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Following
BTC 
ETH 
HYPE 
SOL 
ZEC Bitcoin approaches US$80,000, Ethereum breaks through US$2500, and altcoin's rally continues.
On Monday, Bitcoin traded at approximately US$79,200, only about 1% short of the US$80,000 mark. At the same time, Ethereum exceeded US$2,500, and mainstream altcoins continued to strengthen.
Bitcoin has risen more than 20% in the past week, after a $3 billion short squeeze accelerated its gains above $70,000 and $75,000. Ethereum is trading at about $2,500, up about 3% in 24 hours and is more than 30% above its level before last week's rebound.
Bitcoin ETF capital inflows provided spot demand support for the rally.
The U.S. spot Bitcoin ETF achieved net inflows for five consecutive trading days from August 17 to August 21, totaling approximately US$1.92 billion. In addition to the derivatives squeeze, this flow of funds has injected considerable spot demand into the market.
The strongest trading day for inflows occurred on Thursday, with net ETF inflows of approximately US$606 million that day, of which BlackRock's IBIT fund contributed more than US$500 million. An additional inflow of approximately $307 million was added on Friday, extending the record of consecutive net inflows to five trading days.
Ethereum ETF was also active, with a net inflow of approximately US$697 million during the week. During this period, the price of Ethereum quickly exceeded US$2,000, US$2,250, and finally reached US$2,500. Bitcoin and Ethereum ETFs had a combined net inflow of approximately US$2.62 billion over five trading days.
Ethereum breaks through US$2500, altcoin gains spread
Ethereum broke through $2,500, continuing its previous increase of 18%. The rally began when Treasury yields fell and leveraged short positions were forced to liquidate.
Solana is trading close to $96, having previously exceeded $100 for the first time since February. Zcash also basically maintained its recent 30% increase, while HYPE remains at a high level after hitting a record high.
Bitcoin still dominates market liquidity, but Ethereum, Solana and other large-cap tokens are now participating in the rebound with much higher spot volume than before the breakout. Bitcoin's next immediate test is the $80,000 mark, which hit a high of nearly $79,400 last Friday, and has been included in the trading range.
Strategy suspended bitcoin purchases and instead reserved cash
During the period from August 17 to August 23, Strategy did not conduct any bitcoin buying and selling operations, and its inventory remained unchanged, still holding 840,447 bitcoins, with a total cost of US$63.36 billion, and an average purchase price of US$75,385 per coin.
The company in turn raised a net amount of US$2.01 billion by selling 18.26 million MSTR shares. Of this,$300 million was used to increase its designated dollar reserves to $5.1 billion; another $1.59 billion was used to establish a separate dollar cash pool that could be used to purchase bitcoins, pay dividends, repay debt or buy back securities.
Bitcoin prices have rebounded above Strategy's average cost of $75,385, bringing its 840,447 Bitcoin positions back to profitability. At $79,200, the position is worth approximately $66.6 billion, approximately $3.2 billion higher than the total acquisition cost.
