Crypto Market Update August 5: Bitcoin Gains on Rising ETF Inflows as PUMP, HYPE Top Altcoin Gains

The crypto market is up today, August 5, as easing geopolitical tensions drive an increase in buying pressure. Bitcoin (BTC) is up by 0.60% to trade at $64,046 at the time of writing, while Pump Fun (PUMP) and Hyperliquid were the top gainers among altcoins after gaining by 12% and 4%, respectively.

What’s Driving the Crypto Market Today?

Data from CoinMarketCap shows that the total crypto market cap is up by 0.79% to $2.19 trillion at the time of writing. The gains come after reports that the US and Iran are making good progress in negotiating for an end to the conflict that started in February 2026.

CoinMarketCap also shows that most of the top ten cryptos apart from Ripple (XRP), Tron (TRX) and Dogecoin (DOGE) were trading in the green.

The bullish sentiment from the easing tensions has even overshadowed the bearish sentiment coming from rising odds that the CLARITY Act bill will not pass in 2026. Data from Polymarket shows that there is only a 13% chance that the bill will pass this year.

Besides easing geopolitical tensions, Bitcoin is also gaining because of rising demand toward risk assets that pushed the S&P 500 index to an all-time high of 7,775 points on August 4.

Crypto Market Snapshot For Today

• Total Crypto Market Cap: $2.19 trillion (+0.79%)
• 24 Hour Trading Volumes: $55.4 billion
• Bitcoin Price: $64,046 (+0.50)
• Ethereum Price: $1,867 (+0.20%)
• Bitcoin Dominance: 58.7%
• Ethereum Dominance: 10.3%
• Altcoin Season Index: 43/100
• Fear and Greed Index: 27 (Fear)

Derivatives Market Analysis

Data from Coinglass shows that the total open interest across the crypto market is up by 1.37% to $114 billion.

Bitcoin and Ethereum account for 66% of this total OI, with BTC’s OI standing at $48 billion while that of Ethereum stands at $26 billion.

The total liquidations across the crypto market have also reached $204 million today, August 5, with Bitcoin and Ethereum posting liquidations of $34 million and $15 million, respectively.

The liquidation chart above also shows that the liquidations affected 69,047 traders, with the biggest single liquidation order occurring on Binance, where a BTC/USDC position worth $6.45 million was wiped out.

BTC Technical Outlook as ETF Inflows Surge

Bitcoin price is moving within a rising channel on the four-hour chart, suggesting that there is more buying pressure than selling pressure.

The RSI reading of 56 also supports a bullish long-term Bitcoin price forecast. The AO bars that are green and growing in length also suggest that crypto market bulls are tightening their grip on the BTC price.

If Bitcoin closes above the obstacle at the top of this channel at $64,545, the price could move to the July 27 high of $65,700.

This gain could come from rising institutional demand because Bitcoin ETFs have seen two straight days of inflows per data from SoSoValue. These ETFs have seen $381 million in inflows this week alone, and they could be headed for their best week since May 2026 if these inflows continue until August 7.

PUMP and HYPE Technical Outlook

PUMP is the biggest gainer in the crypto market today, August 5, after rising by 12% to trade at $0.0025 at the time of writing. The price of PUMP is now up by 34% between July 29 and August 5, and if the uptrend continues, PUMP could reach the next obstacle at $0.0030.

The RSI reading of 73, however, warns that PUMP is close to being overbought, and this might cause the price to correct and drop to the psychological support of $0.0020, where new buyers may be found.

HYPE price is also a top gainer in the crypto market today after making a rounded bottom pattern that often suggests that the long-term Hyperliquid price forecast is bullish.

If HYPE price continues to rise, it could reach the psychological resistance at $60. This rounded pattern has a height of 17%, and this is how much the price of Hyperliquid could gain if it closes above $60 for three straight days.

Catch up on yesterday’s biggest moves in our crypto market update August 4.