Bitcoin Holds Above $63K as ETF Outflows Weigh on Crypto Market

Bitcoin (BTC) stabilized above $63,000 on Monday, gaining 0.8% since midnight UTC to trade around $63,637 as the cryptocurrency market tracked gains in U.S. equities. Nasdaq 100 futures rose 0.5% to their highest level since July 2, offering some support after Bitcoin’s losses last week.

Despite the rebound, spot Bitcoin ETF flows remain a concern. U.S. spot Bitcoin ETFs recorded $390 million in net outflows last week, their largest weekly withdrawal in six weeks and the first three-day outflow streak since late July. Ether (ETH) ETF activity was comparatively muted, while Solana (SOL) ETFs posted their strongest weekly inflows since mid-May.

Regulatory uncertainty is also influencing crypto market sentiment. Galaxy Research’s Alex Thorn lowered his estimated probability of the Clarity Act becoming law in 2026 to roughly 10%. Prediction markets put the odds near 17%. A Senate cloture vote is scheduled for Sept. 15, although another delay remains possible.

Crypto derivatives markets show relatively balanced Bitcoin positioning. BTC open interest has fallen to about 750,000 BTC from 760,000 BTC on Friday, while notional open interest stands near $48 billion. Thin trading liquidity relative to open positions could amplify price swings if widespread liquidations occur. XRP futures open interest, meanwhile, remains near 10-month highs.

Options markets show limited signs of stress. Bitcoin and Ether 30-day implied volatility remains near year-to-date lows, while short-dated options skew on Deribit favors calls, indicating a modest bullish bias ahead of the Federal Reserve minutes.

Among altcoins, Pump.fun’s PUMP gained 7.8% as trading volume jumped 55%, while Zcash (ZEC) climbed 4.7% to $508. MORPHO rose 5% and HYPE advanced 3.53%, while FET slipped 1.56%.

Broader crypto sentiment remains cautious. CoinMarketCap’s Altcoin Season Index recovered to 46/100 from 36 earlier in August, while its Fear and Greed Index stands at 38, signaling continued fear despite Monday’s market recovery.