September turbulence wiped out over $1.6 billion in crypto.

The cryptocurrency market has had an extraordinary year, with top cryptos like Bitcoin ( BTC -3.66% ) and Ethereum ( ETH -6.27% ) setting new all-time highs. That upward trend has stalled recently. As I write this (September 25), Bitcoin has fallen 5% in the last week, Ethereum is down 13% and XRP ( XRP -7.29% ) has shed over 9% over the same time period.

What's behind this lackluster performance? And will so-called Uptober -- a term based on data that shows prices often go up in October -- turn the crypto tides? Let's dive in to learn more about three headwinds facing cryptocurrencies right now.

1. Money is flowing out of crypto ETFs

Crypto often suffers from a 'buy the rumor, sell the news' syndrome

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