On August 5, Bitcoin traded near $64,270, up less than 1% despite record equity markets and falling oil prices failing to lift the broader crypto sector.
Global stocks posted strong gains. Japan's Nikkei jumped 3.5%, South Korea's benchmark rose 4.3%, and the MSCI Asia Pacific index excluding Japan climbed 2.3%, all fueled by AI-related earnings. The S&P 500 and Dow closed at fresh records. Yet Bitcoin barely budged.
Oil prices fell toward $78.50 as traders awaited a possible U.S., Iran, and Oman shipping agreement. Lower crude typically reduces inflation pressure and should support risk assets. Bond yields eased too, with the 10-year Treasury yielding around 4.603%, making non-interest bearing assets like Bitcoin theoretically more attractive.
The crypto market shrugged at all of it. This suggests demand remains weak and confined to crypto-specific flows rather than broader risk appetite returning to the space.
U.S. spot Bitcoin ETFs recorded $19.6 million in net inflows on August 4, according to Farside Investors. That sounds positive until you look at the bigger picture. Just three days earlier, on August 1, the same ETFs saw roughly $265 million flow out. Recent outflows still weigh on overall momentum.
Analyst Ali Martinez flagged a potential breakout if Bitcoin closes above $64,300 on four-hour charts. Bollinger Bands place immediate resistance near $66,285, with support around $62,524.
Among major tokens, Ether and XRP weakened. BNB and Hyperliquid's HYPE outperformed, though neither moved enough to suggest conviction.
Bitcoin remains roughly flat over seven days and about 49% below its October 2025 peak above $126,000. Corporate supply has also returned. Strategy sold 1,638 BTC for roughly $105 million, leaving it with 842,138 BTC. The sale itself was small relative to holdings, but it signals the end of price-insensitive accumulation that once supported rallies.
This material is informational only and does not constitute financial advice. Crypto markets remain highly volatile and speculative.
