Bitcoin (BTC) climbed to a high of $94,416 early on Monday before erasing newfound gains and dropping under $90,000 support. Market movers and recent bullish developments, such as the United States (US) strategic reserve announcement, the upcoming crypto summit at the White House and BlackRock’s announcement regarding portfolio allocations, failed to catalyze a sustainable rally in Bitcoin.
Ripple (XRP) price retraced 9% to $2.7 on Monday after United States (US) President Donald Trump’s crypto strategic reserve announcement triggered a 40% upswing over the weekend. On-chain transaction flows and intense community debates around Ripple’s inclusion signal the potential for more volatility in the coming sessions.
Bitcoin (BTC) price corrects and trades slightly down near $92,000 at the time of writing on Monday after rallying nearly 10% the previous day. Despite the recovery during the weekend, investor sentiment remains weak as US spot Exchange Traded Funds (ETFs) recorded a $2.39 net outflow last week, signaling institutional demand weakness. QCP Capital’s report on Monday highlights that despite the encouraging recovery in risk assets on Sunday, BTC is not quite in the game yet.
