Investing.com-- Bitcoin price rose marginally on Monday after rebounding out of bear market territory through the weekend, although further gains remained uncertain amid increased speculation over U.S. interest rate cuts.data, was the biggest benefactor of Bitcoin over the weekend. This helped the token recover from bear market territory after it sank to about $59,000 last week, about 22% below a record high hit in March.
Near-term gains in Bitcoin were held back by anticipation of more cues on U.S. rates, specifically from a string of Fed officials set to speak in the coming days. Capital flows into Bitcoin investment products, specifically the spot exchange-traded funds approved earlier this year, were seen slowing substantially over the past month. Bitcoin ETFs saw capital outflows for the past three weeks.But Bitcoin remained the sole driver of crypto valuations, with the token accounting for nearly 55% of overall crypto valuation.
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