Bitcoin moves to reclaim $80,000 as Jackson Hole, U.S. PCE and ETF flows come into focus

Bitcoin posted a weekly close above its 50-week exponential moving average (EMA) for the first time since 2025, entering a pivotal phase for a bear-market rebound.

Cointelegraph reported on Sunday that bitcoin climbed to as high as $79,550 last week, rising as much as 27% over five trading days. Its weekly close on Bitstamp was $77,727. The market is viewing the move not as a simple bounce but as an attempt to regain the bear-market trendline.

Some still say it is difficult to conclude that a resistance break has been fully confirmed. Crypto trader Rekt Capital said around $80,000 remains a key resistance zone, and that sharp pullbacks followed strong surges in each prior bear-market rebound. He said the next few weeks are important, and it could become clear as early as next week whether bitcoin can hold its current high.

Bitcoin traded around $77,500 over the weekend and is up 22% in August. CoinGlass data show it is the strongest August performance since 2017. The rebound also put it back above $68,700, the average purchase price for short-term holders. CryptoQuant tallied net profitability for short-term holders at just over 11%, long-term holder profitability at 18.5% from around break-even, and new-money profitability rising to 12.7% from -1.4%.