$BTC Bitcoin is back above $80,000, but the market is heading into a decisive 24 hours.
After briefly slipping below $79K earlier today, BTC saw aggressive buy-side demand and quickly reclaimed the $80K level.
$ETH Ethereum is holding steady around $2,4940 - $2,520,
$SOL Solana has pushed back above $104, and total crypto market capitalization sits between $2.75T and $2.78T.
The bounce is encouraging, but volatility remains elevated. For now, the broader bullish structure is still intact.
Institutional Demand Keeps The Bid Alive
The core support for this move continues to be spot ETF flows. U.S. Spot Bitcoin ETFs recorded approximately $1.92B in net inflows last week, marking multiple consecutive days of positive inflows.
This sustained institutional demand is the primary reason BTC continues to challenge and hold above $80K despite short-term shakeouts.
$6.4 Billion Options Expiry Puts $80K to the Test
The next major hurdle is tomorrow. On August 28, around 81,700 BTC options with a notional value of $6.4B are set to expire on Deribit.
Open interest is heavily concentrated around the $75K and $80K strikes, which sets the stage for increased volatility. Expect sharp up-and-down sweeps as market makers hedge. $80K is once again the key battleground to watch.
Regulatory and Ecosystem Updates
On the regulatory front, the SEC's proposed amendments to digital asset custody rules have entered White House review. If finalized, the changes would directly impact how investment advisers and qualified custodians handle crypto, potentially opening the door for much larger institutional capital inflows.
On Ethereum, the upcoming Glamsterdam upgrade has moved into pre-testing. The upgrade will adjust certain gas costs, which may affect a small number of smart contracts. No action is required for regular users, but development teams are advised to begin compatibility testing.
All Eyes on Jackson Hole
The biggest macro catalyst this week is still Jackson Hole. Fed Chair Kevin Warsh is scheduled to speak on August 28, and markets will be closely parsing his comments on interest rates, liquidity, and the future policy path.
Final Take
Bitcoin has reclaimed $80K, but this is more than just a recovery. With a $6.4B options expiry, the Jackson Hole meeting, and stretched sentiment all converging tomorrow, the real question for the market is no longer can BTC rise - it's whether $80K can finally flip from resistance into solid support
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