Over the past week, the leading cryptocurrency demonstrated an unprecedented surge: the price rose by $14,775, setting an absolute record in dollar terms in the entire history of observations. As of Friday morning, the asset is trading near the $77,593 mark, and this momentum is backed by the strongest inflow of capital into U.S. spot Bitcoin ETFs, the highest since October 2025.
In percentage terms, the growth amounted to 23.5% — from $62,818 to $77,593. Although this result ranks only 41st since 2010, it is important to emphasize: a similar jump was last recorded in March 2023. The current movement stands out not so much for its pace as for its scale in absolute figures, which points to a qualitatively different level of liquidity and participation by institutional players.
Rally drivers: macroeconomics and regulatory shift
At the core of the rapid rise lie two key events. The first is the decision by the U.S. Treasury to double its long-term bond buyback program, aimed at lowering their yields. This directly pressures government bond yields, which traditionally enhances the appeal of risk assets, including Bitcoin.
The second is active support from U.S. President Donald Trump, who publicly called on Congress to pass the CLARITY bill. This document is designed to establish clear federal rules for classifying digital assets — as securities or commodities. Regulatory clarity of this level could fundamentally change the rules of the game for the entire market, opening the door to large institutional capital.
An additional accelerator was the mass liquidation of short positions. Traders betting on declines were forced to lock in losses, triggering a short squeeze effect. Over the week, approximately $2.7 billion in short positions were liquidated on the crypto market — the fastest sentiment reversal in 2026.
ETF flows: the return of confidence
Inflows into spot Bitcoin ETFs in August are already on track for a record: the monthly figure could become the largest since the start of the year. If this momentum continues into September, it will finally reverse the prolonged streak of outflows that saw funds selling more than buying in 2026.
However, it is important to maintain a sober perspective. Even after the rebound, ETF holders remain roughly 6% in the red: the average purchase price across their portfolios is $84,029, while the spot price at the time of analysis is $78,955. Yesterday, Bitcoin briefly rose above $80,000, but the sustainability of the growth will directly depend on whether capital inflows into the funds persist in the coming weeks.
My analysis: The current surge is not merely a speculative spike, but a signal of a shift in the market paradigm. The combination of macroeconomic stimulus and regulatory progress creates a foundation for long-term growth. But investors should remember: with ETF entry prices above current levels, any pullback could trigger a new wave of volatility. The key level for confirming the trend is a sustained hold above $80,000 while inflows continue.