📊 Saw it turn sideways for six weeks, and then worked my way up to $78K in a week.
Bitcoin spent nearly six weeks grinding between $60K and $70K. Traders were about ready to lose their minds. This week, it finally broke out.
The spark came on August 19, when Trump gathered a group of crypto executives and regulators at the White House and urged Congress to pass the CLARITY Act. The market is betting that U.S. regulation will actually take shape. On August 20, Bitcoin broke above $75K for the first time since late May. Then at night it tested $80K again, and it’s back at $78,414 now.
Money is genuinely flowing in. On August 20, spot Bitcoin ETFs saw net inflows of $606M, and Ethereum $221M—both higher than the day before. XRP led the broader market higher, up 16%.
But don’t rush to call it a bull market. That Wednesday’s 7.1% surge had more than half of the gain squeezed into just one hour, and trading volume was only about one-third of the day’s total. That’s the telltale sign of shorts getting squeezed, not a slow, steady bull run. Analysts are split into two camps: one says breaking key levels is the start of a new bull market; the other says it’s just a burst of “fake fire” fueled by short covering.
The direction really has changed. Whether the base is truly solid depends on whether this ETF money keeps coming in next.
$BTC
#中本聪国际社区Baoluo币商资本 #比特币 #CLARITYAct
Bitcoin spent nearly six weeks grinding between $60K and $70K. Traders were about ready to lose their minds. This week, it finally broke out.
The spark came on August 19, when Trump gathered a group of crypto executives and regulators at the White House and urged Congress to pass the CLARITY Act. The market is betting that U.S. regulation will actually take shape. On August 20, Bitcoin broke above $75K for the first time since late May. Then at night it tested $80K again, and it’s back at $78,414 now.
Money is genuinely flowing in. On August 20, spot Bitcoin ETFs saw net inflows of $606M, and Ethereum $221M—both higher than the day before. XRP led the broader market higher, up 16%.
But don’t rush to call it a bull market. That Wednesday’s 7.1% surge had more than half of the gain squeezed into just one hour, and trading volume was only about one-third of the day’s total. That’s the telltale sign of shorts getting squeezed, not a slow, steady bull run. Analysts are split into two camps: one says breaking key levels is the start of a new bull market; the other says it’s just a burst of “fake fire” fueled by short covering.
The direction really has changed. Whether the base is truly solid depends on whether this ETF money keeps coming in next.
$BTC
#中本聪国际社区Baoluo币商资本 #比特币 #CLARITYAct