Bitcoin 
Ethereum 
Tether 
Solana 
BNB 
XRP 
Dogecoin 
USDC 
Cardano 
Lido Staked Ether 
TRON 
Avalanche 
Shiba Inu 
Toncoin 
Wrapped stETH 
Wrapped Bitcoin 
Stellar 
Polkadot 
Chainlink 
Bitcoin Cash 
Sui 
WETH 
Pepe 
LEO Token 
NEAR Protocol 
Litecoin 
Aptos 
Uniswap 
Wrapped eETH 
Hedera 
Internet Computer 
Cronos 
USDS 
Ethereum Classic 
POL (ex-MATIC) 
Kaspa 
Render 
Bittensor 
Bonk 
Ethena USDe 
WhiteBIT Coin 
Artificial Superintelligence Alliance 
Arbitrum 
dogwifhat 
MANTRA 
Dai 
VeChain 
Cosmos Hub 
Stacks 
Filecoin 
Quick Take
Bitcoin has experienced a significant resurgence, surging approximately 25% from its recent lows of $49,000. The digital asset’s market capitalization has also rebounded, now standing around $1.2 trillion after dipping as low as $980 billion. Once again, this recovery firmly established Bitcoin as a $1 trillion asset class.
On Aug. 8, the market witnessed a substantial influx of buying activity, with $430 million in spot buying delta recorded. The Spot Cumulative Volume Delta (CVD), which tracks the net difference between buying and selling volumes, indicated the largest spot buying day since May 20, when Bitcoin reached $70,000.
The day’s performance was particularly notable, with Bitcoin gaining over 12%, marking its best day since February 2022, according to Glassnode.
Interestingly, despite this price surge, open interest in Bitcoin barely increased. The last time Bitcoin was at $60,000, on Aug. 4, there were 530,000 BTC allocated in open interest contracts, according to Coinglass data. This figure has since decreased to 471,000 BTC, suggesting a spot-driven rally.
