Overview
- Bitcoin climbed about 28% over eight days and hit an intraday peak near $81,265 on Tuesday, Aug. 25 before retreating into the roughly $77,000–$79,000 range as traders took profits.
- Ethereum rose roughly 30% from mid‑August highs to trade above $2,500 and posted overbought daily indicators, with the daily RSI signaling stretched momentum that could invite a pullback.
- U.S. spot ETFs were a major driver of demand, with on‑chain trackers reporting daily inflows of roughly $336 million for Bitcoin and seven‑day Bitcoin ETF inflows around 26,499 BTC while spot ETH funds logged large weekly inflows.
- Derivatives amplified moves in both directions: an initial short squeeze forced massive short coverings worth billions and then flipped into concentrated long liquidations of about $324.4 million over 24 hours, roughly $270 million of which hit longs.
- The market’s next direction depends on whether continued institutional spot buying sustains the move and on key tests such as a weekly Bitcoin close above about $83,000, an Ethereum weekly close above roughly $2,550, and near‑term macro and regulatory catalysts.