Bitcoin drops below $63,000 amid Mideast tensions, Ethereum near ₹1.8L
Business
Bitcoin just dropped below $63,000, its lowest point since early August. The slide comes as tensions in the Middle East and weaker US spot Bitcoin ETF flows put pressure on the crypto market.
Ethereum took a hit too, hovering near ₹1.8 lakh.
US spot Bitcoin ETFs $390 million outflows
Analysts point to cautious investors and a dip in big-money interest, especially ahead of some important Federal Reserve updates this week.
This week's US spot Bitcoin ETFs saw $390 million in net outflows, undoing gains from earlier inflows.
Experts say if Bitcoin can hold above $61,000 and bounce back to around $64,000 to $66,000, there's hope for a rebound, but for now, even major altcoins like Solana and Dogecoin are seeing mixed action.