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Bitcoin Trades Above $84,000 Despite Spot ETF Outflows and Falling Oil Prices
Bitcoin traded back above $84,000 after briefly falling to around $83,500 earlier on Monday. The recovery broadened across other major digital assets, with nine of the top ten cryptocurrencies posting gains over the previous 24 hours. Avalanche led the broader advance with a 5.1% rise to $10.91, while Chainlink gained 2.4% to reach $13.35. Ether and XRP also experienced buying interest, alongside minor advances in Solana, Dogecoin, and Cardano. In energy markets, West Texas Intermediate crude oil futures fell 1.8% to $90.28. The crypto market rebound occurred despite United States spot Bitcoin exchange-traded funds recording $681 million in net outflows the prior week. Data from SoSoValue indicated that most of these ETF outflows took place on Wednesday and Thursday. Analysts highlighted $82,000 as critical support for Bitcoin ahead of upcoming United States inflation data.