Crypto market mixed as Bitcoin nears $65,000 while altcoins fall
Bitcoin rose 0.85% to $64,554 and Ethereum gained 1.94% to $1,904 on August 6 even as nine of the top ten cryptocurrencies fell. Pi Network climbed 3.83% to $0.091 ahead of its Protocol 26 upgrade on August 11 according…
Source: CoinGape · August 6, 2026 at 5:06 PM · AI-assisted report
Corroborated
KUALA LUMPUR, 7 AUGUST 2026 —
Bitcoin rose 0.85% to $64,554 and Ethereum gained 1.94% to $1,904 on August 6 even as nine of the top ten cryptocurrencies fell. Pi Network climbed 3.83% to $0.091 ahead of its Protocol 26 upgrade on August 11 according to CoinMarketCap.
Market Impact
Inflows to spot Bitcoin ETFs reached $244 million on August 5 and $626 million since August 3, while Ethereum ETFs recorded $60 million on August 6, the highest since July 22, SoSoValue data show. The gains came as U.S.-Iran tensions eased after Qatar said a draft peace deal was ready. Odds of the U.S.
CLARITY Act passing before the Senate recess on August 7 dropped to 16% on Polymarket, and XRP ETFs posted $3.58 million in outflows on August 6, the biggest since July 8.
The total crypto market cap stood at $2.2 trillion, up 0.34%, while 24-hour trading volumes reached $57.33 billion. Only Bitcoin and Ethereum traded in the green; XRP fell 1.15% to $1.04. Bitcoin dominance held at 58.9%, the altcoin season index sat at 43/100 and the Fear and Greed Index registered 25, indicating extreme fear.
Derivatives activity strengthened: open interest rose 0.89% to $115.12 billion and trading volumes jumped from $162 billion on August 5 to $179 billion, Coinglass data show. Total liquidations hit $257 million, split between $154 million in short positions and $102 million in longs, with Bitcoin and Ethereum accounting for $55 million and $52 million, respectively.
Bitcoin’s technical picture improved as it moved above the 20-day and 50-day EMAs, but the 100-day EMA at $67,038 remains a hurdle. The Awesome Oscillator’s green bars suggest bullish short-term momentum, though a prediction market shows only a 2% chance BTC closes above $66,000 today.
Ethereum cleared the $1,900 resistance, and CoinGape said a three-day close above $1,925 could push ETH toward the 200-day SMA at $2,155. CryptoQuant data show Ethereum whales with 10,000–100,000 ETH have amassed a record 19.6 million ETH, while wallets holding more than 100,000 ETH bought 1.8 million ETH in the past year.
Pi Network’s Protocol 26 upgrade on August 11 is the key catalyst for its gain, according to CoinMarketCap. Traders expect a test of the $0.10 psychological level, but warn a “sell-the-news” reaction could reverse gains if the upgrade underwhelms.
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