Analysis

If Bitcoin holds firmly above $80,000, it suggests a strong market risk appetite has been established. Capital is expected to follow the rotation path and spread toward major Layer-1 public chains such as Ethereum (ETH), Solana (SOL), and XRP (XRP), while also signaling a shift in technical resistance levels.

TradingKey - In pre-market trading on August 21 ET, Bitcoin (BTC) extended its recent strong rally, briefly topping $78,000 and pushing crypto-related stocks higher. MicroStrategy (MSTR) surged over 10% in pre-market trading, extending its sharp rebound from the previous trading day.

Bitcoin surged 10% to break through the 77,000 mark, hitting a three-month high, and is poised for further gains.

TradingKey - As of the Asian trading session on August 21, Bitcoin (BTC) surged past $75,000 intraday, reaching a high of $75,897.34, with a cumulative weekly gain of over 20%, marking its largest single-week gain in nearly two and a half years. After previously fluctuating within the $60,000–$66,000 range, Bitcoin has now consecutively broken through the $66,000, $70,000, and $75,000 thresholds, highlighting a marked improvement in market risk appetite and capital flows.

Short sellers suffered another severe bloodbath as Bitcoin surged past $75,000 and Ethereum broke above $2,300.

On August 20, Eastern Time, Bitcoin (BTCUSD) extended its rally, briefly surging past $72,000 to touch its highest level since early June. Having long hovered near $60,000, Bitcoin staged a rapid surge in a short period, reflecting a clear recovery in market risk appetite.

Bitcoin surged 11% in a single day, rising above $71,000 and reaching a more than two-month high.

Bitcoin briefly touched $70,000 but failed to stabilize above the threshold, making a pullback to retest $67,000 possible before launching a new rally. The next major resistance level lies near $82,000, approximately 17% above current levels.

The U.S. SEC approved a crypto regulatory proposal, sending Bitcoin surging toward $65,000.

On August 17, Eastern Time, the U.S. Department of the Treasury issued a proposed rule seeking public comment on the implementation of the GENIUS Act to establish a federal regulatory framework for payment stablecoins, with a 60-day public comment period.

Memory chip stocks rallied collectively, while cryptocurrencies fell broadly, facing further downside pressure.

The U.S. SEC plans to launch two new crypto initiatives this week to address current regulatory gaps.

With the US set to release July CPI data, Bitcoin faces pressure of falling below $60,000.

The Clarity Act achieves a major breakthrough as the Senate launches a procedural vote on September 15.

The KOSPI represents cyclical semiconductor physical assets and is suitable for short-term trading, while Bitcoin is a decentralized digital asset suited for long-term hedging. Investors can make judgments based on AI trends or perform portfolio allocation.

Bitcoin prices continue to fluctuate above $64,000, with the upcoming July non-farm payrolls data seen as the key to breaking the current consolidation stalemate.

Unlike Strategy, SpaceX maintained its Bitcoin holdings in the second quarter, reducing market selling pressure.

Bitcoin fell sharply last week and is currently testing the $62,000 short-term support level, with the outcome of U.S.-Iran negotiations emerging as a key factor.

TradingKey - As of July 30, Eastern Time, Bitcoin (BTC) was trading near $64,500, extending its rebound from the previous two trading sessions. Bitcoin recently bounced back from a periodic low of $57,800 in early July and briefly approached $67,000, but upward momentum subsequently weakened, and it is currently fluctuating within the $63,000 to $65,000 range. Overall, short-term sentiment for Bitcoin has significantly improved compared to late June. However, volatile ETF capital flows, the Federal Reserve's maintained hawkish stance, and cooling corporate demand for purchases suggest that this rally is currently more characteristic of an oversold rebound rather than the start of a new bull market trend.

Treasury Secretary Scott Bessent urged the Senate to vote on the CLARITY Act as soon as possible, fueling a rally in the cryptocurrency market.