XRP, ether lead crypto losses as traders eye $70,000 bitcoin next
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- Bitcoin failed to hold $65,000 for a fourth consecutive day, slipping to near $64,000 on Tuesday — down over 1% on the day — though it remains marginally higher on the week.
- Ether led declines among major tokens, falling over 2% to $1,878, while XRP dropped almost 2% to $1.01 and is down nearly 6% on the week, the worst performer of the group by some distance.
- Solana eased under 1% to $76 but leads the week at 3%; BNB slipped to $600 with a 2% weekly gain, while HYPE rose nearly 2% to $55 and tron and dogecoin edged marginally higher.
- FxPro's Alex Kuptsikevich read the lack of buying as bitcoin tests $65,000 as a build-up of short positions above the level rather than holders taking profit, making $70,000 — near bitcoin's 200-day moving average — the next threshold that could shift sentiment.
- The crypto sentiment index sits at 30 in the 'fear zone' and has stayed there since mid-July with occasional dips toward extreme fear.
- Brent crude held at $87.73 after jumping 5% on Monday when President Trump made fresh demands on Iran, and U.S. 10-year Treasury yields rose 6 basis points to 4.71%, both feeding inflation worries ahead of Wednesday's 8:30 a.m. ET data release.
- U.S. spot bitcoin funds took in $865 million across five sessions through Aug. 7 before a provisional $91 million outflow on Monday.
Why it matters: Bitcoin's repeated failure to clear $65,000 is hardening resistance, and breaking $70,000 — near the 200-day moving average — would be the first real sentiment shift since the fear index locked at 30 in mid-July. Until then, the $865 million in fund inflows through Aug. 7 is already unwinding, with $91 million exiting Monday.
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