Bitcoin Recovery Hits Speed Bump as Price Slips Below $79,000

Bitcoin's rapid recovery has stalled after failing to hold above $81,000, leaving traders wondering if the surge marks the start of a sustained crypto recovery or simply a flash in the pan.

The price slipped back below $79,000 at the latest check, with Ethereum trading around $2,460 and Solana hovering near $97. XRP was close to $1.45.

Despite the setback, institutional demand remains strong, with ETF money continuing to flow into Bitcoin. On August 24, US spot Bitcoin exchange-traded funds attracted $337.56 million, while Ethereum funds drew $115.57 million. Solana products lured another $33.49 million and XRP products $13.82 million.

Fresh liquidity is also returning to the crypto market, with Tether's USDT supply increasing by $2.2 billion over the past week, according to RWA.xyz data cited by CoinDesk. Circle's USDC added $1.8 billion, and Ripple's RLUSD grew by another $300 million.