Illustration of Bitcoin price recovering on a financial chart from $59k to $63k.
Image generated by AI

Bitcoin recovers above $63,000 after dipping near $59,000

Reported by AI Image generated by AI

Bitcoin has rebounded to around $63,000 following a drop below $60,000 earlier this week. A Standard Chartered analyst has declared the market bottom at $59,000, citing easing ETF selling pressure and potential catalysts including the SpaceX IPO and a possible US-Iran deal.

Hyperliquid ETFs have drawn in 172 million dollars since their launch. This comes as the HYPE token reached an all-time high. Meanwhile, U.S. spot Bitcoin ETFs have seen outflows of nearly 5.6 billion dollars over the same period.

Reported by AI

Three US spot HYPE ETFs recorded $161 million in net inflows one month after THYP launched on Nasdaq. The inflows occurred amid restricted direct access for US investors to the Hyperliquid platform.

Spot Bitcoin ETFs have recorded a streak of outflows lasting ten straight days. The funds have shed nearly $3 billion during this period. An analyst describes the trend as a potential contrarian indicator.

Reported by AI

U.S. spot bitcoin ETFs have seen nine straight days of net outflows, the longest such streak since the funds launched in January 2024. Investors withdrew about $2.8 billion over the period, with $1.3 billion exiting this week alone.

Rising US Treasury yields reached 5.18 percent on May 20, pressuring Bitcoin prices below $80,000. Spot Bitcoin ETFs recorded net outflows of about 14,000 BTC in the latest week.

Reported by AI

XRP-linked investment products attracted roughly $42 million in net inflows over the past week. This occurred even as U.S. spot bitcoin ETFs lost more than $1.4 billion and ether funds also shed assets. On-chain data showed a one-day spike of about 4,300 new XRP wallets.

 

 

 

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