Bitcoin Breaks Above $80,000 as Ethereum Tests $2,500
August saw significant changes in cryptocurrency market structure, especially for Bitcoin and Ethereum. The month opened with a relatively subdued period, but prices broke decisively out of consolidation, moving above key resistance levels.
BTC climbed to just over USD 81,300 by August 28, representing a gain of roughly 25% during the month. This marked a substantial improvement from July, when Bitcoin remained trapped between USD 61,300 and USD 67,500. The technical breakout was confirmed as the price moved above all three major exponential moving averages.
Ethereum performed even better, with ETH surging toward USD 2,500 after breaking out of its prolonged consolidation. It reclaimed all three major moving averages and advanced on expanding volume, confirming a stronger recovery structure.
Market-wide data supports the change visible in charts, with around 70 of 84 non-stablecoin assets finishing August higher, showing broad participation compared to previous months. Institutional flows also strengthened, with US spot Bitcoin ETFs recording approximately USD 3.52 billion in net inflows and spot Ethereum ETFs attracting roughly USD 1.85 billion.
Now that the market has recovered from its yearly lows, the technical question entering September is whether August's breakout can develop into a sustainable trend without surrendering newly reclaimed support levels. Bitcoin's next major challenge lies at USD 85,000, while Ethereum will face an important resistance test around USD 2,500.