currency market are not yet totally clear, I believe that they may continue to fuel a state of expectation and caution in the markets, particularly because these transfers come amid weak sentiment among market participants, with the continuing battle in the judicial arena in the US, Hasn added.

In the meantime, Binance’s global head of product Mayur Kamat resigned from the firm, Reuters reported on Monday. The world’s biggest crypto exchange faces lawsuits from the U.S. Securities and Exchange Commission and CFTC, as well as a probe from the U.S. Department of Justice.

Most other leading crypto currencies traded mixed over the past 24 hours, with movement within the 1 per cent range across the board. XRP led the winners with a 0.61 per cent gain to $0.5082, but stayed 3.01 per cent lower for the week.