Bitcoin Bounces Above $83,000, XRP, ETH Claw Back Overnight Losses

Bitcoin climbed back above $83,000 Tuesday, recovering from an overnight dip below $81,000 as broader risk assets wobbled heading into Thursday’s U.S. inflation report.

How the Majors Are Trading

ETF Flows Show a Split Picture

Bitcoin spot ETFs saw $65.4 million in net outflows Monday, entirely from BlackRock’s IBIT (NASDAQ:IBIT), reversing Friday’s inflow according to SoSoValue. 

Ethereum ETFs fared worse, losing $85.4 million and extending their outflow streak to 10 straight sessions.

Meanwhile, XRP’s ETFs posted zero net flows Monday after pulling in $11.31 million the week before, extending a streak of 13 straight weeks without a net outflow even as Bitcoin and Ethereum funds bled money.

Why the Dip Happened in the First Place

CoinDesk reported that crypto’s early weakness followed a broader selloff outside the asset class, with South Korea’s KOSPI tumbling more than 6% intraday as Samsung and SK Hynix both fell roughly 8% on AI valuation concerns and Chinese competition.

Nasdaq futures fell another 0.6%, extending Monday’s decline.

Geopolitical risk added to the pressure, with Brent crude holding near $106 a barrel after fresh attacks in Saudi Arabia and ongoing threats to shipping through the Strait of Hormuz.