Bitcoin Posts Slight Gain, But Fails to Recover Last Week’s Losses
Despite recent pullbacks, market sources noted that net inflows into Bitcoin funds over the past 30 days total $12.2 billion.
Quick overview
- Bitcoin (BTC) started August trading at $114,831, up 0.8% for the day but down 2.7% for the week due to market volatility.
- Despite recent outflows of $404 million from Bitcoin investment products, net inflows over the past 30 days reached $12.2 billion, indicating profit-taking.
- Altcoins like Ethereum (ETH) and Ripple (XRP) experienced stronger gains, with ETH rising 5% to $3,646, although both remain down for the week.
- Analysts caution that August has historically been challenging for crypto, with ongoing trade tensions and a restrictive Federal Reserve contributing to market instability.
Bitcoin (BTC), the leading cryptocurrency by market cap, began August with a modest upward move, trading at $114,831 on Monday—up 0.8% on the day.
However, it still carries a weekly loss of 2.7%, after sharp declines driven by market volatility last week.
Crypto markets are broadly rebounding alongside Wall Street, following Friday’s market turbulence triggered by aggressive U.S. tariff announcements and weaker-than-expected U.S. jobs data. On that same day, Bitcoin investment products—particularly spot ETFs—saw $404 million in outflows, briefly dragging BTC below $112,000 before recovering toward the $114,000 mark.
Despite recent pullbacks, market sources noted that net inflows into Bitcoin funds over the past 30 days total $12.2 billion—roughly half of the year’s total—suggesting profit-taking rather than a major exit.
Altcoins Join the Rebound
Altcoins mirrored the bounce with even stronger gains. Ethereum (ETH) rose 5% to $3,646, although it remains down 5.1% for the week. Ripple (XRP) climbed 5.3%, BNB gained 1.9%, Solana (SOL) advanced 2.7%, while memecoin Dogecoin (DOGE) and Tron (TRX) added 3% and 2.1%, respectively.
Still, analysts warn that August has historically been a tough month for crypto, with negative average returns since 2021. As long as the Federal Reserve maintains its restrictive stance and trade tensions persist, the risk of a prolonged correction remains elevated.
The backdrop for crypto markets remains tense. The latest round of tariffs announced by President Donald Trump last Thursday—including steep increases targeting multiple countries—has added to global uncertainty. Analysts warn that these trade measures are creating a climate of instability that could further dampen investment and employment prospects.
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