Here’s a quick recap of the crypto landscape for Wednesday (August 6) as of 9:00 a.m. UTC.
Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ethereum price update
Bitcoin (BTC) was priced at US$114,217, down by 0.8 percent over the last 24 hours. Its highest valuation on Wednesday was US$112,770, while its lowest valuation was US$114,830.
Bitcoin price performance, August 6, 2025.
Chart via TradingView
Bitcoin is showing signs of support between US$117,000 and US$118,000, with technical analysts suggesting a possible rebound toward resistance levels at US$120,250 and beyond, if bullish momentum builds.
However, sentiment remains cautious amid ongoing interest rate uncertainty, macroeconomic pressures and ETF outflows, all of which are weighing on near-term price action.
Ethereum (ETH) was priced at US$3,619.63, down by 1.4 percent over the past 24 hours. Its lowest valuation on Wednesday was US$3,557.78, and its highest was US$3,673.
Altcoin price update
Solana (SOL) was priced at US$164.44, down by 3.9 percent over 24 hours. Its lowest valuation on Wednesday was US$161.45, and its highest was US$170.84.
XRP was trading for US$2.95, down by 3.8 percent in the past 24 hours. Its lowest valuation of the day was US$2.91, and its highest valuation was US$3.06.
Sui (SUI) is trading at US$3.41, down 4.2 percent over the past 24 hours. Its lowest valuation of the day was US$3.34, and its highest was US$3.55.
Cardano (ADA) was trading at US$0.7274, down by 3.2 percent over 24 hours. Its lowest valuation on Wednesday was US$0.7117, and its highest was US$0.751.
Today’s crypto news to know
Bitcoin ETFs see four days of outflows as stagflation fears ramp up
Spot bitcoin ETFs in the US recorded net outflows for the fourth day in a row, shedding nearly US$200 million on Tuesday alone.
Fidelity’s FBTC and BlackRock’s IBIT were the biggest sources of withdrawals, contributing to a total outflow of US$1.46 billion since last Thursday.
The trigger appears to be rising concerns around stagflation, following weaker-than-expected US service sector data.
The ISM Non-Manufacturing PMI pointed to slowing growth, declining employment, and rising prices, which represents a toxic mix for risk assets like crypto and tech stocks.
Bitcoin slipped below US$113,000 before recovering slightly, while the Nasdaq also dropped 0.7 percent on the day.
Meanwhile, bets on Federal Reserve rate cuts are growing, but uncertainty remains high.
SBI Files Japan’s first Bitcoin–XRP ETF application
Japanese financial giant SBI Holdings has filed for an ETF that includes both Bitcoin and XRP, aiming to offer regulated dual-crypto exposure in Japan.
The proposed product, revealed in SBI’s Q2 earnings report, would allow investors to track the performance of both assets in a single fund, a rare pairing in the global ETF space.
A second ETF proposal, the Digital Gold Crypto ETF, blends over 50% exposure to traditional gold ETFs with crypto assets backed by gold. This hybrid structure targets more conservative investors looking for crypto upside with commodity stability.
If approved, this would mark the first time XRP is included in a regulated ETF product in Japan, as it continues to face institutional barriers in the US due to its regulatory history.
Liquid staking is not a securities offering — SEC clarifies
In a major development for the crypto industry, the SEC’s Division of Corporation Finance stated that certain types of liquid staking do not constitute the sale of securities, according to a statement.
Specifically, tokenized staking receipt products, such as staked ETH derivatives, are not considered investment contracts unless they’re bundled into schemes that meet the legal definition.
This clarification provides a green light for platforms offering protocol-level staking services without requiring registration. Liquid staking allows users to earn rewards while still being able to trade or use a representative token, maintaining asset flexibility.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.