Bitcoin Surges Above $63K as Institutions Flock to Bitcoin ETFs

Bitcoin (BTC) has edged higher above $63,000 on Tuesday, buoyed by increasing investor risk appetite. This uptick in price comes as institutions renewed their appetite for Bitcoin spot Exchange-Traded Funds (ETFs), with a total of $170 million in inflows recorded on Monday.

This influx of capital marks a significant turnaround from the previous week's outflows of roughly $265 million, suggesting that demand for US-listed ETFs may be increasing. As a result, the odds of an extended recovery in the crypto market have improved.

In contrast, Ethereum (ETH) and Ripple's (XRP) prices remain under pressure. ETH continues to trade below its supply range at $1,900, while XRP is constrained by the pivotal $1.10 level.