Bitcoin and Gold Surge as Institutional Demand Returns

Bitcoin is showing strength as it approaches a break past $65,000. Institutional demand for Bitcoin has returned, with U.S. spot Bitcoin ETFs recording $244 million in net inflows on August 5.

The Gold price has also surged to $4,200, and analysts see another 10% upside. Over the past six months, both assets have seen corrections and entered an accumulation zone.

Popular analyst Daan Crypto Trades noted that BTC must break above the $67,000 level to confirm a bullish shift in its daily market structure. He identified the $60,000 level as key high-timeframe support.

Crypto analyst Ali Martinez pointed out that a bullish divergence between Bitcoin price and net capital flows has reappeared, similar to the last cycle low.