Bitcoin Stalls as Global Markets Hit New Records, Glassnode Reveals Why

TL;DR:

• Bitcoin spot ETFs recorded net inflows of $211.5 million on August 4, 2026, while Ethereum ETFs added $53.8 million.
• A total of 155,000 BTC accumulated between $62,000 and $65,000, becoming the largest on-chain cost basis cluster at 0.7% of the circulating supply.
• Upside implied volatility in the options market fell to an all-time low of 23%, according to records from analytics firm Glassnode.

Last Tuesday, the Bitcoin price stalled near $64,000, showing a divergence from the record highs reached by Wall Street stock indices. According to analysis from Glassnode and Wintermute, this behavior reflects a market compressed into a phase of temporary stillness.

The digital asset market experienced conflicting capital flows between institutional vehicles and spot trading during early August 2026.

U.S. Bitcoin ETFs captured $211.5 million in net inflows on Tuesday, August 4. Reports presented by Wintermute indicate that the S&P 500 closed at a record 7,737 points, while the Nasdaq rose 2.6% driven by tech sector earnings.

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