Oct 9, 04:37 AM

Bitcoin Dips 0.89% to $62K Amid Middle East Tensions, $137.3M in ETF Inflows Support $2.28T Market Cap

Bitcoin (BTC) experienced a slight decline of 0.89% on Monday, trading at approximately $62,000. This dip is attributed to global market uncertainties stemming from tensions in the Middle East and a hawkish stance from the Federal Reserve. However, institutional demand remains robust, as evidenced by $137.3 million in ETF inflows that have helped stabilize BTC's price. Additionally, the cryptocurrency market overall shows mixed movements, with Ethereum (ETH) holding steady around $2,300 and Standard Chartered projecting a potential rise to $7,000. The total market capitalization of cryptocurrencies stands at $2.28 trillion, with Bitcoin dominating the market at 53.80%. The Fear & Greed Index currently indicates a state of fear at 49.