Bitcoin (BTC) extends its decline, trading below $63,000 at the time of writing on Monday after falling more than 2.8% in the previous week. Institutional demand shows cautious signs, with US-listed BTC spot Exchange Traded Funds (ETFs) recording a mild net outflow last week, breaking three weeks of positive flows. Meanwhile, concerns over potential Coldcard wallet attacks, involving the movement of nearly 389 BTC, add another layer of uncertainty and could further pressure the Crypto King’s outlook.
Shiba Inu (SHIB) price is down nearly 2% on Monday, after two consecutive days of recovery, extending last week’s 7% decline. Declining SHIB futures Open Interest and the funding rate offset the 83 million SHIB tokens burned on Sunday, implying potential downside. The technical outlook for SHIB is mixed, with momentum maintaining a recovering tone.
The cryptocurrency market remains weak on Monday, with Bitcoin (BTC) falling toward the nearest $62,000. Ethereum (ETH) and Ripple (XRP) reflect the sell-off across altcoins, edging lower toward $1,800 and $1.05, respectively.
Risk appetite remains subdued, as the Fear & Greed Index holds steady at 28, deep within Fear territory. Persistent risk-off sentiment is likely to cap potential upside and prompt continued investor selling.
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