Bitcoin Surges Past $80K, Sets Sights on Wave 3 Targets

The Bitcoin price has broken through $80,000 and is now targeting new upside targets as per a bullish wave 3 analysis. The move has placed the Bitcoin price back at a key technical level, with renewed spot demand and stronger exchange-traded fund (ETF) flows providing additional support for the advance.

At the time of writing, Bitcoin was trading around $79,800 after reaching a 24-hour high near $81,280 on August 25. Market data shows BTC has gained roughly 24% over the past seven days, with most major short- and long-term moving averages positioned above it.

The latest move also comes after Bitcoin reclaimed $80,000 for the first time since May, driven by a softer U.S. dollar and renewed demand for alternative assets, as well as strong ETF inflows and a major short squeeze. The recovery has been notable for its speed, with Bitcoin moving from the low-$60,000s earlier in the month toward $80,000 within a relatively short period.

The wave 3 target is estimated to be around $84,000-$87,000, although this should be viewed as a technical projection rather than an established price target. The broader market backdrop has also improved, with U.S.-listed spot Bitcoin ETFs recording approximately $1.92 billion in net inflows over the latest reported week.