With BTC trading sideways seeking support around the $58k mark, investors await crucial data this week to decide a direction to trade Bitcoin. US CPI data, which is expected tomorrow will likely have a large impact on the short-term price volatility in Bitcoin.
While Bitcoin and Ethereum ETFs had net outflows on Friday, Monday saw a net positive inflow in both BTC and ETH ETFs, with Bitcoin products witnessing a $14 million inflow, while Ethereum saw an inflow of $5 million.
On the other hand, Optimism, one of Ethereum’s largest layer 2s, announced plans to build a network of affiliated blockchains including Coinbase’s Base, and create a “superchain” similar to Polygon’s “AggLayer”. OP price did not move much by the news, and is up by 2.4% in the last 24 hours.
