Bitcoin holds at $62,600 as Ethereum stays flat, investors cautious
Bitcoin is holding at $62,600 (about ₹59.5 lakh) this Monday, with Ethereum also flat at $1,852 (about ₹1.76 lakh).
Weak US spot Bitcoin ETF flows and slow trading are keeping the crypto market quiet.
Even though lower oil prices have helped ease inflation worries, August usually isn't great for Bitcoin: returns tend to drop by nearly 7%.
That, plus inconsistent ETF demand, has left investors feeling cautious.
Major players grabbed 40,100 BTC July
Despite the slow vibe, major players grabbed over 40,100 BTC in July, so some are still betting big on crypto.
US spot Bitcoin ETFs saw $172.4 million in net inflows last month, and Ethereum ETFs pulled in even more ($365 million), showing institutions aren't backing out just yet.
Analysts say a real turnaround might need Bitcoin to break past $64,000 to $65,000.
Meanwhile, altcoins like Binance Coin ($581.87), Solana ($72.79), and Dogecoin ($0.07) are seeing mixed action as traders remain selective and careful.