Bitcoin Stabilizes Above $63,000 as Equities Bounce

Bitcoin's price has stabilized above $63,000, climbing by 0.8% since midnight UTC on Monday. This recovery is in line with the performance of U.S. equities, with Nasdaq 100 index futures up 0.5% to their highest point since July 2.

Last week's net outflow from spot exchange-traded funds (ETFs) worth $390 million remains a concern for bulls. This is the largest weekly withdrawal from U.S. spot bitcoin products in six weeks, and any positive reading will need to take this into account.

Despite this, some coins are bucking the trend. Solana (SOL) ETFs have seen their strongest weekly inflows since mid-May, while privacy-focused Zcash (ZEC) has gained 4.7% in value since midnight at $508.