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Investors pulled out funds from bitcoin and ether spot ETFs Tuesday as dwindling basis in the CME futures dented the appeal of carry trades.

The move higher was in line with a CoinDesk analysis on Tuesday, as a five-month low in a sentiment index and a large-scale liquidation event indicated assets were likely oversold and could see relief in the short term.

Bitcoin tumbled to a three-month low on Tuesday, continuing a slide from its record high set last month, as economic uncertainty weighs on investor sentiment. Monitor these crucial chart levels.

Lawmakers voted to quietly postpone the bill to a later date amid rising concerns about Bitcoin's price volatility.

The ultimate “Trump trade” has run into trouble.

Meanwhile, the S&P 500 was down 0.6% and the Nasdaq Composite was down 1.3%. The price of Bitcoin was down 7.8% over the previous 24 hours. Nvidia's fourth-quarter earnings release and conference call is also scheduled to take place after the market closes tomorrow and could have a substantial impact on equity and crypto valuations.

The global crypto market cap has dropped to $2.8 trillion, reflecting a 6.8% decrease.