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Bitcoin Holds Near $65,000 as ETF Inflows Help Offset Profit Taking

Bitcoin Holds Near $65,000 as ETF Inflows Help Offset Profit-Taking

Institutional demand continues to support crypto markets despite prolonged consolidation and profit-taking.

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 6 August 2026 14:05 IST

Bitcoin Holds Near $65,000 as ETF Inflows Help Offset Profit-Taking

Photo Credit: Unsplash/Kanchanara

Bitcoin trades in a narrow range as investors await the market’s next major catalyst

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Highlights

Spot Bitcoin ETFs continue attracting fresh institutional inflows
Long-term holders book profits as Bitcoin consolidates
Macro liquidity remains key to the market’s next move

Bitcoin traded near Rs. 60.9 lakh on Thursday as the cryptocurrency market remained range-bound, with steady institutional demand through spot Bitcoin ETFs helping offset profit-taking by long-term holders. Ethereum (ETH) was trading near Rs. 1.7 lakh, reflecting gains across the broader crypto market. According to market participants, Bitcoin continued to consolidate within a narrow range, with institutional inflows helping support prices despite selling by long-term holders, as investors awaited fresh macroeconomic catalysts. As per CoinMarketCap data, Bitcoin traded near $64,700 (roughly Rs. 61.6 lakh), and Ethereum (ETH) traded near $1,900 (roughly Rs. 1.8 lakh).

The world's largest cryptocurrency gained 0.4 percent over the last 24 hours, according to Gadgets 360's price tracker. Market participants also said investors continue to monitor broader macroeconomic indicators and liquidity conditions for the cryptocurrency's next major move.

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Major altcoins traded with mixed momentum on Thursday.

Binance Coin (BNB) was priced around $594.83 (roughly Rs. 56,646), while Solana (SOL) traded near $73.84 (roughly Rs. 7,031). XRP hovered around $1.04 (roughly Rs. 99), and Dogecoin (DOGE) traded near $0.070 (roughly Rs. 6.7), indicating selective participation among large-cap cryptocurrencies.

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ETF Inflows Help Bitcoin Hold Key Support

Sharing his assessment of current market conditions, Prateek Gupta, Head of Business, Mudrex, said, “Long-term holders sold more than 11,500 BTC during the first two days of August, signalling some profit-taking. However, institutional demand remains steady, with US spot Bitcoin ETFs attracting $381.6 million (roughly Rs. 3,634 crore) in net inflows over the past two trading sessions, helping prices stay supported.”

Commenting on the latest market trends, the CoinSwitch Markets Desk said, “US stocks remained firmly in rally mode, with the S&P 500 advancing to a new record high of 7,793, while gold touched a six-week high after rising 2.8 percent [...] Looking ahead, Bitcoin's price action is likely to remain closely tied to crypto-specific and macro liquidity indicators. Sustained spot ETF inflows, softer Treasury yields and a shift towards expectations of fewer Federal Reserve rate hikes could provide the conditions needed for a stronger recovery.”

Sharing his outlook on the broader market, Avinash Shekhar, Co-Founder & CEO, Pi42, said, “Fresh institutional activity in Ethereum reflects that sophisticated capital is quietly positioning itself for the next phase of the digital asset cycle [...] What stands out today is that capital is becoming far more selective. Instead of chasing every rally, investors are increasingly rewarding projects with clear utility, growing ecosystems and sustained institutional participation. This is a market where conviction matters more than excitement [...] In the coming months, patience and quality are likely to outperform impulsive trading.”

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Overall, analysts said Bitcoin continues to consolidate despite steady institutional demand through spot Bitcoin ETFs. However, long-term holder profit-taking, broader macroeconomic liquidity conditions, and Bitcoin's ability to reclaim $65,000 (roughly Rs. 61.89 lakh) are expected to determine the cryptocurrency's next directional move.

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Cryptocurrency is an unregulated digital currency, not a legal tender and is subject to market risks. The information provided in the article is not intended to be. It 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.

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Further reading: Cryptocurrency, Bitcoin, Ethereum, BTC, ETH

Rahul Dhingra

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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