Cryptopolitan Report: Bitcoin Had Its Best Week Since March 2023 & Only 30% of Our Readers Think It Leads to $100K

The total crypto market saw over $474 billion flood back in after a single line from the U.S. Treasury Department announcement. We asked our newsletter readers if they thought the move was real and had more legs to the upside. Most of them are waiting on Congress before they call it.

The Move Itself

Bitcoin’s opening price on Monday, August 17 was around $62,800 and by Friday it closed around $77,700, briefly touching a high of roughly $79,500. That’s a move of over 23% within the span of seven days, its strongest weekly return since March 2023. In dollar terms, BTC added close to $14,000 within five days and saw over $280 billion added to its market cap in the same timeframe.

The altcoin move was even more explosive. The TOTAL2ES chart on TradingView, which tracks the combined market cap of all cryptocurrencies excluding Bitcoin and stablecoins, saw a +28.93% weekly candle. This was its biggest move since November 2024.

XRP rallied over 48% over the past week while Ethereum climbed over $2,400 with a gain of roughly 29%. Zcash ran 71% on a Grayscale ETF conversion filing. Other legacy alts like BNB, Chainlink, Cardano and Dogecoin all saw double digit gains as well.

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