Bitcoin holds near $64,000 despite ETF outflows; crypto market remains resilient
Bitcoin traded near the $64,000 mark despite ETF outflows. The crypto market remained resilient, although institutional demand remained inconsistent. The cryptocurrency was trading at $64,147
Bitcoin traded near the $64,000 mark despite ETF outflows. The crypto market remained resilient, although institutional demand remained inconsistent. The cryptocurrency was trading at $64,147 mark.In the past 24 hours, Bitcoin was up 0.2% and Ethereum was up 1% to trade at $64,162 mark. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Cardano fell up to 2% whereas Dogecoin was up 0.4%. The global crypto market capitalisation was up 0.1% to $2 trillion, according to CoinMarketCap.Also Read |Mutual fund SIP stoppage ratio slows to 91% in June as new SIP registrations outpace closures Riya Sehgal, Research Analyst, Delta Exchange said Bitcoin is holding near the $64,000 region despite $95.3 million of net outflows from U.S. spot Bitcoin ETFs on July 9, while Ethereum ETFs recorded $52.2 million of outflows.Sehgal further said that technically, Bitcoin needs a sustained four-hour close above $64,000 to open the $65,000–$66,800 resistance zone, while a break below $62,300 could expose $61,200.
In the past week, Bitcoin and Ethereum were both up 3% respectively. Among the major altcoins, BNB and Tron were up 1% and 2% respectively. Among the major altcoins, XRP, Solana, Hyperliquid, Dogecoin, and Cardano fell up to 6%.Nischal Shetty, Founder, WazirX said crypto markets traded in a narrow range this week as Bitcoin recovered from the $60K zone to end near $64K, while Ethereum held around $1,770 with stronger momentum.Renewed spot ETF inflows, improving technical indicators, and rising futures activity supported sentiment, though traders continued watching key support and resistance levels, Shetty further said.Also Read | Why investors are pouring money into midcap and smallcap mutual funds againHarish Vatnani, Head of Trade, ZebPay said Bitcoin is still struggling to break above the $64,200 mark despite the recovery from the bottom zone.
The daily RSI sustaining above 50 level, indicating that the broader market sentiment is recovering. The crypto market liquidations total $153 million over the past 24 hours, Vatnani further said.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not
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