Bitcoin Surges to $80K as US Spot ETF Inflows Hit 10‑Month High

⚡ Key Financial Takeaways

Bitcoin’s price rose 23% last week, reaching around $80,000 – the largest weekly gain in over three years.

US spot Bitcoin ETFs recorded net inflows of $1.92 billion on Aug. 20, the highest in 10 months and the biggest single‑day inflow in more than three months.

BlackRock’s iShares Bitcoin Trust contributed $1.3 billion of the inflows; meanwhile $2.9 billion has been drained from spot ETFs this year.

Bitcoin’s Rally and Price Surge Bitcoin surged 23% last week, its biggest weekly gain in more than three years, pushing the price to roughly $80,000 in New York trading. The rally was sparked by U.S. plans to boost long‑dated bond buybacks and a short squeeze that forced traders to unwind bearish positions, adding breadth to the rally.

US Spot ETF Inflows Break 10‑Month Record On Aug. 20, 13 U.S.‑listed Bitcoin spot ETFs attracted a net inflow of $1.92 billion – the highest since early October 2023. The inflows included a single‑day peak of $606.3 million. BlackRock’s iShares Bitcoin Trust alone drew $1.3 billion, making it the top contributor. This inflow follows a week of $390 million outflows, the largest outflow in six weeks, highlighting a sharp shift in investor sentiment.

Market Sentiment and Outlook Despite the surge, $2.9 billion has been drained from Bitcoin spot ETFs this year, raising questions about the durability of the rally. Analysts suggest that while the market remains well‑supported, consolidation or a retracement could occur after such a rapid move. The continued inflow momentum indicates sustained demand, but timing and depth of a new bull cycle remain uncertain.