Overview
- Bitcoin surged above $81,200 on Tuesday, Aug. 25 before profit‑taking and a hotter than expected PCE print pushed it back to the $77,500–$79,500 band.
- U.S. spot Bitcoin ETFs supplied the bulk of buying pressure with single‑day flows around $336 million and more than $2 billion of inflows over the prior week led by BlackRock’s IBIT.
- The U.S. Treasury’s Aug. 19 announcement to significantly expand long‑dated bond buybacks helped lower yields and weaken the dollar, a backdrop that supported risk assets including Bitcoin.
- Derivatives amplified moves as short covering and large liquidations ran into the billions, open interest and RSI readings climbed into overbought territory, and a roughly $6.4 billion options expiry could create strong hedging flows.
- Market participants say a weekly close above roughly $83,000 is the clearest technical sign of a sustained bull phase and traders are watching Jackson Hole Fed remarks, Nvidia earnings, and the Sept. 16 Fed decision for the next directional trigger.