The past week was a landmark one for the digital asset market. Between August 17 and 23, the leading cryptocurrency posted an unprecedented weekly gain of $14,264, an absolute record in the entire history of observations. At the close of the seven-day period, the asset settled at $77,387, showing impressive momentum of +22.4%.
During the rally, quotes reached local highs above $79,000. On the largest exchange, Binance, the price climbed to $79,500—a level not seen since mid-May. This movement confirms the strength of the current bullish impulse, but resistance levels in the $80,000 zone warrant close attention.
Trend Reversal Signals: A Look at the BTC/GOLD Pair
The analysis of the bitcoin-to-gold ratio deserves special attention. Matt Cole, head of the investment firm Strive, notes that the dynamics of the BTC/GOLD pair are a key indicator of the end of the bearish phase. According to his observations, this metric has twice led the movement of the digital asset against the dollar.
Interestingly, in December 2024, bitcoin peaked relative to the precious metal, while in dollar terms, highs were updated as late as October 2025. On the downward phase, the situation mirrored itself: the low against gold was recorded in February 2026, while against the dollar only in July. This divergence is a classic signal of a shift in the market cycle.
Now we are witnessing a simultaneous breakout of key levels both against the dollar and against gold. In Cole's view, this provides high confidence in the end of the bear market and the formation of an upward trend over the next 12–18 months. Corrections are possible, but in the event of a decline, active demand from institutional investors should be expected.
Additional support for the new cycle could come from two fundamental factors: the long-term weakening of the U.S. dollar and the development of artificial intelligence. A decline in the cost of technology and intellectual resources will amplify the scarcity premium—capital will flow into assets with limited supply, including bitcoin and gold.
Notably, the rally is accompanied by a chain liquidation of short positions on Binance futures, adding an element of technical acceleration to the fundamental bullish scenario.
My comment: The current dynamics do indeed resemble the start of a new supercycle, but one should not forget about volatility. Record weekly growth often precedes a local correction, yet the long-term trend looks constructive. The key support level is now the $70,000–72,000 zone, and holding it will confirm the strength of the bullish scenario.