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Bitcoin reached an intraday high of $81,257 on August 25 before pulling back to trade around $78,000 in New York according to Bloomberg data that tracked the move as the first sustained push above the level since mid-May. The cryptocurrency has climbed roughly 27 percent over the past month with gains accelerating last week after the U.S. Treasury doubled buybacks of long-dated bonds in a bid to cap yields. Spot bitcoin exchange-traded funds drew $1.92 billion in net inflows during the week ended August 21 marking the largest such haul since October 2025 Bloomberg figures show.
CoinDesk reported that analysts view the next pullback as critical to test the rally’s durability with support expected in the $75,000 to $76,000 range should prices consolidate. Hashdex CIO Samir Kerbage said the region between $80,000 and $90,000 has very little historical volume and a sustained move above $83,000 might open the path toward testing the $100,000 area. LMAX Group strategist Joel Kruger attributed the advance to weaker Treasury yields dollar weakness renewed ETF demand and short liquidations that exceeded $4 billion across crypto derivatives in recent days.
The rally follows President Donald Trump’s call on Congress last week to pass legislation offering clearer definitions for digital assets which some market participants cited as additional positive sentiment according to Ventureburn coverage. Bitcoin remains well below its all-time high of approximately $126,000 reached in October last year even after posting its strongest weekly advance in about three years. Fundstrat analysts noted that the buying following the short squeeze suggests the move may prove more durable than a tactical bounce as stablecoin creation and trading volumes also picked up.
Approximately $179 million in cryptocurrency futures positions were liquidated in a four-hour window around the breach of $80,000 with short positions accounting for the majority CoinGlass data cited by Finance Feeds showed. The volatility came after bitcoin had dipped below $76,000 during the weekend before buyers quickly returned to reclaim prior highs. Such liquidations amplified price swings yet also cleared excess leverage that had built up during the preceding consolidation phase.
U.S. spot bitcoin ETFs recorded consecutive daily inflows exceeding $300 million on multiple days last week according to SoSoValue data that highlighted renewed institutional interest. The macroeconomic backdrop turned more supportive after Treasury Secretary Scott Bessent’s actions to calm the bond market and revive the so-called debasement trade across bitcoin and gold Bitget Wallet research analyst Lacie Zhang said. This environment has extended gains to other major tokens including ether which rose more than 30 percent over the past week.
Presto Research associate Min Jung described the advance as a catch-up trade since bitcoin had lagged other risk assets for some time while cautioning it remains too early to declare a full bull market given sticky inflation and geopolitical risks. A daily close above $82,000 would target the $88,000 level next according to technical assessments that identified $78,670 as immediate support. Market participants continue to monitor upcoming U.S. inflation data including the Federal Reserve’s preferred PCE gauge for further signals on the policy trajectory.
