0855 ET - Easing crude prices and a weaker U.S. dollar are giving bitcoin support--with the token up 0.3% to $83,275, according to LSEG data. But there's other key sources of support that are missing, says Dat Tong of Exness in a note. "The rebound lacks strong institutional support," says Tong. "Spot Bitcoin ETFs recorded USD 65 million in net outflows on Monday, taking October flows to negative USD 451 million." Demand has been an issue for bitcoin on both the retail and institutional sides, exaggerating price movements due to the low volumes being traded but providing little lasting momentum for bitcoin in either direction. Ethereum falls 0.7% to $2,501, and XRP is down 0.5% to $1.36.
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