QuantCapEther led a modest recovery among major tokens, while ZEC extended its slide and its U.S. fund posted the only outflow among crypto ETFs on Monday.
Bitcoin rebounds above $84,000 as spot ETFs add $31 million, ZEC slides 9%
Bitcoin rose 1% to just above $84,200 on Tuesday, finding buyers on dips to about $82,500 as the 10-year Treasury yield held near 5.25% after Monday's climb to its highest level since 2007, CoinDesk data show.
Ether led the majors, up 2% to nearly $2,720. DOGE added 3% and XRP 2%, while BNB, SOL and TRX each gained under 1%. HYPE slipped 1%. ZEC was the outlier, down 9% to about $1,423.
U.S. spot bitcoin ETFs took in about $31 million on Monday and ether funds about $17 million, according to SoSoValue, with SOL and XRP funds adding a combined $17 million. The lone U.S. ZEC fund posted the only net outflow, losing about $8 million.
"At the $2.87T level, cryptocurrencies are cautiously forming a rebound from last week's lows near $2.83T. However, as long as the market remains below $2.90T, it is technically in a short-term downtrend. The strengthening US dollar and uncertainty in the equity markets are adding to the unease," Alex Kuptsikevich, chief market analyst at FxPro, said in an email to CoinDesk.
"The short-term working scenario is that BTC has found support on a pullback to previous highs, having cooled off sufficiently following the growth momentum. A sustained bullish sentiment paves the way for new multi-month highs above $87K," he added.
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The Definitive Stablecoin Landscape Series: Asia Pacific
The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Bitcoin is on track to shatter a major decade-long streak as September gains surge
Analysts see 10-year Treasury yield hitting 6%. Bitcoin bulls shouldn't panic
Anthropic plans to spend $518 billion on AI infrastructure. Pre-IPO perps barely blink.