Bitcoin Price Prediction This Week: Will BTC Rally to $85K or Drop to $70K?

Bitcoin price hovered near $78,800 on August 30 after another rejection above $80,000 left traders watching two decisive boundaries. 

The wider crypto market rose 1.33% to $2.65 trillion, while the Fear and Greed Index reached 72. Improving sentiment, strong weekly gains, and sustained institutional interest favor upside. 

Bitcoin Price Holds Above $78,800 as Market Sentiment Improves

Bitcoin price held around $78,800 after failing to sustain an advance beyond $80,000. It also remained beneath the recent $81,265 peak, keeping resistance firmly in focus.

BTC price gained $14,775 during the week ending August 23, its largest weekly dollar increase. That 23.5% advance followed improving regulatory expectations, softer dollar conditions, and renewed demand for alternative assets.

Treasury plans to at least double long-end liquidity-support buybacks from September 9. That decision helped weaken the dollar narrative and supported Bitcoin’s role as a monetary hedge.

However, profit-taking appeared after the three-month high above $81,000. An RSI reading near 50 signals balanced momentum, while a positive MACD preserves the recovery structure.

Key Crypto Market Events to Watch This Week

Macroeconomic releases could determine whether Bitcoin escapes its range. Tuesday brings August’s ISM Manufacturing PMI and July’s JOLTS job-openings report.