bitcoin approached the $65,000 mark several times, but has not yet been able to confidently stay above this level: on the evening of August 5, the price rose to $64,954, and on the morning of August 6, it reached $64,922, according to CoinMarketCap data.
By 11:20 MSK, the first cryptocurrency was trading around $64,800. Over the past 24 hours, the coin gained 1.3% and approached a weekly high. The last time the market saw such values was on July 31.
Market Capitalization Rises, Ethereum Outpaces Bitcoin in Growth Rate
The total crypto market capitalization increased by 0.9% in 24 hours and reached $2.21 trillion. Trading volume for the same period was about $56 billion.
For notable movements over the day, the picture looked like this:
- Ethereum gained 2.3% and held around $1,900.
- Pi rose by 6.6% and showed the best performance among the top 100 cryptocurrencies.
- Audiera lost 28%, marking the sharpest decline in the top 100.
The remaining coins from the top ten by capitalization moved in different directions, but overall changes were within a range of up to 1.5%.
ETF Inflows Continue for Third Day in a Row
Spot bitcoin exchange-traded funds in the US ended the trading session on August 5 with an inflow of $244.4 million, according to SoSoValue data. Inflows into such funds have continued for the third consecutive day, and since the start of the week, investors have directed $626 million into BTC ETFs.
A bitcoin ETF is an exchange-traded fund that gives investors access to bitcoin’s dynamics through a regular exchange instrument. The spot fund is based on the real coin market: the investor buys a share of the fund, not transferring bitcoin to a personal crypto wallet. This format is chosen by those who value familiar infrastructure, regulation, and ease of purchase.
Ethereum funds also attracted capital: $60.8 million was received in one day, and the weekly inflow reached $103 million.
Sentiment Remains Anxious Despite Rising Prices
Even amid rising prices and ETF inflows, the crypto market’s fear and greed index on August 6 fell again from the “Fear” zone to the area of “Extreme Fear.” The indicator is at 25 out of 100, indicating investors’ tendency toward active cryptocurrency selling.
K33 analysts previously noted signs of a local price reversal in the bitcoin blockchain. This signal appeared after the hacking of popular hardware crypto wallets, which resulted in the theft of more than $100 million.
How Bitcoin Works and Why Its Price Moves This Way
Bitcoin is designed as a decentralized digital currency: users can transfer coins directly, without a bank or other center. The network operates on the Bitcoin protocol and blockchain—a shared chain of records where transactions are verified by network participants and become part of an open ledger. The creator is considered to be Satoshi Nakamoto, but bitcoin does not have a single governing body.
New coins appear through mining. Miners confirm transactions and secure the network, receiving rewards in the form of new bitcoins and fees. The maximum supply is limited to 21 million BTC, so in the long term, price is affected not only by demand but also by the limited issuance.
It is impossible to calculate the exact price of 1 bitcoin for 2030 in advance. The long-term rate is influenced by demand for digital assets, market liquidity, news, regulation, speculation, ETF inflows, and limited supply. Because of this, bitcoin remains volatile: strong movements can occur even amid rising capitalization and increased activity from large investors.
Bitcoin can usually be purchased through crypto exchanges, P2P deals, or exchangers. For storage, people use online wallets, hardware devices, and paper wallets; some investors choose Coinbase for transactions, and hardware solutions like Ledger for self-custody.
The brief history of bitcoin fits into several stages: the launch of the network by Satoshi Nakamoto, the first transactions between users, the rise in popularity of cryptocurrencies, and the emergence of regulatory solutions, including exchange-traded funds.
Such movements are tracked not only by charts. To assess the market, people usually look at:
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- market liquidity;
- market capitalization;
- transaction fees;
- use of crypto exchanges, such as Coinbase;
- use of crypto wallets, including hardware solutions like Ledger.
