Bitcoin rebounded above the $63,000 mark on Tuesday as ETF inflows returned and large investors stepped in, helping improve market confidence following last week's sharp decline. The cryptocurrency was trading at the $63,240 mark.
In the past 24 hours, Bitcoin was up 0.77% and Ethereum rose 1.70% to trade at the $1,689 mark. Among the major altcoins, XRP, Solana, Hyperliquid, Dogecoin and Cardano gained up to 4.10%, whereas BNB and Tron were down 0.75% and 0.64%, respectively.
CoinSwitch Markets Desk said BTC climbed back above $63,000 after buying by large investors helped improve market confidence following last week's sharp decline. A major boost came from Strategy, which purchased 1,550 BTC worth about $101 million, easing concerns that its recent sale of 32 BTC signalled a change in its long-term commitment to BTC.
While the rebound is encouraging, investors are closely watching Bitcoin ETF flows, upcoming US inflation data, and the Federal Reserve's policy decision to assess whether the recovery can continue, CoinSwitch Markets Desk further said.
The global crypto market capitalisation edged down 0.13% to $2.16 trillion, according to CoinMarketCap. According to a monthly report by Binance, in May, the total cryptocurrency market capitalisation edged down 3.3% to $2.55 trillion.
Bitcoin bulls have yet again weakened ahead of a critical resistance zone, as the price remains below $63,000, said CoinDCX Research Team.
In the past week, Bitcoin and Ethereum were down 10.55% and 15.42%, respectively. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin, and Cardano fell up to 25.60%.
Vikram Subburaj, CEO, Giottus, said Bitcoin continues to trade under pressure after one of its sharpest corrections of the year, hovering around the $62,500–$63,000 region on June 9. The asset has regained some ground since last week’s sell-off. However, market sentiment remains cautious as prices continue to trade below the levels seen at the start of June.
Akshat Siddhant, Lead Quant Analyst, Mudrex, said Bitcoin is consolidating around the $62,500 level after failing to sustain a move above $64,000, with sellers continuing to cap upside momentum. While the broader trend remains weak, institutional interest appears to be returning.
Market perspective
Riya Sehgal, Research Analyst, Delta Exchange, said Bitcoin is trading around $62,800, while Ethereum is hovering near $1,660, as crypto markets attempt to stabilise after the sharp early-June correction. The latest bounce has been supported by easing geopolitical risk and improved ETF flows, with June 8 data showing $141.5 million of net inflows into spot Bitcoin ETFs and $37.7 million into spot Ethereum ETFs.
Avinash Shekhar, Co-Founder & CEO, Pi42, said Bitcoin’s move back above the $63,000–$64,000 range signals renewed confidence in the digital asset market and reflects improving sentiment across the broader crypto ecosystem. The asset’s ability to reclaim key price levels after a period of volatility indicates that investors continue to view Bitcoin as a long-term store of value and portfolio diversification tool.
WazirX Market Desk said in the past 24 hours, Bitcoin traded near $62,632, remaining below key moving averages as broader market sentiment stays cautious. Ethereum is trading around $1,667, holding above the important $1,600 support level. Low exchange reserves and recent accumulation signals have kept market attention on Ethereum despite recent volatility.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
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