After BTC surged to over $80,000, I’m actually paying more attention to one data point
BTC rose about 22.7% over the past week, setting a record for the largest single-week dollar gain in history. The week closed on August 23 at $77,387, and it continued to press toward $80,000. Meanwhile, U.S. spot BTC ETFs saw net inflows of about $1.92 billion last week, suggesting this rally isn’t driven by sentiment alone.
What’s even more interesting is that after the pullback over the weekend, BTC futures open interest (OI) fell by about 2.65%. The funding rate remains close to the benchmark, indicating that some leverage has already been liquidated and hasn’t been piled back up immediately.
So for now, I’m more inclined to interpret this rally as: stronger spot demand, combined with leverage not getting out of control.
That’s healthier than simply looking at how much BTC has gone up.
Next, what we truly need to watch is whether, after BTC holds above $80,000, ETF inflows can keep being maintained—and whether OI starts to rise moderately.
If the price keeps climbing but OI suddenly spikes and funding quickly heats up, I’d start to get cautious.
What do you think is the most critical validation signal for the next step in this BTC rally? $BTC # Bitcoin is blocked at $81,000 by the 50-week moving average
BTC rose about 22.7% over the past week, setting a record for the largest single-week dollar gain in history. The week closed on August 23 at $77,387, and it continued to press toward $80,000. Meanwhile, U.S. spot BTC ETFs saw net inflows of about $1.92 billion last week, suggesting this rally isn’t driven by sentiment alone.
What’s even more interesting is that after the pullback over the weekend, BTC futures open interest (OI) fell by about 2.65%. The funding rate remains close to the benchmark, indicating that some leverage has already been liquidated and hasn’t been piled back up immediately.
So for now, I’m more inclined to interpret this rally as: stronger spot demand, combined with leverage not getting out of control.
That’s healthier than simply looking at how much BTC has gone up.
Next, what we truly need to watch is whether, after BTC holds above $80,000, ETF inflows can keep being maintained—and whether OI starts to rise moderately.
If the price keeps climbing but OI suddenly spikes and funding quickly heats up, I’d start to get cautious.
What do you think is the most critical validation signal for the next step in this BTC rally? $BTC # Bitcoin is blocked at $81,000 by the 50-week moving average