Key Highlights
- Bitcoin advanced 4.3% to reach $81,069, momentarily surpassing $82,000 for the first time in nearly four months
- Federal Reserve Governor Waller indicated preference for maintaining current interest rates, reducing pressure on digital assets
- Spot Bitcoin ETFs in the United States attracted $730.9 million on Thursday, marking the strongest single-day performance since January
- BlackRock’s IBIT dominated with $454 million in inflows, representing approximately 62% of total flows
- Market analysts from CryptoQuant highlighted concerns about fresh demand strength, identifying $83,000 as a critical resistance point
Bitcoin extended its upward trajectory on Friday, gaining 4.3% to settle at $81,069 as the digital asset continued its third straight week of positive momentum. The leading cryptocurrency by market capitalization momentarily pierced the $82,000 mark during the previous trading session, reaching heights not witnessed since late April.
The upward price action stems primarily from diminishing anxieties surrounding potential Federal Reserve interest rate increases. Federal Reserve Governor Christopher Waller informed Reuters that he’s inclined to maintain current interest rate levels at the central bank’s next policy meeting, especially should upcoming inflation figures demonstrate moderation.
Waller’s statements catalyzed a notable decline in US Treasury yields. This development carries significant implications for Bitcoin, as the cryptocurrency exhibits sensitivity to yield fluctuations due to its risk-on characteristics. After Waller’s public comments, the likelihood of a September rate increase tracked by CME Fedwatch declined to 50.4%, down from above 60% earlier during the week.
Market analyst Ash Crypto shared on X that Bitcoin successfully breached the Weekly 50-day moving average positioned at $80,400, characterizing it as a “massive breakout.” The analyst pinpointed $83,000 as the subsequent significant resistance barrier, suggesting that a weekly close above the 50 MA would validate the commencement of a fresh bull market cycle.
Bitcoin ETF Demand Reaches Eight-Month Peak
United States-based spot Bitcoin exchange-traded funds registered $730.9 million in net inflows on Thursday, representing the strongest daily performance since January 14, when these investment vehicles captured $843.6 million. This substantial uptick followed modest inflows of $101.2 million recorded the previous day.
BlackRock’s iShares Bitcoin Trust (IBIT) dominated inflows with $454 million, capturing roughly 62% of aggregate demand. ARK 21Shares Bitcoin ETF (ARKB) contributed $137.7 million, while Fidelity’s FBTC secured $74.4 million in fresh capital. VanEck’s HODL and WisdomTree’s BTCW stood as the sole funds experiencing outflows, shedding $19.6 million and $5.2 million respectively.
Legislative Developments Support Market Optimism
SEC Chair Paul Atkins contributed to bullish sentiment, indicating his anticipation that the Senate will conduct a vote on the Clarity Act on September 15. He urged legislators to advance the bill and deliver it to President Trump before month’s end. Atkins further revealed that the SEC is developing complementary cryptocurrency legislation designed to function alongside the proposed act.
Strategy, the largest corporate Bitcoin treasury holder, surged nearly 18% on Thursday as cryptocurrency-related equities experienced broad-based gains.
CryptoQuant observed that Bitcoin holders realized 23,000 BTC in net profits on August 21, representing the largest single-day profit realization event this year, suggesting active profit-taking during the price advance. The analytics firm positioned Bitcoin’s 365-day moving average at approximately $82,300, a level that has historically served as the threshold between bull and bear market cycles.
