Bitcoin Holds Firm Above $78,400 Despite Market Volatility
Bitcoin's price remained above $78,400 on Tuesday morning in Asian trading hours, despite some fluctuations over the past 24 hours. The cryptocurrency ended up largely flat after swinging between $77,200 and $79,200. August was a strong month for Bitcoin, with a 24% gain making it its best performing month since November 2024.
However, not all major coins fared as well. HYPE was the standout performer, rising about 4% to near $84. Other major coins like Ethereum, Solana, Tron, and Dogecoin lost ground, with some of them falling by up to 2%. Strategy returned as a Bitcoin buyer last week, spending $370 million, its first purchase in about two months.
The US spot Bitcoin ETFs posted their strongest week of demand since October 2025 before a $202 million outflow on Friday ended a nine-session winning streak. Analysts pointed to the low perpetual open interest as a sign that the August rally was driven by spot demand rather than leveraged bets.