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yesterday

Bitcoin Tops $116K as Ethereum Nears $3,900 in Institutional-Led Rebound

Renewed Ethereum ETF inflows paired with moderating Bitcoin outflows have bolstered on-chain fundamentals, setting the stage for potential breakouts.

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Bitcoin
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Overview

  • Bitcoin has reclaimed levels above $116,000 as ETF outflows slowed, with net redemptions dropping to $196 million on Tuesday.
  • Spot Ethereum ETFs reversed two days of withdrawals by recording over $73 million of inflows, contributing to ETH trading near $3,900.
  • Corporate treasuries and private firms have expanded their stakes in both assets, holding roughly 1.35 million BTC and 3.03 million ETH combined.
  • Ethereum’s on-chain activity surged to about 1.87 million daily transactions on Aug. 6, while stablecoin supply on the network climbed 7% to $138 billion.
  • The total crypto market capitalization has consolidated between $3.6 trillion and $3.8 trillion and technical indicators suggest possible breakouts above key resistance levels.