Bitcoin slipped toward $64,000 after another failed attempt to stay above $65,000, while ether and XRP led losses among major tokens. Traders are watching $70,000 as a key level for sentiment, with broader markets focused on oil, bond yields and upcoming U.S. inflation data.
Bitcoin slipped toward $64,000 after another failed attempt to stay above $65,000, while ether and XRP led losses among major tokens. Traders are watching $70,000 as a key level for sentiment, with broader markets focused on oil, bond yields and upcoming U.S. inflation data.
The move matters because crypto markets remain sensitive to macro conditions that can shape risk appetite. Rising oil prices and higher bond yields have revived inflation concerns ahead of U.S. price data due Wednesday, adding pressure on assets that tend to perform better when expectations for further rate increases are lower.
Bitcoin fell toward $64,000 on Tuesday after failing for a fourth straight day to hold above $65,000, according to CoinDesk. The largest cryptocurrency was down more than 1% on the day, while ether dropped more than 2% to $1,878 and XRP fell nearly 2% to $1.01, making them the weakest major tokens in the session.
The move matters because crypto markets remain sensitive to macro conditions that can shape risk appetite. Rising oil prices and higher bond yields have revived inflation concerns ahead of U.S. price data due Wednesday, adding pressure on assets that tend to perform better when expectations for further rate increases are lower.
Among major tokens, the pullback was not uniform. Solana eased less than 1% to $76 but remained up 3% over the week, while BNB slipped to $600 and still held a 2% weekly gain. Hyperliquid’s HYPE rose almost 2% to $55, tron gained slightly to 33 cents and dogecoin was marginally higher at 7 cents.
FxPro chief market analyst Alex Kuptsikevich told CoinDesk that bitcoin’s repeated tests of $65,000 have not brought a strong wave of buying. He interpreted the market action as a buildup of short positions above that level rather than clear profit-taking by holders.
That has put $70,000 in focus for traders, partly because bitcoin’s 200-day moving average sits nearby. CoinDesk reported that a move through that area could shift sentiment, but the market has not reached it yet: the crypto sentiment index was at 30, in the fear zone, where it has remained since mid-July with occasional dips toward extreme fear.
Fund flows also showed a turn in momentum. U.S. spot bitcoin funds recorded $865 million of inflows over five sessions through Aug. 7, before a provisional $91 million outflow on Monday.
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