CryptoNews.com, August 25: 1. The crypto market recorded its largest weekly gain in two years, with total market capitalization rising by $474 billion; 2. Eric Balchunas stated that the U.S. Treasury’s buyback program ended Bitcoin’s prolonged downturn; 3. Bitcoin ETF assets increased by 25.4% last week to $96.1 billion; 4. Zach Witkoff responded to Sun Yuchen’s $450,000 lawsuit; 5. Bitcoin traders are watching Jackson Hole as Kevin Warsh prepares for his first Federal Reserve speech; 6. Whale Insights: Bitcoin makes a strong comeback, signaling the possible start of the next bull market; 7. Rebecca Rettig said advocacy by crypto lawyers is influencing SEC regulatory rules; 8. BTC broke above $80,000, reaching its highest level in nearly three months; 9. Bitcoin ETFs saw their largest weekly inflows in 10 months, driving a significant price surge; 10. Abraxas Capital’s main address increased its BTC short position by 40.90 BTC, with current profits and losses exceeding $15 million.
Crypto market sees largest weekly gain in two years, total market cap rises $47.4B
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Summary
The crypto market recorded its largest weekly gain in two years, according to the latest weekly market report. The total market cap increased by $47.4 billion, led by Bitcoin. BTC reached $80,000, a three-month high, as Bitcoin ETF assets rose 25.4% to $96.1 billion. The ETF also posted its largest weekly inflow in 10 months, mirroring the crypto market’s price surge.
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