Live: Bitcoin Gives Up Gains After Testing $80K

U.S. spot Bitcoin ETFs recorded $606 million in inflows on Aug. 20, while Ether ETFs attracted $221 million. Both figures increased from the previous session, providing further evidence that institutional buying is supporting Bitcoin’s latest rally.

Long-dated U.S. Treasury yields began the week near multi-decade highs, then dropped sharply after the Treasury announced larger buyback operations Wednesday. They reversed higher Thursday as traders questioned whether Treasury Secretary Scott Bessent and the administration could successfully contain borrowing costs.
Treasury yields were little changed ahead of Friday’s U.S. stock-market open. The 10-year yield was around 4.70%, roughly four basis points below its level at the start of the week.
Expectations for Fed tightening have declined, but traders still see a possibility of rate hikes later this year. CME FedWatch showed a 35% chance of a September hike and a 66% probability of rates being higher by year-end.
A month ago, markets were pricing in about a 90% probability of at least one Fed rate increase before the end of 2026.

Standard Chartered’s Geoff Kendrick said the recent price action highlights how volatility can benefit digital assets in both directions.
Kendrick estimates that short liquidations accounted for much of Bitcoin’s sharp rise this week. He expects the rally’s next phase to require stronger participation from outright buyers.
ETF demand is beginning to accelerate, although Kendrick said the increase remains relatively modest compared with the potential scale of institutional buying. He expects daily ETF inflows could eventually reach $1 billion.
Kendrick also suggested that his $100,000 year-end Bitcoin target may prove too conservative if the current momentum persists.
Bitcoin briefly approached $80,000 overnight before slipping below $77,000. Even after the retreat, BTC remained up roughly 6.6% over the previous 24 hours.

Bitcoin climbed more than 6% over the past 24 hours and reached $79,500, pushing crypto-related stocks higher.
Strategy rose about 10%, while Coinbase and MARA Holdings gained roughly 6% each. Galaxy Digital advanced around 5%.

Mati Greenspan, founder of Quantum Economics and a former eToro market analyst, said Bitcoin has shown impressive momentum in recent sessions.
He said the price action resembles historical market bottoms, which often feature a short squeeze followed by a large bullish candle and breaks above key technical levels. Traders who had been waiting for BTC to fall toward $40,000 may now be reconsidering those expectations and moving to avoid missing the rally.

Bitcoin climbed to $79,500 before retreating below $78,000. BTC remained more than 6% higher over 24 hours and had added over $15,000 during the past week.
Gold climbed to $4,600 an ounce, gaining another 2%, while silver moved toward $70 after rising more than 2.5%.

Bitcoin reached $77,010 on Friday, rising 7.67% and extending its move from below $64,000 earlier in the week.
BTC traded between roughly $71,115 and $77,000 over 24 hours, taking its market capitalization above $1.5 trillion.
Bitcoin is still around 39% below its October peak near $126,000, meaning the latest move remains a recovery rather than a return to record highs.
The speed of the advance could become a vulnerability if momentum fades. Bitcoin’s ETF flows next week will be important in determining whether the breakout has lasting demand behind it.

Anthropic is reportedly weighing an IPO that could match or exceed SpaceX’s record offering, according to Bloomberg. The Claude developer could make a public filing as early as the end of August, although its valuation and offering size remain unsettled.
SpaceX raised $75 billion at its June debut, the largest IPO ever, with the total reaching $86.2 billion after the overallotment option was exercised. A larger Anthropic deal would set a new record and underscore the enormous appetite for AI investments.
AI and crypto have competed for institutional money throughout the year. The succession of major AI offerings, including SpaceX and potential listings from OpenAI and Anthropic, has diverted capital that might otherwise have flowed into crypto, coinciding with Bitcoin’s weakest ETF flows in June.
The current environment is different, however. Anthropic is preparing for a potentially record-breaking IPO as Bitcoin simultaneously breaks above $75,000 on strong ETF demand, suggesting investors are currently embracing both AI and crypto.

Bitcoin broke above $76,000 Friday, reaching an intraday high of $76,858 and gaining more than 4.5% over 24 hours.

U.S. spot Bitcoin ETFs recorded $606 million in inflows on Aug. 20, up from $517 million the previous day. Ether ETFs added another $221 million, according to SoSoValue.
XRP ETFs attracted $13 million, while Solana ETFs drew $15 million. All listed asset categories recorded positive flows, marking another session of stronger institutional participation.
The data suggests Bitcoin’s rally is being supported by genuine demand in addition to short covering. BTC cleared $69,000 on Wednesday and $72,000 on Thursday as ETF inflows strengthened on consecutive days.
Bitcoin traded around $75,500 Friday after reaching $72,344 on Thursday, retaining much of its weekly advance.
The rally’s pace remains a potential warning sign. BTC rose from below $64,000 to above $72,000 in three days, and such rapid advances can retrace sharply once momentum slows.
ETF flows will remain a crucial indicator. Continued strong inflows next week would reinforce the breakout, while weaker demand could indicate that the move was primarily a short-term squeeze rather than a lasting trend.