Crypto Markets Wake Up With Bitcoin Back Above $63K and RAIN, ZEC, HYPE Surging
TL;DR
- The crypto market opens the week in the green, as Bitcoin recovered the $63,000 level after hitting ten-day lows last Friday.
- Spot BTC ETFs in the U.S. recorded net outflows of $390 million last week, the largest weekly withdrawal in six weeks.
- RAIN and ZEC lead gains among large-cap altcoins, with increases of around 4%. HYPE rose 3.5% to $59.2.
The crypto market returns to green at the start of the week with Bitcoin trading around $63,600, a gain of nearly 1% that allows it to consolidate above the $63,000 threshold after a week dominated by sellers. The move partly mirrors the rebound in Nasdaq 100 futures, which rose 0.5% to their highest level since July 2, suggesting the world’s largest cryptocurrency remains aligned with equity market dynamics.
The picture from the previous week was discouraging: Bitcoin attempted to hold near $65,000 last Monday but was rejected at $65,400 and gradually lost ground until marking a ten-day low of $62,500 on Friday. The weekend passed without significant changes, until Monday morning brought a nearly $1,000 jump that pushed it to $63,600.
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