Bitcoin Reclaims $64,000 as Spot ETF Inflows Hit $268 Million
Bitcoin (BTC) reclaimed the $64,000 level on Tuesday as institutional inflows into spot exchange-traded funds (ETFs) continued to drive demand. The largest cryptocurrency traded near $64,300, up roughly 0.2% over the prior 24 hours.
The total crypto market capitalization edged higher to approximately $2.19 trillion. Ethereum (ETH) advanced 0.86% to around $1,912, while XRP gained 0.49% to touch the $1 mark.
Solana outperformed with a 1.45% rise to $76.87, despite lingering uncertainty over geopolitical tensions in the Middle East and the upcoming release of the Federal Reserve's July meeting minutes.
Institutional Flows Favor Bitcoin and Ethereum: Spot ETF data from August 18 highlighted the institutional appetite that has underpinned Bitcoin's resilience. Bitcoin spot ETFs attracted $189.3 million in net inflows, far outpacing other digital asset products.