Bitcoin (BTC) rose above $64,000, while several major altcoins also posted gains. The broader market benefited from stronger institutional demand, easing geopolitical tensions, and continued inflows into U.S. spot Bitcoin ETFs.
At the time of writing, the total cryptocurrency market was valued at around $2.19 trillion, up nearly 0.8% over the past 24 hours.
Bitcoin Price Climbs Above $64,000
Bitcoin gained around 0.6% during the day and traded near $64,000.
The move comes as U.S. spot Bitcoin ETFs recorded another day of positive inflows. According to SoSoValue data, Bitcoin ETFs have attracted more than $381 million so far this week.
The steady inflows suggest that institutional investors continue adding exposure despite recent market uncertainty.
If ETF demand remains strong, Bitcoin could continue to find support in the coming days.
Crypto Market Turns Green
Most of the largest cryptocurrencies traded in positive territory.
Ethereum (ETH) climbed to around $1,867, while Bitcoin’s market dominance remained close to 58.7%.
However, not every major cryptocurrency gained. XRP, TRON (TRX), and Dogecoin (DOGE) traded slightly lower during the session.
Investor sentiment also improved after reports suggested progress in diplomatic talks between the United States and Iran. Lower geopolitical risk often encourages investors to buy higher-risk assets such as cryptocurrencies.
Bitcoin ETF Inflows Support Market Sentiment
Institutional demand remains one of Bitcoin’s biggest drivers.
Spot Bitcoin ETFs have now recorded two straight days of inflows, helping improve overall market confidence.
At the same time, the S&P 500 reached another record high, showing that investors are becoming more comfortable taking on risk across financial markets.
This positive sentiment has helped offset concerns surrounding delays to the U.S. CLARITY Act, which continues to face uncertainty in the Senate.
Crypto Derivatives Show Rising Activity
Trading activity also increased across the derivatives market.
Open interest rose to around $114 billion, according to Coinglass.
Bitcoin accounted for roughly $48 billion, while Ethereum represented about $26 billion of total open interest.
During the past 24 hours, more than 69,000 traders were liquidated across the crypto market. Total liquidations reached approximately $204 million, with Bitcoin and Ethereum accounting for the largest share.
PUMP Leads Today’s Altcoin Gainers
Pump.fun’s PUMP token was the best-performing major altcoin today, August 5.
The token jumped roughly 12% during the day and has gained more than 30% over the past week.
The rally reflects growing interest from traders, although technical indicators suggest the token is approaching overbought levels after its recent surge.
Hyperliquid (HYPE) Extends Its Rally
Hyperliquid’s HYPE token also posted solid gains.
The token climbed around 4%, continuing its recent upward trend.
Market analysts say the latest price action shows improving momentum as buyers continue supporting the asset.
While HYPE remains one of today’s (August 5) strongest performers, traders are watching key resistance levels before expecting another major move.
What Crypto Investors Should Watch
Bitcoin remains above the important $64,000 level as institutional demand continues to support the market.
Investors will now watch whether ETF inflows remain positive through the rest of the week.
They will also monitor macroeconomic news and developments around U.S. crypto regulation, both of which could influence market sentiment in the coming days.
For now, Bitcoin continues to lead the market, while PUMP and Hyperliquid stand out as today’s strongest-performing altcoins.
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