Bitcoin Surges Past $81,000 on Weaker Dollar and ETF Inflows

Bitcoin broke through the $80,000 mark on August 25th and rose to around $81.16 thousand over the course of the day.

The rally was supported by a weaker US dollar, capital inflows into US spot Bitcoin ETFs, the liquidation of short positions, and expectations of clearer regulations for the US crypto market.

US spot ETFs attracted $1.92 billion over the week, with the largest fund receiving around $503 million in a single trading session.

The covering of short positions has boosted demand in the market, but downside protection remains in place.