Bitcoin Holds Steady near $63K as HYPE and LINK Outperform
Bitcoin held steady near $63,460 on Monday, August 17, despite being down 2.3% for the week. The cryptocurrency's market capitalization remained around $1.27 trillion, with its dominance in the broader crypto market holding at approximately 57%. Most large-cap coins saw small daily gains, but weekly results were mixed.
Hyperliquid's HYPE token outperformed other major cryptocurrencies, gaining 3.4% daily and 8.7% over seven days. Chainlink's LINK rose 15.7% for the week, one of the biggest weekly gains in the top 20. In contrast, XRP stayed near $1.00, down 2.8% weekly.
The U.S. spot Bitcoin ETFs saw a significant reversal last week, with $390 million in net outflows following prior inflows of $853.5 million. This shift may have implications for the cryptocurrency's market capitalization and dominance.