Bitcoin Holds Above $65K Amid FOMC Nerves and ETF Outflows

Bitcoin traded near $65,000 on Monday as investors await this week's FOMC meeting amid ETF outflows and geopolitical tensions. The cryptocurrency was valued at around $65,336.

In the past 24 hours, Bitcoin gained 1.5%, while Ethereum rose 4.5%. Major altcoins such as BNB, XRP, Solana, Tron, Hyperliquid, and Cardano saw increases of up to 2%, whereas Dogecoin fell by 1%.

Akshat Siddhant, Lead quant analyst at Mudrex, stated that 'Bitcoin is showing signs of recovery, trading around the $65,000 mark after successfully holding support above $63,000. However, the rebound remains weak as US spot Bitcoin ETFs ended the week with net outflows, limiting upside momentum.'

The global crypto market capitalisation rose 1.5% to $2.24 trillion according to CoinMarketCap. The fear and greed index improved slightly to 37, but market sentiments remain under fear, said CoinDCX Research Team.