Bitcoin and Ethereum Gain Ground as Altcoins, DeFi Tokens Decline Sharply in Early August 2026
Bitcoin stabilized near $64,000 and Ethereum posted modest gains in early August 2026, while the broader cryptocurrency market experienced significant rotation away from altcoins. DeFi tokens crashed 38.7% and stablecoins declined 5% as traders moved toward large-cap cryptocurrencies amid geopolitical uncertainty and anticipation of the U.S. CLARITY Act.