Is Bitcoin slipping again?
Bitcoin (BTC) is trading below $115,000 signaling renewed signs of weakness. The leading cryptocurrency is struggling to break through a key resistance level, with overall market sentiment remaining cautious.
Adding to the bearish outlook, institutional demand is waning. Spot Bitcoin Exchange-Traded Funds (ETFs) have now posted three consecutive days of outflows. On August 4, U.S.-based crypto ETFs saw significant withdrawals:
- $323.5 million in outflows from Spot BTC ETFs
- $465.1 million from Spot Ether ETFs
Despite these headwinds, corporate treasuries are stepping in, helping stabilize the market. On Monday, institutional buyers collectively added over 600 BTC, signaling continued long-term interest even amid short-term uncertainty.
BTC briefly dropped to $114,430, but Ethereum (ETH) showed relative strength, gaining 4% to trade around $3,671. This uptick was fueled by corporate treasury allocations from companies like BitMine and SharpLink.
- Global crypto market cap: $3.75 trillion (+0.88% in 24h)
- XRP, SOL, DOGE, HYPE, ADA, BCH: each gained 2–3%
Mantle (MNT) surged 23%, driven by:
- A 69% jump in open interest (now at $36M)
- Increased retail and derivatives trading
Litecoin (LTC) jumped 13% to $124.70, after processing 14.5% of all crypto transactions via CoinGate in July, surpassing USDT and USDC
BNB climbed nearly 2% to $766, supported by a volume spike and announcements from U.S.-listed firms like CEA Industries and Liminatus Pharma
Chainlink (LINK) added 2% to $16.82 following the launch of new Data Streams for U.S. equities and ETFs
Institutional Highlights:
- BitMine became the largest corporate Ether holder, managing $2.9B in ETH
- Verb Technology announced a $558M Toncoin strategy, boosting its stock 65%, even as TON dropped 6%
- Sequans Communications (France) added 85 BTC, raising its holdings to 3,157 BTC
- Sweden’s H100 Group raised $2.2M to grow its Bitcoin treasury
- Bullish, an institutional crypto exchange, is reportedly prepping for a U.S. listing, with a potential valuation of $4.23 billion
What’s Ahead: Key Events in August:
- Aug 12: Expiry of the Trump–China tariff truce – if not renewed, global markets (including crypto) could react sharply
- Aug 13 & 14: U.S. CPI and PPI inflation data – critical for shaping Fed interest rate expectations
- Aug 21–23: Jackson Hole Symposium – Fed policy clarity anticipated
- Aug 29: Core PCE inflation – a key metric the Fed watches closely
With multiple macro events on the horizon and volatility on the rise, August could be a make-or-break month for the ongoing crypto rally.
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