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Ether edges higher as bitcoin stays range-bound near $65,000

China gold imports rose for a third straight month in June to about 173 tonnes, while analysts said ETF flow composition could matter as much as headline numbers for crypto.

Reported · Written up by our desk · Market Structure

Ether led gains in crypto as prices moved higher, while bitcoin remained the defensive anchor, holding in a range around $65,000, according to CoinDesk’s live updates.

CoinDesk cited Jeff Ko, chief analyst at CoinEx, saying bitcoin is likely to stay range-bound based on three macro factors, including oil’s retreat after a pause in U.S. Iran hostilities, the 10-year Treasury yield approaching 4.7%, and expectations that the Fed may keep optionality ahead of upcoming PCE inflation and second-quarter GDP data.

Ko also pointed to a corporate catalyst, noting this week’s mega-cap earnings from Apple, Microsoft, Meta, and Amazon could influence Treasury yields and the Nasdaq via free cash flow and AI spending guidance, which can affect liquidity feeding into crypto.

Alongside the price action, CoinDesk reported China’s gold purchases increased for a third straight month in June to about 173 tonnes, the highest since March 2024, with officials and retail investors adding to demand through bank-led savings plans. It also reiterated that China bans crypto and stablecoin trading and mining to curb capital flight and financial fraud.

Latest closeGold $4,055.70 ▲0.2%|Bitcoin $65,239.45 ▼0.1%|Nasdaq Comp. 24,975.82 ▼0.6%

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