Bitcoin and the wider cryptocurrency market moved higher on Monday, as a weaker U.S. dollar and fading expectations of another Federal Reserve interest-rate increase encouraged investors to return cautiously to digital assets. The recovery remained measured, however, as continued exchange-traded fund withdrawals and delays to cryptocurrency regulation limited momentum.
At approximately 11:05 a.m. UAE time, Bitcoin traded at $63,513, rising 0.83 percent over 24 hours but remaining 2.26 percent lower over seven days. The world’s largest cryptocurrency had a market capitalization of $1.27 trillion and generated $11.97 billion in daily trading volume.
The overall cryptocurrency market was valued at approximately $2.18 trillion, up 0.58 percent over the previous day. Total 24-hour trading volume reached $34.48 billion, while Bitcoin dominance stood at 58.45 percent, reflecting the continued concentration of market value in the leading cryptocurrency.
Ether approaches $1,900
Ether advanced 1.18 percent to $1,898.76, placing it close to the psychologically important $1,900 level. The second-largest cryptocurrency remained down 0.74 percent for the week, with a market capitalization of $229.40 billion and daily trading volume of $4.97 billion.
Monday’s improvement coincided with broader weakness in the dollar. The dollar index falling 0.1 percent to 99.519, near its lowest level of August. Fed funds futures indicated a 69.9 percent probability that policymakers would leave interest rates unchanged at their September meeting, compared with 47.6 percent one month earlier.
Lower interest-rate expectations can support cryptocurrencies by reducing the relative appeal of yield-bearing dollar assets. Nevertheless, the modest scale of Monday’s gains showed that traders remained reluctant to make aggressive bets following the previous week’s losses.
Read more: Bitcoin falls 1.3 percent to $62,976 as ETF outflows outweigh softer U.S. inflation
Altcoins broadly advance
BNB edged 0.10 percent higher to $605.40, while XRP gained 0.26 percent to $1.0026. Solana increased 0.09 percent to $75.456, and TRON rose 0.37 percent to $0.323522. Dogecoin gained 0.64 percent to $0.070146, although its market capitalization remained limited to approximately $12.01 billion.
Hyperliquid was among the strongest major performers, rising 3.25 percent to $58.8770 and extending its seven-day gain to 8.66 percent. UNUS SED LEO increased 0.27 percent to $9.4443, while Zcash climbed 0.94 percent to $494.83. Monero advanced 1.10 percent to $414.339 and was 4.73 percent higher over the week.
Chainlink added 0.60 percent to $9.432, taking its weekly advance to 15.23 percent, the strongest seven-day performance among the larger non-stablecoin assets shown. Cardano rose 0.28 percent to $0.1772 but remained down 9.94 percent over seven days. Stellar gained 1.05 percent to $0.15824, while Bitcoin Cash increased 0.81 percent to $205.11.
Litecoin edged 0.07 percent higher to $44.26. Sui rose 0.31 percent to $0.6770, Avalanche gained 0.60 percent to $6.38 and NEAR Protocol advanced 1.81 percent to $1.6396. Bittensor increased 0.53 percent to $196.83, while Uniswap rose 0.71 percent to $3.2713 despite remaining 19.43 percent lower for the week.
Among other tokens, Cronos gained 0.43 percent to $0.04767, while Hedera fell 0.32 percent to $0.06494. OKB declined 0.43 percent to $103.50 but retained a weekly gain of 10.81 percent. Ondo advanced 3.48 percent to $0.33720, Mantle rose 2.21 percent to $0.4473 and Aave gained 0.61 percent to $86.68.
Worldcoin led the larger percentage gainers, climbing 4.33 percent to $0.363. Polkadot rose 1.31 percent to $0.767, Internet Computer gained 2.08 percent to $2.28 and MemeCore increased 0.81 percent to $1.18060. Aster slipped 0.08 percent to $0.6001, while Gram declined 0.17 percent to $0.5223.
Meme-token performance was mixed. Shiba Inu fell 1.63 percent to $0.00000444 and remained down 5.02 percent over seven days. Dogecoin’s smaller advance left it 0.61 percent higher for the week.
Gold-backed cryptocurrencies strengthened alongside precious metals. Tether Gold rose 0.27 percent to $4,377.80, while PAX Gold gained 0.24 percent to $4,394.00.
Stablecoins remain steady
Tether traded at $0.9996, up 0.01 percent, while USD Coin was virtually unchanged at $1.0009. Dai rose 0.03 percent to $0.99975, Ethena USDe gained 0.01 percent to $1.001 and Global Dollar added 0.01 percent to $1. PayPal USD slipped 0.01 percent to $1.0001, Ripple USD declined 0.01 percent to $1.00087 and USDD rose 0.01 percent to $1.
World Liberty Financial’s USD1 remained near $1, while its WLFI token jumped 3.75 percent to $0.0605. The move followed the conditional approval of a national trust-bank charter connected to the company. Canton was one of the weakest assets, falling 1.81 percent to $0.09496.
ETF outflows persist
Institutional demand remained a constraint. U.S. spot Bitcoin ETFs recorded $56.2 million in net withdrawals on Friday, following $131.1 million of outflows on Thursday Spot Ether ETFs registered no net movement on Friday after attracting $5.9 million one day earlier.
Regulatory uncertainty also remained elevated after the SEC canceled an August 14 meeting that was scheduled to consider a tailored offering framework for certain crypto assets, according to its official meeting page. Meanwhile, the Senate postponed further action on the Clarity Act until September, leaving Bitcoin and other cryptocurrencies dependent largely on macroeconomic sentiment and renewed institutional demand for their next sustained move.
