Bitcoin began Monday, August 17, 2026, close to the $64,000 level as crypto traders watched the next move from the US Federal Reserve. BTC rose above $64,000 for a short time in Asian market hours, but the move did not lead to a strong market rise. At the time of the latest reports, Bitcoin traded near $63,000 to $64,000. One report put BTC at $63,605 after a rise of about 0.9%, while another placed it at $63,336.
The price move shows a market with little confidence. Bitcoin has some support near its current level, but traders have not yet pushed it far above $64,000. The asset also remains down almost 3% over the past week. That makes the $64,000 mark very important for the short-term price trend. A clear move above this level could improve market mood, while another failure could keep pressure on BTC.
The Federal Reserve is the main focus
The biggest reason for the cautious mood is the US Federal Reserve. Traders want more clues about US interest rates and future money policy. The Fed’s July meeting minutes are due on Wednesday, August 19. The report may show how Fed officials view inflation, rates and the wider US economy.
This matters for crypto because Bitcoin often reacts to changes in market liquidity and interest rate views. If traders expect lower rates or easier money, assets such as Bitcoin can get more support. If the Fed shows a stronger concern about inflation, traders may expect tighter policy for longer. That can put pressure on assets seen as higher risk.
The market has already seen some relief from lower expectations of an immediate US rate hike. A softer US dollar also gave Bitcoin some help on Monday. Yet this support was not strong enough to push BTC far beyond $64,000.
Bitcoin faces a key price test
Bitcoin’s current price zone has become an important technical area. BTC fell close to $62,670 early on August 17 before it recovered. Later data showed the price near $63,577.91. This quick recovery showed that buyers still had some interest near the lower part of the range.
At the same time, Bitcoin has faced pressure near the $64,000 level. The market has not yet shown enough strength for a clear break above that area. A move above $64,000 could give traders more confidence. A move below the recent support area could create a new test of lower prices.
Gadgets 360 also reported that Bitcoin fell below $63,000 on Monday and tested its 200-week moving average. That level matters to many market traders because it can act as a long-term price guide. The same report said recent US spot Bitcoin ETF outflows reached about $390 million.
ETF demand remains weak
Bitcoin exchange-traded funds in the US are another major part of the current market story. These products give large investors a simple way to gain Bitcoin exposure without holding BTC directly.
Recent weak ETF flows have raised concern about demand from large investors. Reports on August 17 put recent outflows at about $385 million to $390 million. This means more money has left US spot Bitcoin ETFs than entered them over the period covered by the reports.
This matters because strong ETF demand can provide extra support for Bitcoin. Weak demand can have the opposite effect, especially when the wider market already has concerns about rates, regulation and global risk.
The ETF data does not mean that Bitcoin must fall. It does, however, show that large investors are not giving the market the same level of support that traders would like to see.
Ethereum stays below $1,900
Ethereum also had a modest recovery on Monday, but its broader trend remained weak. Ether rose more than 1% at one point and traded just below $1,900. Even after that rise, ETH was down about 1% over seven days.
The move shows that the market issue is not limited to Bitcoin. Ethereum has also struggled to build a strong upward move. Traders remain focused on macro factors, ETF flows and overall risk appetite.
Ethereum often sees larger price moves than Bitcoin during periods of strong market confidence. The lack of a major ETH move on August 17 suggests that traders remain careful with risk.
XRP and Solana also face pressure
XRP traded close to $1 on Monday. It added a small amount on the day but remained down about 3% over the past week. Solana also showed only a small daily rise and traded just above $75. SOL remained down almost 2% over seven days.
These figures show a clear split between short-term price moves and the wider weekly trend. Several major coins saw small gains on Monday, but their seven-day results remained negative.
That is important because a real market recovery usually needs more than a one-day price rise. Traders will want to see Bitcoin hold higher levels while major altcoins also gain strength. So far, that broader move has not appeared.
A few coins perform better
Not every crypto asset had a weak week. Hyperliquid’s HYPE token stood out as one of the stronger major assets. It rose more than 3% on Monday and was almost 9% higher over seven days.
Dogecoin also gained almost 1% and traded near 7 cents. Tron rose by less than half a percent and traded just above 33 cents. BNB slipped slightly and sat near $604.
These moves show that money is not leaving every part of the crypto market at the same rate. Some tokens still have their own sources of demand. Yet Bitcoin remains the main market guide, so a strong move from BTC could have a large effect on the rest of the sector.
Global risk adds more pressure
Crypto traders also face wider global risks. Renewed tension in the Middle East has hurt risk appetite, while the lack of progress in US crypto rules has added another source of uncertainty.
The market also faces doubt over the US Clarity Act, a major crypto law that could help define rules for digital assets. Slow progress on the bill has reduced some of the optimism that had helped the crypto sector earlier in the year.
These issues matter because crypto does not trade on its own. Bitcoin reacts to US rates, the dollar, global risk, investor demand and policy news. When several risks appear at the same time, traders often reduce their exposure.
What traders may watch next
The Federal Reserve minutes will be the next major test for the market. Traders will look for signs that could alter their view of US rates. A softer tone could help Bitcoin and other risk assets. A stricter tone could put more pressure on the market.
Bitcoin’s price near $63,000 to $64,000 will also remain important. A firm break above $64,000 could give the market a better short-term signal. A fall below recent support could bring fresh concern, especially if ETF outflows continue.
For now, the crypto market sits in a careful position. Bitcoin has not collapsed, but it has also failed to show a strong recovery. Ethereum remains below $1,900, XRP stays close to $1, and Solana sits near $75.
The key message from August 17 is simple: Bitcoin still has buyers near $63,000, but traders want more proof before they turn fully positive. The Fed minutes, ETF data and global risk will help decide whether BTC can move past $64,000 or faces another test of lower support.
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