Bitcoin stabilised near $64,500 on Thursday as renewed inflows into US exchange-traded funds helped absorb selling pressure. Ether recovered towards $1,900, but the broader crypto market remained cautious ahead of the US employment report.
BRUSSELS, August 6, 2026 — Cryptocurrency markets moved moderately higher on Thursday, supported by a weaker US dollar, softer employment indicators and three consecutive sessions of net inflows into US spot Bitcoin exchange-traded funds.
Bitcoin traded around $64,500, extending its recovery from levels below $63,000 earlier in the week. Ether approached $1,900, although the second-largest cryptocurrency continued to underperform Bitcoin over longer periods.
The market’s resilience was notable after Strategy—the world’s largest publicly listed corporate holder of Bitcoin—disclosed the sale of 1,638 coins. Investors are now assessing whether renewed institutional demand can produce a more durable recovery after the difficult first half of 2026.
Cryptocurrency market snapshot
| Cryptocurrency | Indicative level | Session trend |
|---|---|---|
| Bitcoin | Around $64,500 | Higher |
| Ether | Around $1,900 | Higher |
| Solana | Around $74 | Broadly stable |
| Total crypto market | — | Moderately higher |
Prices observed during the August 6 session and subject to rapid change.
Bitcoin stabilises above $64,000
Bitcoin traded between approximately $64,000 and $64,650 during Thursday’s session, after opening close to $64,600.
The cryptocurrency has recovered from the weakness recorded at the beginning of August, but it remains far below the record levels reached in 2025. Bitcoin’s inability to produce a stronger advance reflects several continuing concerns:
- Weaker participation from retail investors.
- Previous outflows from cryptocurrency investment products.
- Uncertainty surrounding US digital-asset legislation.
- Potential selling by companies that accumulated Bitcoin on their balance sheets.
- Competition from artificial-intelligence and technology investments.
- Continuing sensitivity to interest rates and global risk appetite.
Bitcoin’s latest recovery has coincided with softer US employment data and a weaker dollar. These conditions can support digital assets by reducing expectations of tighter Federal Reserve policy.
However, traders remain cautious ahead of Friday’s official US employment report. Strong payroll and wage figures could lift Treasury yields and the dollar, potentially placing renewed pressure on Bitcoin.
ETF inflows provide renewed institutional support
The most encouraging development for Bitcoin has been the return of capital to US spot ETFs.
Data compiled by Farside Investors show that the funds attracted net inflows of:
- $170.1 million on August 3
- $211.5 million on August 4
- $244.4 million on August 5
The three-day total consequently reached approximately $626 million.
BlackRock’s iShares Bitcoin Trust accounted for $196.8 million of the August 5 inflows, while Fidelity, Ark–21Shares and Bitwise also recorded positive subscriptions.
These flows are important because spot ETFs must obtain exposure to the underlying cryptocurrency. Persistent subscriptions can therefore provide a significant source of demand and improve market sentiment.
The inflows also suggest that institutional investors may be gradually returning after a difficult period for cryptocurrency products. Farside’s longer-term data nevertheless show that ETF demand has been volatile, with approximately $265 million leaving the products on July 31.
A few positive sessions do not yet confirm a sustained institutional recovery, but they have helped Bitcoin absorb other sources of selling pressure.
Strategy sells 1,638 Bitcoin
Strategy’s decision to sell part of its cryptocurrency reserve was one of the week’s most closely watched corporate developments.
The company sold 1,638 Bitcoin between July 27 and August 2, generating approximately $104.73 million at an average price of $63,957 per coin.
Approximately half of the proceeds was used to finance preferred-stock dividends, while the remainder supported repurchases of Strategy’s variable-rate preferred shares.
The company retained 842,138 Bitcoin following the transaction. Its aggregate acquisition cost was approximately $63.5 billion, representing an average purchase price of $75,419 per coin.
The sale is significant because Strategy had become closely associated with aggressive Bitcoin accumulation. Its willingness to reduce its holdings shows that corporate cryptocurrency reserves can also become a source of liquidity when companies need to finance dividends, interest payments or share repurchases.
Strategy had already indicated that it could sell Bitcoin under certain circumstances. The latest transaction does not represent an abandonment of its digital-asset strategy, but it demonstrates that the company now places greater emphasis on financial flexibility.
Corporate treasuries become a market risk
The rise of digital-asset treasury companies created substantial demand for Bitcoin during the earlier bull market. These businesses issued shares or debt and used the proceeds to purchase cryptocurrencies.
That model becomes more difficult when:
- The company’s share price falls relative to the value of its crypto holdings.
- New equity issuance becomes excessively dilutive.
- Debt and preferred-stock payments consume cash.
- The cryptocurrency trades below the company’s average acquisition price.
- Investors lose confidence in the treasury strategy.
According to a Reuters analysis published in July, the combined market capitalisation of digital-asset treasury companies peaked in 2025 and has struggled to regain that momentum.
If more treasury companies begin selling assets to meet financial obligations, they could create an additional source of cryptocurrency supply. Strategy’s substantial remaining holdings mean that investors will closely monitor its future disclosures.
The risk should not be overstated: the company sold only a small fraction of its reserve, and recent ETF inflows exceeded the dollar value of that transaction. Nevertheless, the sale challenges the earlier assumption that major corporate holders would accumulate Bitcoin indefinitely.
Ether recovers towards $1,900
Ether traded between approximately $1,870 and $1,920 on Thursday, recovering from levels near $1,850 earlier in the week.
The cryptocurrency remains under pressure over a longer horizon. It has struggled to match Bitcoin’s resilience as investors question whether network usage, transaction fees and institutional demand can justify a stronger valuation.
Ethereum nevertheless retains several strategic advantages:
- It remains a central platform for stablecoins and decentralised finance.
- Tokenised financial assets are frequently issued on Ethereum or compatible networks.
- Its smart-contract infrastructure benefits from an extensive developer ecosystem.
- Staking allows holders to earn network rewards.
- Institutional interest in tokenisation may produce additional activity.
The principal weakness is that growing adoption of Ethereum-based technology does not always translate directly into higher transaction fees or stronger demand for Ether itself. Layer-two networks can reduce costs for users but may also divert activity away from Ethereum’s principal blockchain.
Ether’s movement above $1,900 would improve short-term sentiment, although a more convincing recovery would require stronger institutional inflows and evidence of expanding network activity.
Bitcoin continues to outperform Ether
The divergence between the two largest cryptocurrencies remains an important market theme.
Bitcoin benefits from a relatively simple institutional narrative: it has a fixed maximum supply, an extensive trading infrastructure and spot ETFs that provide regulated access for traditional investors.
Ether has a more complex investment case. Its value depends partly on usage of the Ethereum network, staking demand, decentralised applications, stablecoins and tokenisation.
This distinction has encouraged investors seeking cryptocurrency exposure to concentrate on Bitcoin during periods of uncertainty. Ether and smaller tokens generally require a stronger appetite for risk.
A sustained improvement in the broader market would probably need Ether to participate more decisively. If Bitcoin advances while Ether remains below $2,000, it could indicate that investors are still prioritising liquidity and relative safety rather than taking broad exposure to digital assets.
Solana and altcoins remain comparatively fragile
Solana remained close to its recent range around $74, after trading near that level earlier in the week.
Smaller cryptocurrencies continue to face greater volatility than Bitcoin. Their prices depend more heavily on speculative activity, network-specific developments and access to liquidity.
Altcoins can outperform dramatically during strong crypto rallies, but they generally experience larger losses when investors reduce risk. Important factors for the sector include:
- Developer and user activity.
- Stablecoin liquidity.
- Token-supply growth and scheduled unlocks.
- Network reliability.
- Regulatory classification.
- Competition between blockchain ecosystems.
Until Bitcoin establishes a clearer upward trend, investors may remain reluctant to make large allocations to smaller tokens.
Regulation offers greater clarity but legislation remains uncertain
The US regulatory environment has improved in certain respects.
In March, the Securities and Exchange Commission published an interpretation explaining how federal securities laws apply to several categories of crypto assets and transactions. The measure was intended to provide clearer distinctions between assets that fall within securities regulation and those that do not.
The interpretation became effective on March 23, 2026, and was accompanied by Commodity Futures Trading Commission guidance.
Greater regulatory clarity can support institutional adoption by helping exchanges, asset managers and financial institutions determine their compliance obligations.
However, broader cryptocurrency legislation remains politically difficult. Disagreements concerning stablecoins, anti-money-laundering requirements, market supervision and potential conflicts of interest among public officials have delayed progress.
The absence of a comprehensive market-structure law continues to limit the sector’s ability to attract investors who require long-term regulatory certainty.
Crypto remains closely linked to macroeconomic conditions
Bitcoin is frequently described as an alternative monetary asset, but its short-term behaviour remains strongly influenced by the same factors affecting technology shares and other risk-sensitive investments.
The principal macroeconomic drivers include:
- US interest rates: Higher yields increase the opportunity cost of holding non-income-producing assets.
- The dollar: A weaker dollar can improve demand for dollar-denominated cryptocurrencies.
- Market liquidity: Easier financial conditions generally support speculative assets.
- Equity sentiment: Weakness in technology shares can spread to the crypto market.
- Employment and inflation: These determine expectations for Federal Reserve policy.
The softer ADP employment report released this week supported Bitcoin by reducing some expectations of further monetary tightening. Friday’s government employment data will provide a more important test.
A weak report could push the dollar and bond yields lower, supporting cryptocurrencies. Conversely, strong hiring and wage growth could renew expectations of higher interest rates and limit Bitcoin’s recovery.
Levels to watch
Bitcoin’s immediate technical position has improved, but the recovery remains tentative.
The $64,000 area now represents the first important reference level. Remaining above it would help preserve the recent improvement in sentiment.
A move above $65,000–$66,000 could attract additional momentum-driven buying. Conversely, a return below $62,500 would suggest that the recent rebound has failed.
For Ether, the first objective is a sustained recovery above $1,900. The psychologically important $2,000 level would then become the principal test.
These levels are observations rather than forecasts. Cryptocurrency prices can move rapidly, particularly around important economic announcements.
Crypto market outlook
The crypto market is showing early signs of stabilisation, but the evidence remains mixed.
Bitcoin has recovered above $64,000, while three consecutive days of US ETF inflows demonstrate renewed institutional interest. A weaker dollar and softer employment indicators have also created a more supportive macroeconomic environment.
At the same time, Strategy’s Bitcoin sale highlights a new risk. Corporate treasury companies that previously drove demand may occasionally become sellers when they need cash for dividends, debt payments or share repurchases.
Ether’s weaker longer-term performance shows that confidence has not yet returned across the entire market. The recovery remains concentrated in Bitcoin rather than reflecting a broad speculative rally.
Friday’s US employment report could determine the next significant move. Softer data would probably support digital assets through lower yields and a weaker dollar, while stronger results could place renewed pressure on the market.
For now, the balance has improved—but Bitcoin must maintain the $64,000 area and institutional inflows must continue before the movement can be described as a durable recovery.
Cryptocurrency prices are indicative and may change rapidly. This article is for informational purposes and does not constitute investment advice.
Sources
- Yahoo Finance — Bitcoin historical price data — Bitcoin’s August 6 trading range and recent price history.
- Yahoo Finance — Ether historical price data — Ether’s August 6 trading range and recent price history.
- Farside Investors — US spot Bitcoin ETF flows — daily ETF subscriptions and redemptions through August 5.
- The Wall Street Journal — Strategy sells $105 million of Bitcoin — Strategy’s sale, use of proceeds and remaining holdings.
- Reuters — Strategy’s Bitcoin sales highlight pressure on digital-asset treasury companies — risks affecting companies that accumulated cryptocurrencies.
- SEC — Application of federal securities laws to crypto assets — official regulatory interpretation and its objectives.
- SEC — Federal securities law interpretation for certain crypto assets — full regulatory text and effective date.
- CME Group — Bitcoin futures — institutional Bitcoin derivatives market data.
