Beyond Bitcoin's price
Bitcoin and the broader crypto market softened over the past week, with Bitcoin slipping from above US$65,000 to around US$62,900 by the end of the weekend. The move reflected ETF outflows towards the end of. . .
Bitcoin and the broader crypto market softened over the past week, with Bitcoin slipping from above US$65,000 to around US$62,900 by the end of the weekend. The move reflected ETF outflows towards the end of the week and continued caution around digital asset treasury companies, with MSCI still reviewing how companies with significant crypto holdings should be treated in global equity indexes. Over the seven days to 16 August 2026, Bitcoin and Ethereum were lower by -2. 76 and -1. 98%, respectively. Bitcoin’s market capitalisation fell to US$1. 26 trillion, while the global crypto market sits at US$2. 17 trillion. Bitcoin’smarket dominanceis at 58. 4%. PriceHighLowChange from previous weekBTC (in US$)$62,990$65,277$62,576-2. 76%ETH (in US$)$1,878$1,928$1,858-1. 98%Source: CoinMarketCap. As at 16 August 2026. Past performance is not indicative of future performance. Performance is shown in US dollars and does not consider any USD/AUD currency movements. Source: Glassnode. Past performance is not indicative of future performance. Crypto news we’re watchingRegulation slows the tokenisation tradeTokenisation-linked stocks came under pressure after it was reported that the SEC were further delaying their anticipated “innovation exemption” framework, slowing the momentum behind Wall Street’s push into blockchain-based market infrastructure. The move highlights that, while major financial institutions are increasingly exploring tokenised stocks, funds and Treasurys, regulatory approval remains a key bottleneck before the theme can move at scale. 1Tokenisation continues to look like one of crypto’s clearest institutional use cases, but the path will not be linear. For markets, the takeaway is that adoption is advancing, but it will move at the pace regulators allow. Tether takes a step toward transparencyMarking a major credibility milestone for the issuer of the world’s largest stablecoin. The audit comes after years of scrutiny over the quality and transparency of Tether’s reserves, and as stablecoins move deeper into the regulated financial system2. As stablecoins become more important to payments, trading and digital dollar infrastructure, transparency standards are being forced higher. For Tether, a Big Four audit helps strengthen institutional credibility, but the broader point is that stablecoin issuers are increasingly being pushed to operate more like financial infrastructure companies than crypto-native balance sheets. CRYP company spotlightUSDC volumes keep scaling through weaker crypto conditionsCircle shares edged higher after its second-quarter earnings beat expectations, with an EPS of US$0. 18 coming in above forecasts despite revenue missing estimates. The company is leaning into broader USDC use cases beyond crypto trading, including tokenised assets, payments and its new Arc blockchain with partners including BlackRock, Visa and Mastercard. 3Circle Internet Group is held in theBetashares Crypto Innovators ETF (ASX: CRYP)4. CRYP provides exposure to global companies at the forefront of the crypto economy. 5Bitcoin (BTC): Holder Retention RateThe Holder Retention Rate tracks the percentage of addresses that continue holding an asset from one 30-day period to the next. A higher rate suggests stronger holder conviction, while a lower rate can point to weaker confidence or increased selling pressure. According to Glassnode data, as of 15 August 2026 Bitcoin’s holder retention rate was around 81. 6%. The decline from recent highs suggests short-term conviction has weakened, with more holders exiting positions. However, the rate remains above earlier lows, pointing to fading confidence rather than broad capitulation. Source: Glassnode. Past performance is not indicative of future performance. Bitcoin (BTC): Short Term Holder Realised PriceShort-Term Holder Realised Price shows the average price paid by investors who bought Bitcoin within the past 155 days. When Bitcoin trades above this level, recent buyers are generally in profit. When it trades below it, they are generally underwater, which can increase selling pressure if weaker holders choose to exit. According to data from Glassnode as of 16 August 2026, Bitcoin was trading around US$63,017, below the short-term holder realised price of approximately US$68,539. This means recent buyers are generally underwater, which can keep selling pressure elevated. A move back above this level would suggest confidence among newer holders is improving. Source: Glassnode. Past performance is not indicative of future performance. Altcoin newsMost Top 20 altcoins were in the red, however Chainlink LINK clearly bucked the trend, up over 12% in the last 7 days and over 14. 6% in the last month. LINK is a decentralised oracle network designed to deliver trustworthy, real-world data to smart contracts on the blockchain. The move has been supported by stronger trading activity, with daily spot volume up 115% and derivatives turnover rising 140%, pointing to renewed market interest. LINK holder numbers also reached a record 3. 96 million, while active addresses doubled, suggesting participation is broadening beyond short-term traders6.