CoinDesk
Bitcoin rose 1% to just above $84,200 on Tuesday, finding buyers near $82,500 as the 10-year Treasury yield held around 5.25%. Ether gained 2% to nearly $2,720, while ZEC fell 9% to about $1,423.
Why it matters
U.S. spot bitcoin ETFs took in about $31 million on Monday, and ether funds added about $17 million. SOL and XRP funds brought in a combined $17 million. The only U.S. ZEC fund recorded an $8 million outflow.
The rebound comes as a stronger U.S. dollar and uncertainty in equity markets weigh on sentiment. FxPro analyst Alex Kuptsikevich said the crypto market was attempting to recover from last week's lows near $2.83 trillion, but remained in a short-term downtrend below $2.90 trillion.
Market impact
Kuptsikevich said bitcoin found support near previous highs after cooling from its earlier momentum. He said sustained bullish sentiment could open a path to new multi-month highs above $87,000. Treasury yields, ETF flows and the $2.90 trillion market threshold remain key signals for whether the recovery can hold.
Frequently asked questions
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How much did U.S. spot bitcoin ETFs take in?
U.S. spot bitcoin ETFs recorded about $31 million in inflows on Monday.
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Which crypto funds recorded outflows?
The only U.S. ZEC fund recorded an outflow of about $8 million. It was the only fund group mentioned with net outflows.
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What market level does the analyst identify as a key threshold?
FxPro analyst Alex Kuptsikevich said the broader crypto market remained in a short-term downtrend below $2.90 trillion.
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What conditions could put Bitcoin on track for new multi-month highs?
Kuptsikevich said sustained bullish sentiment could open a path to new multi-month highs above $87,000.
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What macro factors are weighing on crypto sentiment?
The seed cites a strengthening U.S. dollar, uncertainty in equity markets and elevated Treasury yields as sources of unease.
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