Bitcoin has surpassed the $65,000 mark again, attributed to renewed inflows into U.S. Bitcoin spot exchange-traded funds (ETFs), which have helped restore some investor confidence.
According to CoinMarketCap, Bitcoin was trading at $65,040 as of 8 a.m. on August 10, reflecting a 0.22% increase from the previous day. The cryptocurrency had dipped to around $63,000 on July 28 before rebounding.
Market analysts believe that the influx of funds into U.S. Bitcoin spot ETFs has supported the price increase, with approximately 1 trillion won (about $850 million) flowing into these ETFs last week.
However, there are concerns that the delay in processing the CLARITY Act, a legislative proposal aimed at structuring the U.S. cryptocurrency market, may hinder further price increases. The U.S. Senate is currently on summer recess, and discussions on the CLARITY Act are expected to resume in mid-September.
Most major altcoins also showed upward trends. At the same time, Solana rose 1.10% to $76.96, while Ethereum increased by 0.13% to $1,918.53. In contrast, Ripple (XRP) fell 0.21% to $1.03.
The Fear & Greed Index, which reflects investor sentiment in the cryptocurrency market, recorded a score of 40, indicating a 'neutral' stance.
Meanwhile, on the domestic exchange Bithumb, Bitcoin was trading at approximately 91,309,000 won (about $64,712), down 0.33% from the previous day. The so-called 'Kimchi Premium,' which indicates the price difference between domestic and international markets, stood at -0.32%.
* This article has been translated by AI.
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