Crypto Market Maintains Elevated Levels Amid ETF Inflows

The cryptocurrency market has been maintaining an elevated level, with Bitcoin (BTC) trading around $85,798, nearly 49% above its year low of $57,756. Ethereum (ETH) and Ripple (XRP) are also in a robust bullish outlook, trading above $2,700 and $1.51 respectively.

Despite a minor correction from Monday's gains, the market sentiment remains strong, with the Crypto Fear & Greed Index edging higher to 78 on Monday, up from 70 the previous day and 66 the day before. This suggests that the crypto market's uptrend is overextended, and a correction could be nigh.

The inflows into Bitcoin ETFs extended on Monday, with $999 million in new investment, up from $433 million last Friday. Cumulative inflows currently stand at approximately $56 billion, while net assets under management average $110 billion. Ethereum spot ETFs also attracted $270 million in inflows on Monday, up from $144 million last Friday.