Bitcoin Falls to $77K After Overnight Push Toward $80K

U.S. spot Bitcoin ETFs brought in $606 million on Aug. 20, while Ether ETFs attracted $221 million. Both amounts were higher than the previous day, reinforcing the view that institutional demand is contributing to Bitcoin’s latest surge.

Long-term U.S. Treasury yields started the week close to multi-decade highs before sliding after the Treasury announced plans to increase its buyback operations on Wednesday. Yields then climbed sharply Thursday as investors questioned whether Treasury Secretary Scott Bessent and his team could limit upward pressure on interest rates.
Ahead of Friday’s U.S. equity session, Treasury yields were broadly unchanged. The 10-year yield was around 4.70%, approximately four basis points below its level at the beginning of the week.
While expectations for Fed tightening have declined, markets still see a meaningful possibility of rate hikes before year-end. CME FedWatch data showed traders assigning a 35% probability to a September increase and a 66% probability of a hike by the end of the year.
One month earlier, markets had priced in roughly a 90% chance of at least one Fed rate increase by year-end.

Standard Chartered strategist Geoff Kendrick said the latest move illustrates how volatility can work in both directions across digital assets.
Kendrick said short liquidations were responsible for a significant portion of Bitcoin’s gains this week, but he expects continued upside to depend on fresh spot demand from buyers.
Bitcoin ETF inflows have begun to strengthen, although Kendrick said the increase remains relatively small when viewed over a longer period. He expects daily inflows could eventually reach $1 billion.
He also suggested that his $100,000 year-end Bitcoin target may be too low if current momentum continues.
Bitcoin briefly came within a few dollars of $80,000 overnight before retreating below $77,000. Even after the pullback, BTC remained about 6.6% higher over the previous 24 hours.

Bitcoin gained more than 6% over 24 hours and reached an intraday peak of $79,500, lifting crypto-related equities.
Strategy climbed around 10%, while Coinbase and MARA Holdings each gained about 6%. Galaxy Digital added approximately 5%.

Mati Greenspan, founder of Quantum Economics and a former senior analyst at eToro, said Bitcoin has displayed strong momentum in recent sessions.
He said the current setup resembles past market bottoms, which often begin with a short squeeze, a large bullish candle and a move through key technical resistance. Traders previously expecting BTC to fall toward $40,000 may now be reconsidering their strategy as they rush to participate in the rally.

Bitcoin reached $79,500 before retreating below $78,000. It remained more than 6% higher over 24 hours and had gained over $15,000 during the previous week.
Gold climbed to $4,600 per ounce after gaining another 2%, while silver moved toward $70 following a rise of more than 2.5%.

Bitcoin climbed to $77,010 on Friday, gaining 7.67% and extending its recovery from below $64,000 earlier in the week.
BTC traded between approximately $71,115 and $77,000 over the previous 24 hours, pushing its market capitalization above $1.5 trillion.
Despite the recovery, Bitcoin remains roughly 39% below its October high near $126,000. The move therefore represents a recovery within a broader downtrend rather than a return to record levels.
The sharp pace of the rally remains a key concern. Rapid gains can unwind quickly if momentum fades, making next week’s ETF flows important for determining whether the breakout has genuine staying power.

Anthropic is reportedly considering an IPO that could match or surpass SpaceX’s record offering, according to Bloomberg. The company behind Claude could publicly file as soon as the end of August, although the final deal size and valuation remain undecided.
SpaceX raised $75 billion in its June debut, the largest IPO on record, with the amount eventually reaching $86.2 billion after the overallotment option was exercised. An Anthropic offering above that figure would create a new IPO record and highlight the intensity of investor demand for AI exposure.
AI companies and crypto assets have competed for institutional capital throughout 2026. Major AI offerings from companies such as SpaceX, OpenAI and Anthropic have drawn funds that could otherwise have gone into crypto, coinciding with Bitcoin’s significant ETF outflows in June.
The latest timing presents a different picture. Anthropic is preparing for a potential mega-IPO at the same time Bitcoin has broken above $75,000 amid strong ETF inflows, suggesting investors are currently willing to allocate heavily to both AI and crypto.

Bitcoin broke through $76,000 on Friday and reached $76,858 at its intraday peak. BTC was up more than 4.5% over the previous 24 hours.

U.S. spot Bitcoin ETFs recorded $606 million in inflows on Aug. 20, rising from $517 million the previous day. Ether ETFs attracted another $221 million, according to SoSoValue.
XRP ETFs brought in $13 million, while Solana ETFs recorded $15 million. Every listed asset category saw inflows, marking another day of stronger institutional participation in the Bitcoin breakout.
The figures suggest the rally is being supported by more than forced short covering. Bitcoin moved above $69,000 on Wednesday and $72,000 on Thursday, while ETF inflows increased on both days.
Bitcoin traded near $75,500 on Friday after reaching $72,344 Thursday, preserving most of its weekly gains.
However, the pace of the rally remains a concern. BTC moved from below $64,000 to above $72,000 within three days, and such rapid advances can experience sharp pullbacks once buying momentum weakens.
ETF flows will be closely watched going forward. Continued strong inflows next week would provide additional evidence of a sustainable breakout, while a sharp decline in demand could suggest the move was primarily a short-lived surge.

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