Spot Bitcoin ETF net inflows reached a monthly high of over $526 million on Monday, marking the largest single-day reading since September 22. However, the influx failed to sustain upward momentum, and Bitcoin declined by nearly $2,000 from that point, currently struggling to remain above $81,000.
Bitcoin's recent price movement has been volatile, driven partly by US economic data. After CPI and PPI releases on Wednesday and Thursday confirmed persistent inflation, both metrics came in higher than expected, pushing Bitcoin down from $84,000 to under $80,000 at its monthly low. The asset rebounded to over $82,000 by Friday's close but experienced continued pressure through the weekend, including a flash crash to under $81,000 on Saturday evening.
Expectations of significant losses on Monday did not materialize as anticipated. Bitcoin dipped to $80,600 on Sunday evening before jumping to $83,000 on Monday, possibly driven by the substantial ETF inflows. Despite this spike, the cryptocurrency failed to consolidate gains. Bitcoin's market cap has declined to $1.630 trillion, while its dominance over altcoins remains just above 60%.
Altcoins experienced widespread declines. BTW dropped 33.5% in the past 24 hours, erasing recent gains and moving toward $1.50. RAIN plunged over 10% to $0.0082, while NEAR declined 7% to $4.7. Ethereum fell over 2% below the $2,400 support level, XRP dropped 1.6% below $1.30, and SOL, ZEC, HYPE, DOGE, LINK, and ADA all posted losses. XMR gained 3.6% to move above $610. The total cryptocurrency market cap declined by over 1.3% to $2.720 trillion.
