Home
Cryptocurrency
Cryptocurrency News
Bitcoin Approaches $64,000 as Stronger US Data Lifts Crypto Sentiment

Bitcoin Approaches $64,000 as Stronger US Data Lifts Crypto Sentiment

Crypto market edges higher as stronger US economic data improves sentiment despite cautious trading activity.

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 4 August 2026 14:13 IST

Bitcoin Approaches $64,000 as Stronger US Data Lifts Crypto Sentiment

Photo Credit: Unsplash/Joshua Woroniecki

Bitcoin inches higher as stronger US economic data lifts market confidence

Click Here to Add Gadgets360 As A Trusted Source

Highlights

Bitcoin nears $64,000 after upbeat US manufacturing data
ETF flows and weak spot demand cap stronger gains
Investors await key US labour market data this week

Bitcoin traded near Rs. 60.6 lakh on Tuesday as the cryptocurrency market edged higher after stronger-than-expected US manufacturing data improved investor confidence. However, weak spot demand and inconsistent institutional participation continued to limit broader gains. Ethereum (ETH) was trading near Rs. 1.76 lakh, reflecting mixed movement across the broader crypto market. Investors are also closely watching upcoming US labour market data, which could influence expectations for a September Federal Reserve rate increase. As per CoinMarketCap data, BTC trades at $63,500 (roughly Rs. 60.76 lakh) and Ethereum is trading at $1,854 (roughly Rs. 1.78 lakh).

The world's largest cryptocurrency declined 1.32 percent in the last 24 hours, as per the Gadgets 360 price tracker. Stronger US economic data and improving global risk sentiment have supported Bitcoin's move closer to the $64,000 (roughly Rs. 61 lakh) mark. However, analysts also said that weak spot demand, cautious derivatives positioning, and inconsistent US spot Bitcoin ETF flows continue to restrain the recovery.

Crypto Markets Discussion

Explore More...

Major altcoins traded with mixed momentum on Tuesday.

Binance Coin (BNB) was priced around $589.14 (roughly Rs. 56,178), while Solana (SOL) traded near $73.66 (roughly Rs. 7,022). XRP hovered around $1.07 (roughly Rs. 102), and Dogecoin (DOGE) traded near $0.070 (roughly Rs. 6.7), indicating selective buying among large-cap cryptocurrencies.

Binance Announces Delisting of Six Tokens, Sets August 7 Futures Deadline

Improving Economic Data Supports Recovery Across Crypto Markets

Providing a broader market outlook, Vikram Subburaj, CEO, Giottus.com, said, “Markets are focused on US job openings and Friday's employment report, which could influence expectations for a September Federal Reserve rate increase [...] Investors should avoid chasing short-term gains. Staggered buying, limited leverage and disciplined position sizing remain prudent until Bitcoin clears $64,100 (roughly Rs. 61.11 lakh) with stronger ETF and spot demand.”

Commenting on the latest market trends, the CoinSwitch Markets Desk said, “The ISM Manufacturing PMI climbed to 55.6, its highest reading since 2022, suggesting that business activity continues to gain momentum. For markets, this strengthens expectations that investors could gradually increase exposure to risk assets, including crypto. The data is also worth watching beyond Bitcoin. Periods of sustained economic expansion have historically created a supportive backdrop for higher-risk segments of the crypto market, with capital gradually flowing into altcoins after Bitcoin establishes strength.”

Sharing his outlook on the broader market, Avinash Shekhar, Co-Founder and CEO, Pi42, said, “Fresh inflows into spot Bitcoin ETFs signal that institutional appetite remains intact, even as retail interest in the US has slipped to one of its lowest levels in years. This divergence reflects a maturing market where long-term capital is beginning to carry more weight than short-term sentiment [...] Investors should focus on where institutional money is flowing and how the broader crypto ecosystem is evolving, rather than reacting to short-term shifts in participation. Maintaining a diversified portfolio, accumulating quality assets systematically, and staying aligned with long-term investment objectives will be far more rewarding than chasing every market move.”

ZeroStack Faces Survival Challenge After Posting $82.5 Million Loss

Overall, analysts said improving macroeconomic conditions and lower oil prices have helped support Bitcoin's recovery toward the $64,000 mark. However, inconsistent ETF flows, subdued spot-market demand, and upcoming US labour market data are expected to determine whether the cryptocurrency can break above the $64,100 (roughly Rs. 61.11 lakh) resistance level and sustain further gains.

Galaxy’s Thorn Identifies Suspected Fourth Coldcard Attack Involving 448 BTC

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Cryptocurrency Prices across Indian exchanges

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Further reading: Crypto markets, Crypto Prices, Bitcoin, Ethereum

Rahul Dhingra

Email Rahul Dhingra

Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More