Bitcoin Holds Near $65,000 as Crypto ETFs See $1.1B Inflows
Bitcoin is trading near the $65,000 mark at $65,242 on Monday following a turbulent week, supported by approximately $1.1 billion in net inflows into U.S. spot Bitcoin and Ether ETFs over the past seven days.
Market sentiment has improved from fear to neutral, with the Fear and Greed Index rising to 40, while the global cryptocurrency market capitalization increased by 0.35% to $2.22 trillion. Investors are currently focused on the upcoming U.S. July Consumer Price Index (CPI) inflation report scheduled for release on August 12.
Key market movements and statistics include:
- 24-Hour Performance: Bitcoin rose 0.59% and Ethereum gained 0.34%. Major altcoins BNB, XRP, Solana, and Tron rallied by up to 1%, while Hyperliquid, Dogecoin, and Cardano declined by less than 1%.
- Weekly Performance: Bitcoin and Ethereum advanced 4.66% and 5.09%, respectively. Altcoins including BNB, Solana, Tron, Hyperliquid, Dogecoin, and Cardano gained up to 8.35%, while XRP dropped 2.79%.
- ETF Inflows: U.S. spot Bitcoin ETFs alone drew $865.3 million across five consecutive net-inflow sessions between August 3 and August 7.
Expert Commentary and Technical Analysis:
Akshat Siddhant, Lead Quant Analyst at Mudrex, stated that Bitcoin held firm despite a hardware wallet security exploit and a contentious minority-chain split, achieving its strongest weekly ETF inflow performance since mid-April.
Riya Sehgal, Research Analyst at Delta Exchange, identified the $64,200–$64,500 region as the primary demand zone and $65,400–$65,600 as immediate resistance. Sehgal noted that softer CPI inflation could prolong the market rally, whereas an upside inflation surprise might prompt broader profit-taking.
According to the CoinSwitch Markets Desk, recent price stability was influenced by a soft July U.S. jobs report, with markets tracking Fed easing signals, Strait of Hormuz oil price developments, and U.S. legislative initiatives such as the Clarity Act. Additionally, Pi42 Co-Founder and CEO Avinash Shekhar noted that market momentum is rebuilding as Ethereum tests the $1,900-plus level.
