Bitcoin Recovers to $62,000 After Weekend Dip

Bitcoin, which had fallen to the $59,000 range over the weekend, rebounded by more than 3% in just one day, recovering to the $62,000 mark. However, it has not yet returned to last week's levels due to the outflow of institutional funds and a shift of investor capital to the stock market.

According to CoinMarketCap, a global cryptocurrency market site, Bitcoin was trading at $62,822, up 3.71% from the previous day as of 8 a.m. on June 8.

This marks a partial recovery compared to its drop to the $59,000 range on June 5, which was the first time Bitcoin had reached that level since the re-election of President Donald Trump in November 2024.

Most altcoins also showed signs of recovery. At the same time, Solana rose 7.55% to $66.33, while Ethereum increased by 7.18% to $1,670.68. Ripple (XRP) was recorded at $1.15, up 5.97%.

However, these altcoins have not yet regained their prices from June 5, when Solana was at $68.40, Ethereum at $1,767.12, and Ripple at $1.16.

Market analysts attribute the recent price adjustments in virtual assets to the outflow of institutional funds and changes in risk appetite among investors. Notably, the world's largest Bitcoin-holding company, Strategy, recently disclosed that it sold 32 Bitcoins, which has dampened investor sentiment. This marks the first sale of Bitcoin by Strategy since 2022.

Additionally, the ongoing strength of the U.S. stock market, coupled with rising expectations for initial public offerings (IPOs) from major companies like OpenAI, Anthropic, and SpaceX, has led some investment capital to shift from the cryptocurrency market to the stock market.

Meanwhile, at the same time on the domestic exchange Bithumb, Bitcoin was trading at approximately 95.15 million won ($61,015), up 1.32% from the previous day. The so-called "Kimchi premium," where domestic prices are lower than international prices, was recorded at -2.998%.