Bitcoin rises to the $63,000 level as ETF inflows turn positive [Crypto Briefing]

[Financial News] Bitcoin climbed to the $63,000 level on the 6th. Institutional funds also turned to net inflows for the first time in 11 trading days.
According to global crypto data platform CoinMarketCap, Bitcoin was trading at around $63,000 as of 10:15 a.m., up 1.23% from the previous day on a 24-hour basis. Over the past week, Bitcoin has gained 7.33%.
Bitcoin is trading at around 96 million won in the Korean won market. Based on global crypto market comparison platform Cryprice, the Korea premium stands at -1.51%.
The shift in institutional funds to net inflows is seen as a key reason for the rise. According to CoinMarketCap, institutions had posted net selling in Bitcoin exchange-traded funds (ETFs) for 10 consecutive trading days from the 17th of last month through the 1st, but on the 2nd they bought a net $203.44 million.
Lee Jun-ho, a researcher at Hana Securities, said, "The digital asset market has recently shown a modest rebound." He added, "Along with expectations for interest rate cuts amid slowing U.S. employment, institutional and industry progress is being confirmed, helping defend a psychological resistance level."
The Crypto Fear and Greed Index, provided by CoinMarketCap, stood at 29 on the day, indicating "fear." The index ranges from 0 to 100. Values closer to 0 indicate "extreme fear," while those closer to 100 indicate "extreme greed."
At the same time, Ethereum was trading at around $1,790, up 1.13% from the previous day. Ripple was trading at around $1.15, up 0.85%.

yimsh0214@fnnews.com Lim Sang-hyuk Reporter