Bitcoin’s $80K Breakout Bid Fades as Price Slides to $77K -

U.S. spot Bitcoin ETFs attracted $606 million on Aug. 20, while Ether ETFs brought in $221 million. Both totals were higher than the previous day, adding to evidence that institutional investors are backing Bitcoin’s latest surge.

Long-term U.S. Treasury yields started the week near multi-decade highs before falling sharply after Wednesday’s announcement of expanded Treasury buybacks. Yields then reversed higher Thursday as traders questioned whether Treasury Secretary Scott Bessent and the administration could keep borrowing costs contained.
Ahead of Friday’s U.S. stock-market opening, Treasury yields were broadly unchanged. The 10-year yield stood at 4.70%, about four basis points below its level at the beginning of the week.
Markets have scaled back expectations for Fed tightening but continue to price in a possibility of rate hikes this year. CME FedWatch data showed a 35% probability of a September hike and a 66% chance of rates rising by year-end.
Just a month earlier, traders had assigned roughly 90% odds to at least one Fed rate hike before the end of the year.

Standard Chartered’s Geoff Kendrick said the recent move shows how volatility can amplify gains as well as losses in digital assets.
Kendrick estimated that short liquidations were responsible for a large portion of Bitcoin’s advance this week. He said the next stage of the rally will need to be supported by new buying rather than forced covering.
ETF inflows are beginning to accelerate, although Kendrick said the current increase remains relatively small compared with what could come next. He expects daily inflows could eventually reach $1 billion.
The strength of the move has also prompted Kendrick to reconsider his $100,000 year-end forecast, which he now says could be too low.
Bitcoin briefly traded within a few dollars of $80,000 overnight before retreating below $77,000. Despite the pullback, BTC remained about 6.6% higher over the previous 24 hours.

Bitcoin climbed more than 6% in 24 hours, reaching $79,500 and lifting publicly traded crypto companies.
Strategy gained about 10%, while Coinbase and MARA Holdings each rose around 6%. Galaxy Digital added roughly 5%.

Mati Greenspan, founder of Quantum Economics and a former eToro market analyst, said Bitcoin’s recent momentum is notable.
He said the current setup resembles previous market bottoms, which often feature a short squeeze, a strong bullish candle and a break above important technical levels. Traders who had expected BTC to fall toward $40,000 may now be reconsidering those forecasts and entering the market to avoid missing the rally.

Bitcoin climbed to $79,500 before falling back below $78,000. It was still up more than 6% over 24 hours and had gained more than $15,000 over the previous week.
Gold also climbed to $4,600 an ounce, adding 2%, while silver approached $70 after rising more than 2.5%.

Bitcoin reached $77,010 on Friday, gaining 7.67% and extending its rebound from below $64,000 earlier in the week.
BTC’s 24-hour range stretched from roughly $71,115 to $77,000, pushing its market capitalization above $1.5 trillion.
Even after the recovery, Bitcoin remained about 39% below its October record near $126,000. The current rally therefore represents a recovery within a broader downtrend rather than a return to all-time highs.
The rapid pace of the advance remains a concern. Sharp rallies can reverse quickly once momentum fades, making next week’s ETF flows critical to determining whether Bitcoin’s breakout can hold.

Anthropic is reportedly considering an IPO that could match or surpass SpaceX’s record offering, according to Bloomberg. The company behind Claude could file publicly by the end of August, although the eventual valuation and offering size remain uncertain.
SpaceX raised $75 billion in its June debut, setting the record for the largest IPO, before the total climbed to $86.2 billion after its overallotment option was exercised. A larger Anthropic offering would establish a new IPO record and underline investor enthusiasm for AI.
AI and crypto have competed for institutional capital throughout the year. Major AI offerings, including SpaceX and potential listings from OpenAI and Anthropic, have attracted funds that might otherwise have moved into crypto, coinciding with Bitcoin’s heavy ETF outflows in June.
The current setup is notable because Anthropic’s potential mega-IPO is emerging as Bitcoin pushes above $75,000 on strong ETF demand. Both AI and crypto are now attracting significant investor interest simultaneously.

Bitcoin moved above $76,000 on Friday, reaching a session 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, compared with $517 million the previous day. Ether ETFs added $221 million, according to SoSoValue.
XRP ETFs brought in $13 million, while Solana ETFs attracted $15 million. All listed asset categories recorded inflows, marking another session of accelerating institutional demand.
The data suggests Bitcoin’s advance is being supported by more than short covering. BTC broke above $69,000 on Wednesday and $72,000 on Thursday as ETF inflows strengthened for a second consecutive day.
Bitcoin traded near $75,500 on Friday after reaching $72,344 Thursday, retaining most of its weekly gains.
Still, the speed of the rally could become a risk. Bitcoin climbed from below $64,000 to above $72,000 in only three days, and such rapid moves can retrace once momentum weakens.
ETF flows will be closely watched in the coming week. Sustained buying would strengthen the case for a durable breakout, while fading inflows could indicate that the move was largely driven by a short-term squeeze.

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