Bitcoin Surges Past $77,000 in Best Week Since 2023

Bitcoin topped $77,000 on Friday, marking its best weekly performance since 2023 as the rally pulled altcoins higher. The move pushed Bitcoin above its 200-day moving average for the first time in nine months, a technical milestone that occurred as the rally gained momentum following the US Treasury's expansion of bond buybacks. Bitcoin and Ethereum ETFs collectively drew $800 million in inflows, with Bitcoin ETFs alone pulling in $608 million. Bitcoin ETF inflows pushed August's total to a 2026 high of $2.07 billion as Bitcoin traded above $75,000 and Ethereum climbed to $2,357. The surge wiped out $1 billion in short positions as Bitcoin, Ethereum, and Solana climbed. Ethereum ETFs recorded their largest single-day inflow since October, according to reports.

Strategy (formerly MicroStrategy) saw its Bitcoin treasury holdings reach breakeven as the Bitcoin price surpassed $77,000, with the company now sitting on a $1.4 billion profit on its holdings. The corporate treasury gained 20% over two days as Bitcoin rallied, climbing out of the red for the first time in months. Coinbase ($COIN) was mentioned as offering one of the few bright spots in an otherwise weak equity session that saw the Dow fall sharply on retail sector weakness. The Bitcoin surge past $70,000 provided support for crypto-related equities even as broader markets faced pressure from geopolitical risks and Treasury yield increases.

CFTC Chair Michael Selig stated at a meeting of the Innovation Advisory Committee that the agency will move forward on crypto regulation if the CLARITY Act fails to pass Congress. Selig directed CFTC staff to explore developer protections and other crypto-related policies, signaling the regulator's intent to establish frameworks independently if legislative efforts stall. In South Korea, lawmakers are seeking expanded Financial Intelligence Unit powers over unregistered crypto firms, with a proposal that would allow the FIU to investigate suspected violations and refer unregistered crypto operators directly to law enforcement. Japan's financial regulator granted Nomura-backed Laser Digital the country's first crypto approval in four years, marking a significant reopening of institutional crypto access in the world's third-largest economy.

Nomura-backed Laser Digital won Japan's first crypto approval in four years, representing a meaningful shift in one of Asia's most significant financial markets. Capital.com announced plans to offer UAE spot crypto services after an affiliate won a licence, allowing UAE clients to buy and hold crypto through Capital.com's app, expanding beyond price exposure through contracts for difference. Ripple backed an RLUSD credit fund amid XRP's best weekly performance in months, with a $2 million bet on XRP volatility crossing the tape as prices surged. The developments reflect continued institutional interest despite ongoing regulatory uncertainty in major markets.

Coinkite released a Coldcard firmware update to strengthen seed generation, urging users to generate new seed phrases and warning that existing vulnerable seeds remain unsafe despite the security upgrade. The MANTRA blockchain halted following an exploit, with the MANTRA token plunging 18% to a record low of approximately $0.0044 before recovering slightly. Exchanges paused deposits and withdrawals from the halted MANTRA Chain as the team worked to address the security incident. The incidents underscore ongoing infrastructure risks in the crypto ecosystem even as prices rally.