Crypto recovery uncertain amid looming IPOs, ETF outflows

Bitcoin's recent recovery above $63,000 is met with caution due to significant ETF outflows and subdued trading volume, suggesting a steady exodus rather than panic selling. This trend raises questions about the sustainability of the current bounce. The upcoming large-cap IPOs of SpaceX and Anthropic could further drain liquidity from crypto markets. Additionally, anticipated higher U.S. inflation data may introduce broader market volatility, potentially impacting Bitcoin's trajectory. A substantial resurgence in ETF demand is likely necessary for a convincing upward price movement, but this appears improbable given the current market conditions and upcoming economic events.