Stock Market LIVE Updates, Sensex Today: Sensex Sheds 300 Points Amid Uncertainty Over Strait of Hormuz

Vikram Subburaj, CEO, Giottus.comBitcoin slipped to approximately $64,000 on August 11, losing around 1.6% over 24 hours. Its market capitalisation stood at $1.28 trillion, while trading volume reached $22.3 billion. The retreat followed another unsuccessful attempt to hold above $65,000, with the price turning lower after touching $65,300 on August 10.The decline does not yet amount to a breakdown. Bitcoin remains inside the $62,500-$66,800 range that has contained it over the past few weeks. Immediate support lies between $63,300 and $63,800. The stronger floor is at $62,500-$63,000. A fall below this region would bring $60,000 back into consideration.On the upside, sellers have repeatedly emerged between $64,800 and $65,400. Bitcoin must first move through this supply before testing $66,500-$66,800. A daily close above $66,800, supported by higher volumes, would provide the first credible indication that the present recovery can extend towards $70,000. Until that happens, moves towards the upper end of the range remain vulnerable to profit-taking. Institutional demand improved substantially during the first week of August, but the latest session showed that the improvement is not yet consistent. US spot Bitcoin ETFs received $865.3 million over five consecutive sessions between August 3 and August 7. The sequence ended on August 10, when the funds registered a provisional net outflow of $91 million. Fidelity's FBTC lost $40.3 million, Bitwise's BITB recorded a $28.4-million outflow, and Grayscale's GBTC shed $52 million. These were partly offset by a $37.1-million inflow into Grayscale's smaller Bitcoin fund. Even after the reversal, the six-session balance remained positive at $774.3 million. This is a meaningful improvement from the weak flows seen earlier in 2026. It has helped Bitcoin recover from its late-June low near $58,000. However, an inflow of this size would ordinarily be expected to produce a stronger price response. Bitcoin's failure to clear $65,400 suggests that the ETF demand is being met by sufficient selling elsewhere in the market.Blockchain data explains part of that restraint. CryptoQuant estimates that Bitcoin whale holdings, excluding exchanges, mining pools, ETFs and corporate treasury companies, have risen from 2.87 million BTC in December 2025 to 3.06 million BTC. This represents an accumulation of approximately 190,000 BTC, or 6.6%. Whale balances nevertheless remain below their 2025 peak of 3.23 million BTC. This caution is also visible among altcoins. Ethereum declined 2.6% to approximately $1,876, while XRP fell 2.1% to $1.01. BNB lost 0.8% to trade near $600, and Solana slipped 1% to $75.82. TRON was the exception, gaining 0.1% to $0.3307. With four of the five largest non-stablecoin altcoins in negative territory, the decline was not confined to Bitcoin.Bitcoin dominance remained high at 58.7%, while the total crypto market capitalisation fell around 1.3% over 24 hours. The combination indicates a preference for liquidity and relative safety within the crypto market. It does not yet support the case for a broad altcoin recovery.The next direction will be influenced heavily by the US inflation report on August 12. Economists expect July headline inflation of approximately 3.4% and core inflation of 2.5%. The data have acquired added importance after the US economy unexpectedly lost 23,000 jobs in July, against expectations for an increase of around 80,000. Employment figures for May and June were also revised down by a combined 103,000. A softer inflation reading would reinforce the argument against another Federal Reserve rate increase and could help Bitcoin challenge $66,800. A hotter reading would push Treasury yields and the dollar higher, placing renewed pressure on crypto prices. The July Producer Price Index on August 13 will offer a second test of inflationary pressure.Attention will subsequently move to the July PCE inflation report on August 26 and the Jackson Hole symposium from August 27 to 29. The next Federal Open Market Committee meeting is scheduled for September 15-16. Our advice: For investors, the present range offers little reason to chase short-lived rallies. Staggered allocations are preferable to concentrated entries, particularly before the inflation release. Leverage should be kept low while Bitcoin remains below $66,800. A confirmed break above that level or below $62,500 would provide more useful information than the price movements taking place inside the range.