The world’s largest cryptocurrency rose 0.8%—to $63,561.5—as of 09:27 Moscow time, after falling nearly 3% last week, according to investing.com.
Heightened risk aversion, driven by the ongoing standoff between the U.S. and Iran in the Strait of Hormuz—which continues to push oil prices higher—is limiting interest in speculative assets, including cryptocurrencies.
The ongoing outflow of capital from major spot Bitcoin ETFs is also putting pressure on Bitcoin, which continues to trade nearly 50% below its record high set in October.
Caution ahead of this week’s White House meeting with leading crypto industry representatives is also holding back the cryptocurrency market.
Trump to Meet with Crypto Market Leaders at the White House — Coindesk
According to Coindesk, President Donald Trump plans to attend a meeting of his administration’s new innovation committee at the White House on Wednesday.
The meeting is expected to be attended by a number of CEOs of crypto companies and leaders of prediction markets, as well as representatives from traditional finance and the artificial intelligence sector.
Wednesday’s meeting will serve as a preliminary step ahead of a session of the Commodity Futures Trading Commission (CFTC)—which oversees the innovation committee—scheduled for Thursday.
The CFTC is expected to discuss additional measures to regulate cryptocurrencies—amid ongoing disagreements among lawmakers over the passage of the long-delayed Clarity Act.
Bitcoin ETFs See Significant Weekly Outflows
According to data from aggregator SoSoValue, outflows from spot Bitcoin ETFs totaled nearly $390 million last week.
This marks the worst outflow since early July, coinciding with a nearly 3% drop in the price of Bitcoin.
Bitcoin and the cryptocurrency market as a whole lagged behind the rally in tech and artificial intelligence stocks last week—sentiment in this sector was buoyed by positive earnings reports from several chipmakers.
Cryptocurrency Prices Today: Altcoins Rebound After a Week of Losses
The cryptocurrency market as a whole rose on Monday, tracking Bitcoin’s recovery from last week’s losses.
Ethereum, the world’s second-largest cryptocurrency by market capitalization, rose 1.2% to $1,903.0 after falling 1.8% last week.
XRP and BNB rose slightly, as did Solana and Cardano.
Meme coins Dogecoin and $TRUMP rose 0.9% and 1%, respectively.
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