Bitcoin — key points
Price now: ~$79,000–79,200, roughly flat over the last 24h after a big run-up
Monthly gain: up over 20% in August; up 22-23% in just the past 7 days at the peak
Recent high: briefly touched ~$81,000-81,200 this week, first time above $80k since May
Why it's rallying:
- Softer US dollar
- Treasury Secretary Bessent's bond-market move pulled yields down, sparking the rally
- Spot Bitcoin ETFs pulled in $1B+ in the first two weeks of August ($517M in a single day, Aug 19)
- $1.5B in short positions got liquidated, adding fuel
- Optimism building around US crypto legislation after a Trump–Coinbase/Robinhood White House meeting
Still below highs: well under the 2026 high (~$94,820, mid-January) and all-time high (~$126,200, Oct 2025)
Outlook split: some see a breakout toward ~$83,700; others (e.g. Token Bay Capital) expect one more ~20% flush before the bear market truly ends, citing prior cycle patterns
