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Crypto

Bitcoin hits highest since May on U.S. fiscal worries, tests $80,000

Bitcoin surged on U.S. fiscal worries and neared the $80,000 level on Aug. 23, its highest since May. CoinPost reported it started the week in the high $60,000s, climbed into the $70,000s and rose to around $77,000 to $78,000 midweek. The move followed comments by U.S. Treasury Secretary Scott Bessent about expanding long-term Treasury purchases, which was followed by a short squeeze. Investors are also watching next week’s U.S. GDP and July PCE deflator data.

Crypto

Bitcoin stuck despite U.S. inflation cooling, capped by 1.79 million BTC supply wall

Bullish bets targeting $70,000 are rising again, but Bitcoin has repeatedly failed to break higher due to a sell wall of about 1.79 million BTC near $65,000. The cryptocurrency has been trapped in a $63,000 to $65,000 range for three weeks and showed little reaction after the U.S. July CPI report. Options data show heavy interest in $70,000 calls and $60,000 puts, signaling both upside positioning and downside defense.