Crypto Market Update August 5: Bitcoin Gains on Rising ETF Inflows as PUMP, HYPE Top Altcoin Gains

KUALA LUMPUR, 6 AUGUST 2026 —

Data from CoinMarketCap showed the total crypto market capitalisation rose 0.79% to $2.19 trillion in the 24 hours to 12:00 UTC. The advance followed reports that the US and Iran had made “good progress” in talks aimed at ending a four‑month conflict that began in February 2026.

Bitcoin gained 0.60% against the US dollar, while Pump.fun (PUMP) and Hyperliquid (HYPE) led altcoin advances with gains of 12% and 4%, respectively. The S&P 500 hit a record 7,775 on Monday, adding to appetite for risk-on trades including crypto.

Open interest across derivatives climbed 1.37% to $114 billion, according to Coinglass. Bitcoin and Ethereum together accounted for 66% of open positions, with Bitcoin at $48 billion and Ethereum at $26 billion. Total liquidations reached $204 million, affecting 69,047 traders and including a $6.45 million Bitcoin position on Binance.

Bitcoin’s technical picture improved as price stayed within a rising channel on the four-hour chart. The Relative Strength Index at 56 and accelerating Awesome Oscillator bars indicated building bullish momentum. Analysts at SoSoValue noted Bitcoin ETFs have pulled in $381 million this week and are on track for their best inflow week since May 2026 if the streak holds through August 7.

A decisive close above the channel’s upper bound at $64,545 could push the price to the July 27 high of $65,700.

PUMP surged 12% to $0.0025, extending a 34% run from July 29. The token’s RSI at 73 signalled overbought conditions that could trigger a pullback to $0.0020 support. HYPE also climbed 4% as it formed a rounded-bottom pattern, a formation that projects a 17% gain if the price closes above $60 for three consecutive days.

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