Key Highlights
- Bitcoin advanced 4.3% to reach $81,069, momentarily surpassing $82,000 for the first time in nearly four months
- Federal Reserve Governor Waller indicated support for maintaining current interest rates, relieving downward pressure on digital assets
- Spot Bitcoin ETFs in the United States recorded $730.9 million in inflows Thursday, marking the strongest day since mid-January
- IBIT from BlackRock dominated with $454 million in inflows, representing approximately 62% of total flows
- Market analysts at CryptoQuant highlighted concerns about limited new demand, identifying $83,000 as a critical resistance point for sustained upward momentum
Bitcoin extended its winning streak on Friday, gaining 4.3% to trade at $81,069 as the leading digital currency posted its third consecutive week of positive performance. During Thursday’s trading session, BTC momentarily crossed the $82,000 threshold, marking its highest point in approximately four months.
The upward momentum stemmed primarily from diminishing fears surrounding potential US interest rate increases. Federal Reserve Governor Christopher Waller indicated to Reuters his preference for maintaining the current rate structure at the central bank’s forthcoming policy meeting, especially if upcoming inflation figures demonstrate moderation.
Waller’s statements catalyzed a pronounced decline in US Treasury yields. This development carries significant implications for Bitcoin, as the cryptocurrency exhibits heightened sensitivity to yield fluctuations due to its risk-on characteristics. In the wake of Waller’s commentary, CME Fedwatch data showed the likelihood of a September rate increase declining to 50.4%, a notable drop from the 60%+ probability registered earlier in the trading week.
Market analyst Ash Crypto highlighted on X that Bitcoin successfully penetrated the Weekly 50-day moving average positioned at $80,400, characterizing the move as a “massive breakout.” The analyst pinpointed $83,000 as the subsequent critical resistance threshold, noting that a weekly closing price above the 50 MA would validate the emergence of a fresh bull cycle.
Spot ETF Flows Reach Eight-Month Peak
United States spot Bitcoin exchange-traded funds captured $730.9 million in net positive flows on Thursday, representing the most substantial daily accumulation since January 14, when these investment vehicles attracted $843.6 million. This significant influx followed a comparatively modest $101.2 million recorded during the previous trading day.
BlackRock’s iShares Bitcoin Trust (IBIT) dominated inflows with $454 million, capturing roughly 62% of aggregate flows. The ARK 21Shares Bitcoin ETF (ARKB) contributed $137.7 million, while Fidelity’s FBTC secured $74.4 million in new capital. VanEck’s HODL and WisdomTree’s BTCW stood as the only products experiencing capital withdrawals, registering outflows of $19.6 million and $5.2 million respectively.
Regulatory Developments Boost Market Sentiment
SEC Chairman Paul Atkins contributed to the optimistic market atmosphere by announcing his expectation for a Senate vote on the Clarity Act scheduled for September 15. He urged congressional members to approve the legislation and forward it to President Trump before month’s end. Atkins further revealed the SEC’s development of complementary crypto-focused legislation designed to function in tandem with the proposed act.
Strategy, the largest corporate holder of Bitcoin, experienced a nearly 18% surge on Thursday as cryptocurrency-related equities posted broad-based gains.
Analytics firm CryptoQuant observed that Bitcoin holders crystallized net profits of 23,000 BTC on August 21, representing the year’s largest single-day profit realization, suggesting active profit-taking activity during the price advance. The research firm identified Bitcoin’s 365-day moving average at approximately $82,300, a level that has historically served as a demarcation point between bullish and bearish market phases.
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