Bitcoin Price Posts Record Weekly Gain, but Can $80K Hold Next?

TLDR

• Bitcoin recorded its largest weekly dollar gain ever, adding $14,264 to close at $77,387.
• BTC gained 22.7% in seven days, bringing the key $80,000 level into focus.
• U.S. spot Bitcoin ETFs attracted $1.92 billion in net inflows during the week ended Aug. 21.
• The Crypto Fear & Greed Index rose to 78, its highest level since December 2024.
• Bitcoin strengthened against both the U.S. dollar and gold, with the BTC-to-gold ratio reaching 16.73 ounces.

Bitcoin (BTC) recorded its largest weekly dollar gain on record, rising $14,264 to close at $77,387. The move marked a 22.7% increase in seven days and pushed the Bitcoin price closer to the $80,000 level watched by traders.

The rally followed the U.S. Treasury Department’s decision to expand its buyback program. Market sentiment improved quickly, while the Crypto Fear & Greed Index climbed to 78, its highest reading since December 2024.

Bitcoin Price Gains Support From ETF Inflows

Demand also strengthened across U.S. spot Bitcoin ETFs. Funds recorded $1.92 billion in net inflows during the trading week ended Aug. 21, according to SoSoValue data.

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