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Crypto

Bitcoin Posts Record Weekly Gain, Eyes Crucial 50-Week Average

Guavy AI Editorial Team
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BTC
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Bitcoin's price surged to a record high in dollar terms last week, rising by $14,775 between August 16 and August 23. This marks the largest weekly gain ever recorded for the cryptocurrency.

The increase was driven by increased demand from US spot Bitcoin ETFs, with inflows totaling $3.51 billion over the past month. This is the largest weekly inflow since October 2025, when Bitcoin reached its previous all-time high.

Bitcoin's price has now reached a crucial level, testing the 50-week moving average near $81,795. Galaxy Research notes that breaking above this level could signal the end of the bear market if BTC closes above it.

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