, continued to remain weak on Aug. 5 without much good news. The cryptocurrency market, which had rebounded from low-priced buying the previous day, fell slightly as the favorable factors that could sustain the market\'s rise disappeared. While Bitcoin protected the $114,000 level, altcoins rose slightly. In particular, Ethereum(ETH) recorded an increase of more than 3%, driving the rise of altcoins. Institutions\' purchase of Ethereum and sound on-chain signals were cited as reasons for the rise of Ethereum. Fo', 'https://img.blockstreet.co.kr/photo/2024/11/13/20241113000007_0640.jpg', 'https%3A%2F%2Fwww.blockstreet.co.kr%2Fnews%2Fview%3Fud%3D2025080516452965889'));){kind=link}
BTC Holds Around $114K Same As The Day Before
Altcoin Stays Strong on Aug. 5 as ETH Rises
Expert "BTC Also Downs Further Following Past History"
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The cryptocurrency market, which had rebounded from low-priced buying the previous day, fell slightly as the favorable factors that could sustain the market's rise disappeared. While Bitcoin protected the $114,000 level, altcoins rose slightly.
In particular, Ethereum(ETH) recorded an increase of more than 3%, driving the rise of altcoins.
Institutions' purchase of Ethereum and sound on-chain signals were cited as reasons for the rise of Ethereum. Foreign media AI Invest reported that Ethereum's supply of the Central Exchange (CEX) reached its lowest level in two years, and Ethereum holders are focusing on accumulating rather than selling. Currently, about 22.8 million Ethereum are held in hardwallet.
The trading volume of Ethereum spot ETFs in the U.S. reached $123.5 billion in July, according to data from financial data platform SoVelho on the 3rd.
◇Bitcoin = Bitcoin price is $113,925 at 4:30 p.m. on Aug. 4, 2025. Bitcoin share(Dominance) stood at 61.60%.
The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 58.89% and 41.11%, according to the on-chain analytics platform Sigbtc.
Based on Bitcoin's past precedents, an analysis has been raised that Bitcoin could fall further. Bitcoin is usually based on an analysis that tends to fall in August.
"Bitcoin has generally been a weak trend every August," Matrixport said. "The recent U.S. employment indicators have increased macroeconomic uncertainty, which is the key to this decline." It also believed that risky assets, including Bitcoin, could show a weak trend until a clear recovery appears in the market fundamentals.
◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Aug. 5 was Gas(GAS), up about 7% on the day alone.
Gas is NEO's "satellite" coin and is the native token of the Neo blockchain. Neo is called the "Chinese version of Ethereum" and is a coin with a "DeFi platform" that can perform smart contracts. Every block in the Neo blockchain generates more than a certain amount of gas, which is used as a fee for the implementation and operation of Neo smart contracts.
◇Fear Greed Index = Digital asset fear-greed index provided by Alternative has entered the 'greed' phase with 60 points. The greed phase is a phase where price volatility and trading volume increase, and the price increases. The government should be cautious about selling products as it is highly likely to form a short-term high.
The cryptocurrency relative strength index(RSI) provided by Sigbtc was 45.9, which was in a 'neutral' state. RSI sets the relative strength between the upward and downward pressure of a particular asset price and is an indicator of a measure of over-purchasing and over-selling of a particular asset.
권승원 기자 ksw@blockstreet.co.kr