Crypto Market Sees Continued Growth as Bitcoin Nears $65,000
Bitcoin's price continues to hover around $65,000, but has not yet been able to confidently stay above this level. On August 5 and 6, it reached prices of $64,954 and $64,922 respectively, according to CoinMarketCap data.
The crypto market capitalization increased by 0.9% in 24 hours, reaching $2.21 trillion. Ethereum gained 2.3%, while Pi rose by 6.6% and showed the best performance among the top 100 cryptocurrencies.
Spot bitcoin exchange-traded funds (ETFs) in the US saw an inflow of $244.4 million on August 5, marking the third consecutive day of such flows. Ethereum funds also attracted capital, with a one-day inflow of $60.8 million and a weekly inflow of $103 million.
The crypto market's fear and greed index fell to 25 out of 100, indicating investors' tendency towards active cryptocurrency selling. Analysts previously noted signs of a local price reversal in the bitcoin blockchain following a hacking incident that resulted in over $100 million stolen.