BTCC Evening News Highlights (August 23)

1. Bitcoin Holds Above $77,000, Posts Strongest Weekly Gain Since March 2023

Bitcoin briefly broke back above $78,000 on Sunday evening and was last trading around $77,665, up approximately 1% over 24 hours and 23.85% over the past seven days. The rally marks Bitcoin’s strongest weekly performance since March 2023 and represents a significant rebound from its July lows.

2. ETH Gains 31.5% in a Week as XRP Surges More Than 52%

The crypto rally has spread from Bitcoin to major altcoins. ETH was last trading around $2,460, up 31.5% over the past seven days, while XRP traded near $1.51 with a seven-day gain of 52.6%. SOL climbed to around $95. Bitcoin dominance fell to 59.12%, indicating that some capital is rotating into higher-beta assets.

3. Liquidity, Regulation, ETF Flows and Short Squeeze Drive Bitcoin Rally

Four main factors have supported the latest BTC rally: the US Treasury’s expansion of long-dated Treasury buybacks, which temporarily pushed the dollar and yields lower; President Trump’s renewed push for the CLARITY Act; more supportive signals from the SEC on crypto-asset issuance regulation; and a clear return of inflows into US spot ETFs. After Bitcoin broke key resistance levels, a short squeeze accelerated the move, with more than $4.3 billion in short positions liquidated during the latter half of last week.

4. Total Crypto Market Cap Rises to $2.64 Trillion as Fear & Greed Index Hits 78

CoinMarketCap data showed total crypto market capitalization rising to approximately $2.64 trillion, up 1.17% over 24 hours. Bitcoin dominance stood at around 59.1%, while Ethereum dominance was approximately 11.3%. The Fear & Greed Index reached 78, signaling that sentiment has quickly shifted from “fear” a week ago into clear “greed” territory.

5. Bitcoin and Ethereum ETFs Record Combined $2.6 Billion in Weekly Net Inflows

The latest complete weekly data showed US spot Bitcoin ETFs recording approximately $1.9 billion in net inflows last week, while spot Ethereum ETFs attracted $697.2 million, for a combined total of about $2.6 billion. It was the strongest weekly inflow since October 2025. Combined weekly trading volume for the two ETF categories rose to around $29 billion.

6. Balchunas Calls BlackRock IBIT Flow Pattern a Classic Bullish Signal

Bloomberg ETF analyst Eric Balchunas said BlackRock’s IBIT displayed a daily fund-flow pattern last week that he calls “Flipping the Bird,” which he views as a bullish signal. US spot Bitcoin ETFs attracted around $2 billion in total inflows last week, while Ethereum ETFs drew roughly $700 million over the same period.

7. Bitcoin Futures Open Interest Near $55.7 Billion as Leverage Returns

Latest CoinGlass data showed 24-hour Bitcoin futures trading volume of around $60.3 billion and open interest of approximately $55.66 billion. With BTC back above $77,000, leverage in the derivatives market remains elevated, reflecting substantially stronger trading activity than during the previous subdued phase.

8. Wintermute Expands BTC, ETH and Other Shorts to $191 Million

Onchain Lens monitoring showed that Wintermute recently added funds to Hyperliquid and increased its short positions across multiple cryptocurrencies from around $146 million to $191 million. Its ETH short was worth approximately $53.02 million, BTC around $30.66 million and SOL roughly $22.62 million, with additional positions in HYPE and XRP.

9. US 30-Year Treasury Yield Returns to 5.276%, Near 19-Year High

The US Treasury’s earlier expansion of long-dated bond buybacks only suppressed yields for a short period. The 30-year Treasury yield has returned to around 5.276%, not far from the recent 5.337% peak, its highest level since 2007. The move suggests that concerns over fiscal deficits, inflation and bond supply remain unresolved.

10. Markets Price Around 40% Chance of Fed Rate Hike in September

Interest-rate futures currently imply around a 40% probability of a Federal Reserve rate hike at the September meeting and fully price in at least one increase by year-end. This week’s US core PCE data will be a key input for repricing policy expectations. Markets expect July core inflation to remain around 3.3% year-on-year, well above the Fed’s 2% target.

11. Kevin Warsh to Make First Jackson Hole Appearance as Fed Chair on Friday

Federal Reserve Chair Kevin Warsh is scheduled to speak at the Jackson Hole global central banking symposium on Friday. Markets will look for clues on monetary policy and the balance sheet, although JPMorgan Chief Economist Bruce Kasman believes Warsh may focus more on his Fed reform agenda and “regime change” framework than offer explicit rate guidance.

12. Nvidia Reports Earnings Wednesday as Quarterly Revenue Seen Near $92 Billion

Nvidia will report second-quarter earnings on August 26, making the release one of the most important catalysts for US equities and the global AI trade this week. Markets broadly expect quarterly revenue to approach $92 billion, nearly double the year-earlier level. With global long-term bond yields rising, investors will closely assess whether AI infrastructure spending can continue to justify elevated valuations.

13. US to Launch “Economic D-Day” Against Iran as New Sanctions Are Announced Today

US Treasury Secretary Scott Bessent plans to announce a new round of sanctions against Iran on Monday, describing the measures as an “economic D-Day” and the “toughest-ever sanctions.” The measures are expected to target not only Iran itself but potentially third-party economies that trade with Tehran, with energy markets closely watching the scope.

14. US-Canada Trade Talks Collapse as Canada Launches “Dollar-for-Dollar” Retaliation

After the US imposed 50% tariffs on approximately $20 billion of Canadian goods, Canada announced a “dollar-for-dollar” retaliatory response. The new tariffs are scheduled to take effect on September 8 and will cover US steel, dairy products, household appliances, agricultural equipment, pulp and electronics, further worsening bilateral trade relations.

15. Gold Rises to $4,623 as August Gain Exceeds 14%

Spot gold rose 0.4% in early Asian trading to around $4,623 per ounce. A weaker dollar, US public debt surpassing $40 trillion, volatility in long-term interest rates and tensions in the Middle East are all supporting safe-haven demand. Gold has gained more than 14% so far in August and is heading toward its largest monthly increase on record.