Bitcoin Holds Firm as LINK and HYPE Lead Token Gains Ahead of Key Fed Week

Bitcoin held steady above $63K on Monday as the cryptocurrency market entered a relatively slow week. The price of BTC was around $63,460 during early Asian hours, representing a 24-hour gain of 0.8% but a week-to-date fall of about 2.7%. Ethereum mirrored this trend, hovering near $1,900.64, up 1% on the day but down 0.8% over the week.

The broader digital asset market cap stood at around $2.24 trillion, with Bitcoin's market dominance at approximately 57%. Despite these figures, institutional flows were negative, with U.S. spot Bitcoin ETFs seeing net outflows of $390 million between August 10 and August 14.

However, some large-cap tokens showed significant gains, with Hyperliquid's HYPE token rising by 3.4% in a day and 8.7% over the week to trade at around $58.81. LINK also surged ahead, increasing by 15.7% from the previous week to reach roughly $9.45.

The coming week is expected to be pivotal for Bitcoin's price movement, with the Fed set to release the minutes of its July meeting on August 19. Cryptocurrency executives and trade groups are also scheduled to attend a White House meeting on digital asset policy that day.