Live: Bitcoin Retreats to $77K After Nearing $80K Overnight

• U.S. spot Bitcoin ETFs attracted $606 million on Aug. 20, while Ether ETFs brought in $221 million. Both figures exceeded the previous day’s totals, strengthening the case that institutional demand is supporting Bitcoin’s latest rally.

Bond Yields Hold Steady After a Turbulent Week

• Long-term U.S. Treasury yields began the week near multi-decade highs before dropping sharply after Wednesday’s announcement of larger buyback operations. They then rebounded strongly on Thursday as traders questioned whether Scott Bessent and the Treasury could successfully contain borrowing costs.
• Ahead of Friday’s U.S. stock-market open, Treasury yields were little changed. The 10-year yield stood at 4.70%, around four basis points below its level at the start of the week.
• Although expectations for monetary tightening have eased, markets are still pricing in the possibility of Fed rate increases before year-end. CME FedWatch data put the probability of a September hike at about 35%, while the odds of at least one hike by December stood at 66%.
• A month earlier, traders had assigned roughly a 90% probability to one or more Fed rate increases by the end of 2026.

‘Volatility Has Two Sides in Digital Assets’

• Standard Chartered’s Geoff Kendrick said Friday that the recent market action highlights the two-way nature of volatility in crypto as Bitcoin moves sharply higher.
• Kendrick believes short liquidations contributed significantly to Bitcoin’s surge this week, but he expects the next stage of the rally to depend more heavily on fresh buyers.
• ETF inflows have started accelerating, although Kendrick said the broader trend remains relatively small and is still in its early stages. He expects Bitcoin ETFs could eventually record a $1 billion daily inflow.
• Kendrick also warned that his year-end Bitcoin target of $100,000 could prove too conservative if the current momentum continues.
• Bitcoin came within a few dollars of $80,000 overnight before retreating below $77,000. Despite the pullback, BTC remained up about 6.6% over the previous 24 hours.

Crypto Stocks Rally as Bitcoin Nears $80K

• Bitcoin climbed more than 6% over 24 hours, reaching an intraday high of $79,500 and lifting crypto-related equities. Strategy rose 10%, while Coinbase and MARA Holdings gained about 6% each.
• Galaxy Digital also advanced roughly 5% as the broader crypto market strengthened.

Analyst Says Bitcoin’s Setup Resembles a Market Bottom

• Bitcoin has shown strong momentum over the past several days, according to Mati Greenspan, former senior market analyst at eToro and founder of Quantum Economics.
• Greenspan said the current pattern resembles previous market bottoms, which often begin with a short squeeze, followed by a powerful bullish candle and a break above key technical levels. Traders who had been waiting for much lower prices may then rush to enter the market to avoid missing the rally.

Bitcoin Reaches $79,500 Before Pulling Back

• Bitcoin climbed as high as $79,500 before slipping back below $78,000. The cryptocurrency remained more than 6% higher over 24 hours and had gained more than $15,000 over the previous week.
• Gold also reached a record $4,600 an ounce after rising another 2% over 24 hours, while silver approached $70 following a gain of more than 2.5%.

Bitcoin Crosses $77K as Rally Accelerates

• Bitcoin reached $77,010 on Friday, gaining 7.67% for the day and extending a rally that lifted it from below $64,000 earlier in the week.
• BTC traded within a 24-hour range of roughly $71,115 to $77,000, pushing its market capitalization above $1.5 trillion.
• Despite the rebound, Bitcoin remains about 39% below its October peak near $126,000. That makes the current move a recovery within a broader downtrend rather than a return to record territory.
• The speed of the rally remains a key risk. A sharp vertical move can reverse quickly once momentum weakens, making ETF flows next week an important indicator of whether the breakout represents sustainable demand or a temporary short squeeze.

Anthropic IPO Could Rival SpaceX in AI-Crypto Capital Race

• Anthropic is reportedly targeting an IPO that could match or surpass SpaceX’s record offering, according to Bloomberg. The Claude developer could file publicly as soon as the end of August, although the valuation and deal size remain subject to change.
• SpaceX raised $75 billion in its June debut, making it the largest IPO on record, before its overallotment pushed the figure to $86.2 billion. An Anthropic offering above that level would establish a new IPO record and highlight the intense investor appetite for AI exposure.
• The competition for institutional capital has been a major theme across financial markets this year. AI listings, including SpaceX and planned offerings from OpenAI and Anthropic, have competed with crypto for investor funds, a dynamic that coincided with Bitcoin’s heavy ETF outflows in June.
• The current timing is notable because Anthropic’s potential mega-IPO is emerging just as Bitcoin breaks above $75,000 on record ETF inflows, suggesting AI and crypto are attracting strong capital demand at the same time rather than simply competing for the same pool of money.

Bitcoin Breaks Above $76K

• Bitcoin pushed through $76,000 on Friday, reaching an intraday high of $76,858 and extending its 24-hour gain to more than 4.5%.

Bitcoin ETFs Attract $606M as Institutional Demand Accelerates

• U.S. spot Bitcoin ETFs received $606 million on Aug. 20, up from $517 million a day earlier. Ether ETFs attracted another $221 million, according to SoSoValue data.
• All listed assets recorded positive flows, with XRP ETFs bringing in $13 million and Solana ETFs attracting $15 million. It marked a second consecutive day of stronger institutional buying as Bitcoin broke higher.
• The inflows provide evidence that the rally may be supported by genuine demand rather than being driven entirely by short covering. Bitcoin moved above $69,000 on Wednesday and then cleared $72,000 on Thursday, while ETF inflows increased on consecutive days.
• Bitcoin traded around $75,500 on Friday after reaching $72,344 on Thursday, retaining much of its weekly advance.
• The rapid pace of the move remains a concern. Bitcoin climbed from below $64,000 to above $72,000 in only three days, and such steep rallies can retrace quickly when momentum begins to fade.
• ETF flows will therefore remain a key signal. Continued buying into next week would provide stronger support for the breakout, while a sharp slowdown could suggest the move was more of a short-lived spike than the beginning of a sustained trend.

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