Bitcoin Slides Below $63,000 as ETF Outflows Return

The cryptocurrency market remains weak on Monday, with Bitcoin (BTC) falling below $63,000. This decline comes after a 2.8% drop in the previous week. Institutional demand is showing cautious signs as US-listed BTC spot Exchange Traded Funds (ETFs) recorded a net outflow last week, ending three weeks of positive flows.

The potential for Coldcard wallet attacks has added uncertainty to the market, with nearly 389 BTC moved. This has raised fears of selling pressure on Bitcoin's outlook.

Shiba Inu (SHIB) also declined on Monday, down nearly 2% after two consecutive days of recovery. Despite an 83 million SHIB token burn on Sunday, declining futures Open Interest and the funding rate imply potential downside for SHIB.