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Bitcoin (BTC) starts the final week of August near its highest levels since mid-May as its bear-market recovery reaches a critical stage.
Key points:
- Bitcoin sees a weekly candle close above its 50-week exponential moving average (EMA) for the first time since November 2025.
- Amid its best August gains in almost a decade, BTC/USD returns investor cohorts to net profit, while new money enters at $73,000.
- Fed chair Kevin Warsh is in the spotlight ahead of the Jackson Hole symposium.
- US PCE data will be released on Wednesday as markets continue to respond to last week’s US Treasury debt buyback.
- Investor capital returns to exchange-traded products as Bitcoin ETF netflows hit $1.9 billion last week.
Bitcoin scrapes weekly close above key resistance
Bitcoin reached $79,550 last week, its highest levels since early May as a five-day rally brought gains of up to 27%. BTC/USD closed last week at $77,727 on Bitstamp, per data from TradingView. This…
