Crypto market update: Here's how BTC, ETH, other altcoins are faring today

For BTC to regain bullish momentum, analysts believe that a confirmed breakout above $116,000 is necessary.

Crypto market update: The crypto markets were under pressure as the flagship currency, Bitcoin (BTC), traded below all key EMAs on the 1-hour chart, signaling short-term bearish momentum, while other popular altcoins were trading lower on Wednesday, August 6, 2025.

 

At the last check, Bitcoin was trading around $114,063.39, down 0.31 per cent, with a 24-hour trading volume of $58.97 billion. BTC has fluctuated in the range of $112,701–115,093 in the last 24 hours, according to data from CoinMarketCap. Bitcoin’s market capitalisation stood at $2.26 trillion, the highest among all cryptocurrencies.

Bitcoin faces resistance at $114,500- $115,500.

Edul Patel, Co-founder and CEO of Mudrex, said that Bitcoin is consolidating after attempting to break the resistance at $115,000. While price movement remains sideways, Glassnode’s Cost Basis Distribution Heatmap shows steady buying pressure at current levels.

 

For BTC to regain bullish momentum, Patel believes that a confirmed breakout above $116,000 is necessary.

 

“If successful, BTC could quickly move back into the $118,000–$120,000 range, pushing BTC towards new highs. On the downside, BTC could test $110,000 if the immediate support at $112,400 is breached,” said Patel.

 

Riya Sehgal, research analyst at Delta Exchange, on the other hand, believes that the next resistance for Bitcoin lies between $114,500 and $115,500. 

 

“Liquidity heatmaps suggest a possible move toward $115,500–$116,000 before a potential pullback. BTC ETFs saw $196.2 million in outflows on August 6, indicating institutional caution or profit-taking,” said Sehgal.  

Altcoins trade lower

The sentiment was weak among the altcoins as well. Ethereum (ETH), the sector's latest cryptocurrency by market cap, was trading lower by 1.38 per cent at $3,622.66.

 

For ETH, Sehgal believes that the next resistance lies at $3,750, in line with liquidity clusters in the $3,650–$3,750 zone. “ETH ETFs recorded $73.3 million in inflows, suggesting increased investor interest and expectations of volatility,” she added.

 

Furthermore, the market sentiment continues to remain neutral, while the volume increases by 26 per cent and the global market cap slightly drops below $3.75 trillion, according to the CoinDCX Research Team.  The top gainers for the day include Mantle with a rise of 14.63 per cent, followed by Pump.fun with a 4.03 per cent increase. On the other hand, Sonic (S) leads the top losers with a decline of 8.67 per cent, followed by Fartcoin with an 8 per cent drop, and Bonk & Pudgy Penguins each losing 7 per cent.