Bitcoin traded close to $63,460 during Monday’s Asian session, posting a 0.7% daily increase but remaining down 2.3% compared to the previous week. The price steadied after dipping below $62,500 on Friday, then recovering above the $63,000 level over the weekend.
Market snapshot: Broad moves, mixed results
The world’s largest cryptocurrency maintained a market capitalization of $1.27 trillion. The overall digital asset market was valued at approximately $2.24 trillion. Bitcoin’s dominance sat near 57% as most large-cap coins saw modest daily gains, while weekly returns were varied.
Ethereum traded around $1,900, gaining 1% on the day but slightly down over the week. XRP hovered near $1.00 after sliding 2.8% in seven days. Solana remained steady at about $75.47, showing little change compared to the prior week.
Bitcoin’s price stabilized after declines late last week and continued consolidating below resistance in the $65,000–$66,000 range, with $60,000 serving as a key support level.
| Cryptocurrency | Current Price | Daily Change | Weekly Change |
|---|---|---|---|
| Bitcoin (BTC) | $63,460 | +0.7% | -2.3% |
| Ethereum (ETH) | $1,900 | +1% | slightly down |
| XRP | $1.00 | — | -2.8% |
| Solana (SOL) | $75.47 | — | flat |
ETF outflows reverse prior momentum
US spot Bitcoin exchange-traded funds (ETFs) saw net outflows totaling $390 million from August 10 to August 14, reversing $853.5 million in net inflows recorded over five consecutive sessions the previous week. Fidelity’s FBTC led the outflows, accounting for approximately $153 million of the total. Meanwhile, spot Ethereum ETFs experienced modest outflows, reporting $2.26 million leaving these products over the week.
Spot Bitcoin ETFs allow investors to gain exposure to the price of Bitcoin through regulated financial markets without holding the underlying asset directly.
Mini dictionary: Spot Bitcoin ETF, an exchange-traded fund designed to track the price of Bitcoin on regulated markets, allowing investors to gain direct price exposure without owning the underlying cryptocurrency.
HYPE and LINK post standout gains
Hyperliquid’s HYPE token advanced 3.4% in 24 hours and 8.7% across seven days, trading near $58.81 and attaining a $13.1 billion market capitalization. In the second quarter, Hyperliquid reported $169 million in revenue, with $141 million allocated to HYPE buybacks during this period.
Chainlink’s LINK token stood out among major cryptocurrencies, climbing 15.7% over the week to approximately $9.45. Monero also saw stronger-than-average performance, gaining 4.9% in seven days and trading near $413.84.
Within the top 100 cryptocurrencies, Bitway delivered the largest daily surge, rising 22.3%. On the other hand, Stable and Quant suffered the steepest daily losses, each dropping over 3%.
The US Federal Reserve is scheduled to publish the minutes from its July meeting on Wednesday, August 19. At that session, officials voted 9-3 to leave interest rates unchanged at the 3.5%-3.75% range.
HYPE and LINK both outperformed major coins over the week, highlighting pockets of strength amid mixed overall market conditions.
