Holds Near $63K as HYPE and LINK Outperform

TLDR

• Bitcoin traded near $63,460 on Monday, up 0.7% daily but still 2.3% lower over the week.
• Hyperliquid’s HYPE gained 3.4% daily and 8.7% weekly, outperforming most large-cap coins.
• Chainlink’s LINK rose 15.7% over seven days, one of the biggest weekly gains in the top 20.
• U.S. spot Bitcoin ETFs saw $390 million in net outflows last week, reversing the prior week’s inflows.
• Bitcoin faces resistance near $65,000–$66,000, with $60,000 acting as the main support level.

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Bitcoin traded around $63,460 during Asian hours on Monday, August 17. The price was up 0.7% over 24 hours.

Over the past week, though, Bitcoin remained 2.3% lower. It had fallen from above $65,000 the week before.

The cryptocurrency’s market capitalization stood near $1.27 trillion. The broader crypto market was valued at roughly $2.24 trillion.

Bitcoin dominance held close to 57%. Most large-cap coins posted small daily gains, but weekly results were mixed.

Bitcoin fell as low as $62,500 on Friday. It stabilized over the weekend and climbed back above $63,000.

Other major coins moved in different directions. Ethereum traded near $1,900, up 1% daily but down slightly for the week.

XRP stayed near $1.00, down 2.8% weekly. Solana traded around $75.47, roughly flat on the week.

ETF Outflows Mark a Reversal

Spot Bitcoin ETFs recorded about $390 million in net outflows between August 10 and August 14. Fidelity’s FBTC accounted for roughly $153 million of that total.

This is a shift from the previous week. Bitcoin ETFs had attracted $853.5 million in inflows across five straight sessions before that.

Spot Ethereum ETFs saw a smaller outflow of $2.26 million for the week.

HYPE and LINK Outperform the Market

Hyperliquid’s HYPE token traded near $58.81. It gained 3.4% daily and 8.7% over seven days, giving it a market cap near $13.1 billion.

Hyperliquid reported $169 million in second-quarter revenue. The platform directed $141 million of that toward HYPE buybacks.

Chainlink’s LINK traded near $9.45, up 15.7% for the week. Monero also outperformed Bitcoin, rising 4.9% weekly to around $413.84.

Among the top 100 coins, Bitway rose 22.3% daily, the strongest performer in that group. Stable and Quant posted the largest daily losses, falling 3.7% and 3.6%.

Bitcoin’s chart shows the price consolidating below the $65,000–$66,000 resistance band. The $60,000 level continues to act as the main support floor.

The Federal Reserve will release minutes from its July meeting on Wednesday, August 19. Officials voted 9-3 to hold rates at 3.5%-3.75% at that meeting.

The post Bitcoin (BTC) Price: Holds Near $63K as HYPE and LINK Outperform appeared first on Blockonomi.

Source: https://blockonomi.com/bitcoin-btc-price-holds-near-63k-as-hype-and-link-outperform/