Crypto Market Stabilizes as Bitcoin Holds Above $63,000

The cryptocurrency market has stabilized on Monday, with Bitcoin holding above $63,000 and Ethereum approaching $1,900. However, spot Exchange-Traded Funds (ETFs) for these assets have recorded outflows, totaling $390 million for Bitcoin and $2.26 million for Ethereum last week.

Despite the outflows, cumulative inflows remain positive for both assets, with net assets at $76.61 billion for Bitcoin and $10.52 billion for Ethereum. This suggests investors hold a long-term constructive outlook on these cryptocurrencies.

Ripple's spot ETFs have retained a steady bullish streak, with mild inflows of $2.25 million recorded last week. This marks the fifth consecutive week of inflows, underpinning risk-on sentiment.

According to technical analysis, Bitcoin is holding key support but remains capped below the 50-day EMA at $64,317. Ethereum and XRP are also showing mild recovery momentum, with Ethereum trading above its 50-day EMA and XRP sitting on top of the critical $1.00 support level.