Bitcoin Stabilizes Near $80,000 Amid ETF Inflows and Market Analysis

Original author: ChandlerZ, Foresight News

From August 17 to 23, Bitcoin rose from $62,818 to $77,593, according to Galaxy Research, marking a weekly increase of $14,775—the largest single-week dollar gain in Bitcoin’s history. In percentage terms, the 23.5% rise ranks 41st out of 840 weekly candles since July 2010, but it is the highest weekly gain since March 2023.

As the price base of Bitcoin rises, a gain ranking only 41st in historical percentage terms can now generate amounts never seen before.

As of August 28, Bitcoin reversed downward after breaking above $81,500 and continues to fluctuate near the $80,000 level. U.S. spot Bitcoin ETFs have become a key indicator of whether this rally can be sustained; according to daily totals from Farside Investors, net inflows totaled $2.8019 billion over eight consecutive trading days from August 17 to 26, bringing the cumulative net inflow to approximately $3.282 billion as of August 26.

Glassnode divides this market cycle into two phases: the short liquidation on August 19 triggered the upward move, followed by spot funding from ETF inflows, declining exchange balances, and increased holdings across wallet sizes. Between August 14 and 25, BTC-denominated open interest in futures fell from 645,760 BTC to 587,584 BTC, a decline of approximately 9.0%, reaching its lowest level in nearly five months. During the same period, open interest backed by BTC and other crypto assets as margin dropped to around 52,000 BTC, accounting for just 11% of total futures open interest, with cash and stablecoin margins now dominating.