Bitcoin Holds Steady at $80,000; ETFs Attract Billions Again — Weekly Roundup of Crypto Market

28.08.2026    17:30

The cryptocurrency market is closing out the last week of August near local highs: Bitcoin is holding steady at around $80,000 after rising above $81,000, investors are once again actively pouring funds into spot ETFs, and the stablecoin sector continues to evolve from a primarily trading instrument into a full-fledged payment infrastructure.

On August 25, Bitcoin rose to $81,240, its highest level since mid-May. By the morning of Friday, August 28, the leading cryptocurrency had corrected to approximately $79,700; however, it remains up by about 26.7% for the month of August, which could be its best monthly performance since late 2024.

Unlike many previous waves of growth, one of the key factors now is not so much speculative demand as it is investors’ concerns about U.S. government debt, the long-term value of the dollar, and the situation in the Treasury bond market.

Following the U.S. Treasury’s decision to increase its repurchase of long-term Treasury bonds, market participants have once again begun discussing the so-called “debasement trade”—the purchase of gold, Bitcoin, and other scarce assets as a hedge against potential currency devaluation.

Standard Chartered noted that such a policy creates precisely the macroeconomic environment for which Bitcoin was originally created. Some analysts suggest that a sustained break above the current resistance zone could pave the way to $95,000–100,000.

That said, this week was significantly calmer than the previous one. By last Friday, Bitcoin had already surged to around $77,000–78,000, posting its best weekly performance in over two years. This week, the market was more focused on consolidating this gain than on launching a new upward surge.

Ether also remained relatively stable and was trading near $2,500 by the end of the week. Thus, Ethereum did not replicate the scale of Bitcoin’s August rally but continued its recovery following a weaker first half of the year.

One of the most important signals for the market was the return of funds to U.S. spot Bitcoin ETFs. According to market participants’ estimates, inflows into these funds in August approached $2.4–2.5 billion, with investors directing approximately $2.5 billion into ETFs over the last seven trading sessions.

BlackRock, the largest operator of Bitcoin ETFs, believes that institutional investors are increasingly viewing Bitcoin not only as a high-risk technology asset but also as a potential diversification tool amid debt and currency risks. BlackRock’s IBIT, the largest U.S. fund, already manages over $76 billion in assets.

This is particularly significant for the market following a prolonged period of capital outflows from ETFs earlier this year. The return of institutional demand significantly increases the likelihood that August’s growth will prove more sustainable than the short-lived speculative rallies of previous months.

Another notable trend of the week is the accelerating development of stablecoins.

The volume of payments made using cards pegged to stablecoins exceeded $1 billion for the first time in July. RedotPay forecasts that by 2028, the annual volume of such payments could increase approximately fourfold—to $50 billion.

Stablecoins are being used more and more actively not only within crypto exchanges but also for cross-border transfers, corporate payments, holding dollar liquidity, and everyday payments. This market is growing particularly rapidly in Latin America and Africa, where access to dollar-denominated banking instruments is limited.

This week, another signal came from the United Kingdom: the government proposed expanding the Bank of England’s mandate to include supporting innovation in the payments sector, particularly innovations related to stablecoins and digital currencies.

Another telling development was Chelsea Football Club’s decision to make Circle, the issuer of USDC, the title sponsor of its jerseys. The logo of one of the largest dollar-pegged stablecoins will now appear on the jerseys of this English Premier League club—a level of mainstream integration that would have seemed nearly impossible for the crypto industry just a few years ago.

Consolidation is also continuing in the industry’s institutional segment.

Crypto custodian BitGo has agreed to acquire NYDIG’s institutional trading business. With this acquisition, BitGo will gain access to derivatives, structured products, financing, and other services for institutional clients. Approximately 30 NYDIG employees are moving to BitGo. The parties did not disclose the value of the deal.

BitGo previously went public in 2026 and raised approximately $213 million during its IPO. The acquisition of part of NYDIG signals the continued emergence in the crypto market of companies seeking to provide institutional investors with a full range of services—from asset custody to trading, settlement, and structured financing.

Regulation in the U.S., however, remains one of the main sources of uncertainty.

President Donald Trump continues to urge Congress to pass the Clarity Act, which aims to more clearly delineate the powers of regulators and establish rules for the operation of the cryptocurrency market. The legislative process remains protracted, but the industry is already actively preparing for the midterm congressional elections.

Stand With Crypto, an organization backed by Coinbase, announced this week its support for 32 candidates who have previously voted in favor of cryptocurrency legislation. According to Reuters estimates, the crypto industry as a whole has already allocated approximately $200 million to political activities as part of the 2026 election cycle.

Thus, the last week of August cemented several trends at once: Bitcoin returned to around $80,000, institutional capital flowed back into ETFs, stablecoins are increasingly being used for real-world payments, and the largest crypto companies continue to build infrastructure that increasingly resembles the traditional financial sector.

The main risk for the market in the coming weeks remains macroeconomic. Investors are awaiting signals from the Federal Reserve regarding interest rates. Persistently high inflation has already reignited market expectations of a potential rate hike in the U.S., which is traditionally a negative factor for cryptocurrencies.

In September, attention will focus on the Fed meeting on September 16, data on the U.S. labor market, and trends in U.S. Treasury yields. Provided the dollar remains weak and demand for alternative assets stays high, the $80,000–83,000 range for Bitcoin will become a key technical level. A sustained breakout above this level could reignite market talk of $100,000, while rising yields and a hawkish stance from the Fed could send Bitcoin back into the mid-$70,000 range

Fixygen will continue to monitor the dynamics and trends of the cryptocurrency market.

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