Bitcoin Stalls Above $80K as Wall Street Awaits Key Data Releases

Bitcoin's price surged past $80,000 on August 20, but it quickly encountered resistance in the same range. According to analysts, this zone is a critical resistance band shaped by historical price action and volume patterns.

The catalyst for the rally was a decision by US Treasury Secretary Scott Bessent to increase long-dated bond buybacks, effectively doubling planned purchases. This move drove down bond yields and weakened the dollar, creating a favorable environment for risk assets like Bitcoin.

Bond yields have been steadily declining since the announcement, and spot Bitcoin ETFs recorded their strongest weekly inflows since October 2025, with estimates ranging from $1.9B to $2.4B. Meanwhile, short position liquidations exceeded $2B during the rally.