Bitcoin Just Had Its Best Week In More Than Three Years, But The $80,000 Threshold Is Proving Hard To Hold

Bitcoin (BTC) reached a 3-month high of $81,000 on Aug. 25, driven by a broader crypto rally and a short squeeze following the U.S. Treasury's bond buyback announcement. $240 million in Bitcoin short positions were liquidated in 24 hours, according to CoinGlass. The U.S. Treasury also announced new sanctions against Iran, targeting digital assets among other sectors. Analysts attribute the surge to liquidity hopes and structural shifts in global finance, with Bitcoin trading at $78,364 at the ti

Bitcoin steadied near US$78,350 after a recent pullback. The SEC's proposed crypto custody rule changes are under White House review, aiming to clarify regulations for institutional investors. ETF inflows slowed to US$5.8 million on August 26, down from previous days. Ether and Solana showed minor gains, while XRP fell about 5%. The market awaits Fed insights from Jackson Hole for further direction.

Bitcoin closed at $79,027, up 0.59%, recovering from a dip after a hotter-than-expected US inflation report. Ethereum rose 2.58% to $2,506, while Solana surged 5.76% to $102.17. XRP fell 0.76% to $1.4224, signaling leveraged position unwinding. Latin American crypto purchases were 98% stablecoins in Brazil, according to the Central Bank of Brazil.

Major cryptocurrencies fluctuated on Wednesday after a higher-than-expected inflation report. Bitcoin ranged between $77,600 and $79,200, while Ethereum briefly reached $2,500. XRP and Dogecoin declined. Crypto-related stocks MSTR and BMNR fell 2.87%. Bitcoin's open interest dropped 1.95%, indicating long-position exits. Analysts noted potential support levels for Bitcoin at $76,400-$77,100.

Bitcoin rose 0.2% to $78,739.7, retreating from $80,000 after U.S. PCE data showed steady inflation at 3.7%, complicating Fed rate cut expectations. Bernstein predicts Bitcoin could reach $150K by mid-2027 and $300K by 2029. Altcoins showed mixed movements, with Ether up 2.5% and XRP down 3.1%.

Bitcoin ETFs attracted $2.56 billion in new investment last week, with $652 million this week alone, according to Farside Investors. Bitcoin's price rose nearly 25% to $78,302. The surge follows Treasury liquidity-support buyback operations and positive regulatory news from the White House.