Institutional Demand Lifts Crypto Market Despite Price Dip

Cryptocurrency prices took a hit on Monday, with Bitcoin (BTC) hovering below $83,000. Ethereum (ETH) and XRP also experienced weakness as sellers returned, pushing their prices below $2,650 and $1.50 respectively.

Despite this short-term dip, strong institutional demand for crypto ETFs continues to drive the market. Spot Bitcoin ETFs attracted a significant $2.4 billion in inflows last week, with cumulative inflows rising to around $58 billion.

The return of institutional interest in XRP funds is also noteworthy, with 11 consecutive weeks of inflows amounting to $1.8 billion. This surge in demand underscores the growing appeal of cryptocurrencies for cross-border transactions.