Bitcoin is trading near the $65,000 mark on Monday after a turbulent seven days, while US spot Bitcoin and Ether ETFs together attracted around $1.1 billion in net inflows over the past week. The cryptocurrency was trading at $65,242.
In the past 24 hours, Bitcoin and Ethereum were up 0.59% and 0.34%, respectively. Among the major altcoins, BNB, XRP, Solana and Tron rallied by up to 1%, whereas Hyperliquid, Dogecoin and Cardano fell by less than 1%.
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Akshat Siddhant, Lead Quant Analyst at Mudrex, said Bitcoin is holding just below the $65,000 level at the start of the week, having weathered a turbulent seven days that included fallout from a hardware wallet security exploit and a contentious minority-chain split, without any significant price damage.
He further said that US spot Bitcoin and Ether ETFs together attracted around $1.1 billion in net inflows over the past week, their strongest weekly performance since mid-April, and the next major test arrives on August 12, when the US will release its July CPI inflation print.
The global crypto market capitalisation rose 0.35% to $2.22 trillion, according to CoinMarketCap. The Fear and Greed Index has risen to 40, with sentiment improving to neutral from fear, said the CoinDCX Research Team.
In the past week, Bitcoin and Ethereum were up 4.66% and 5.09%, respectively. Among the major altcoins, BNB, Solana, Tron, Hyperliquid, Dogecoin and Cardano gained by up to 8.35%, whereas XRP was down 2.79%.
Riya Sehgal, Research Analyst at Delta Exchange, said crypto and broader risk markets entered the week with a constructive but increasingly data-sensitive setup, with the $64,200–$64,500 region remaining the key demand zone, while $65,400–$65,600 is the immediate resistance.
Sehgal further said that attention now shifts to the US CPI. Softer inflation could extend the rally across crypto and precious metals, while an upside surprise could revive dollar and Treasury yield strength and trigger broader profit-taking.
Here is what other experts say
CoinSwitch Markets Desk: BTC held firm near the $65,000 handle through the weekend, consolidating just below the level after Friday's push higher and trading around $65,000 as of now. This move was driven largely by a soft July jobs report. Broader sentiment remains cautious-to-constructive, with markets watching Fed easing signals, oil price swings tied to Strait of Hormuz negotiations and progress on US crypto legislation, including the Clarity Act.
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Vikram Subburaj, CEO, Giottus: With Bitcoin moving in a narrow range, institutional demand, on-chain activity and macro expectations have all begun to change. US spot Bitcoin ETFs received $865.3 million between August 3 and August 7. All five sessions recorded net inflows. For investors, the market has improved since the weakness seen in June and early July, but ETF inflows alone cannot confirm a trend reversal.
Avinash Shekhar, Co-Founder & CEO, Pi42: The crypto market appears to be shifting from defence to discovery. Bitcoin is holding near the $65,000 mark after gaining around 2% last week, while Ethereum is testing the $1,900-plus zone, with momentum gradually rebuilding. Instead of chasing every rebound, investors can use this phase to watch whether Bitcoin sustains its key support levels and whether Ethereum converts improving momentum into a breakout.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
