Bitcoin Breaks Above $63,000 as Investor Risk Appetite Increases

Bitcoin's price broke above $63,000 on Tuesday as investor risk appetite increased. In contrast, Ethereum and XRP struggled to gain traction. The divergence in ETF flows may be a contributing factor.

The Bitcoin spot Exchange-Traded Funds (ETFs) saw inflows of $170 million on Monday, following outflows of $265 million the previous day. This surge in demand could signal an extended recovery for Bitcoin's price. In contrast, Ethereum's ETF experienced renewed outflows of approximately $11.42 million, snapping a two-day streak of inflows.

XRP spot ETFs, however, saw continued inflows totaling $1.15 million on Monday, marking the fourth consecutive day of inflows. The cumulative inflows for XRP ETFs remain at $1.15 billion with net assets under management standing at $1.01 billion.