CapitalistThe Block · CoinDesk · Cointelegraph · Decrypt · Updated Mon Aug 24 · 9:00 AM ET

BITCOIN JUST HAD ITS BIGGEST WEEK IN HISTORY — UP $14,264, BROKE OUT AGAINST BOTH DOLLAR AND GOLD

UPDATE — MON AUG 24 · 9:00 AM ETBitcoin steady near $78,000 Monday morning. Best week in three years, per CoinDesk. Last week’s Treasury buyback expansion cracked a six-week trading range and squeezed more than $3 billion in shorts. That was the trigger.

Cointelegraph: first bear-market trend-line reclaim since 2025. Four things to watch this week:
— “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.”
— “Investor capital returns to exchange-traded products as Bitcoin ETF netflows hit $1.9 billion last week.”

Decrypt: next test is $80,000 as Jackson Hole comes into focus. Warsh gives his first keynote as Fed chair on Friday. The tape is asking whether the buyback-and-cut trade holds through the speech.

The move that was the biggest week in three years is now the setup for the $80K test.

Sources: CoinDesk Aug 24 · Cointelegraph Aug 24 · Decrypt Aug 24

Bitcoin closed the week at $77,387. Up $14,264 in seven days. That is the biggest dollar move in a single week in the history of the asset. A 22.7 percent gain.

The trigger was last week’s Treasury buyback expansion. The Fear and Greed Index sits at 78, on the edge of extreme greed, the highest since December 2024. Spot bitcoin ETFs took in $1.92 billion in net inflows for the week ended Aug. 21 — the largest since October 2025, per SoSoValue.

“The growing hunt for scarcity in an AI-driven world of abundance both point toward a powerful structural tailwind for scarce assets. When bitcoin is the fastest horse, it will attract a disproportionate share of that capital.” — Matt Cole, Chairman and CEO of Strive

Cole’s read: bitcoin broke out against both the dollar AND gold this week. The bitcoin-to-gold ratio hit 16.73 ounces of gold per bitcoin, the highest level since May, per Longtermtrends. He called the next cycle “the strongest we have ever seen.”

The tape delivered what Kendrick, Kiyosaki, Grayscale, Dalio, and El-Erian have been calling for weeks. The Treasury buyback triggered the largest USD week in bitcoin history. Same week Bessent goes live Monday.

ONE HONEST FLAGBTC Markets analyst Rachael Lucas: watch whether spot volume and ETF inflows confirm the move, or whether leverage is amplifying it. Spot-driven rallies have stronger structural support. Leverage-heavy leaves the market open to a sharp unwind. Zeus Research analyst Dominick John: reclaim $80,000 first, then $85,000-$90,000, with $100,000 possible if ETF flows and macro liquidity hold.

The cap is still twenty-one million.
Tick tock. Next block.

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The Block / Danny Park · Matt Cole @colemacro X post · SoSoValue ETF flow data · Longtermtrends BTC:gold ratio · Crypto Fear & Greed Index · Sun Aug 23 2026