Bitcoin price action has gone completely vertical this week. Bitcoin is trading around $77,700, up 8.3% over the past 24 hours and 23.8% over seven days, as its ETF news turns bullish. It has also pushed its market cap above $1.55 trillion.
The move comes after BTC broke through $75,000 during Friday’s Asian session. It later pushed toward $78,000 as buyers continued to chase the breakout.
This is no longer the same Bitcoin market that was struggling around $64,000 earlier this month. Momentum has flipped quickly, and the latest ETF data gives bulls and the news another reason to stay interested.
Bitcoin ETF Flows Flip Back Positive Despite Bearish News Earlier
The 12 US spot Bitcoin ETFs recorded $600 million in net inflows on August 20. That was a bigger inflow than the previous sessions, extending the recent run of positive flows.
The August 20 figure followed inflows of $297.5 million on August 17, $186.4 million on August 18, and $517 million on August 19. That puts the three-day inflow total through August 19 at more than a billion.
BItcoin ETF, Coinglass
The latest session was led by IBIT, which recorded over $500 million in inflows. The broader ETF group remained positive despite the much smaller daily figure.
This is overall positive for the market that had just gone through a short period of ETF weakness. The funds posted outflows on August 12, 13, and 14 before buyers returned the following week.
Now Bitcoin is trading at levels not seen since earlier in the year. CoinGecko shows BTC up 24% over the past seven days, with daily trading volume around $66.9 billion.
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Treasury Move Adds Fuel to the Bitcoin Rally
The biggest catalyst appears to have come from the US Treasury, as Treasury Secretary Scott Bessent announced plans to double long-term bond buybacks. The move initially pushed longer-dated Treasury yields lower and weakened the dollar.
That helped Bitcoin and gold catch a bid. Reuters reported that Bitcoin climbed above $70,000 after the Treasury announcement, while crypto-related stocks also rallied.
There is also a positioning story behind the move. Short liquidations accelerated as Bitcoin ripped higher. Forced buying can make an already strong rally move much faster, especially when the price breaks a level that had capped buyers for weeks.
BREAKING: Bitcoin extends gains to rise above $70,000 for the first time since June 2nd and levered short liquidations hit $2.7 billion in 24 hours. pic.twitter.com/vs7NjXPsw1
— The Kobeissi Letter (@KobeissiLetter) August 19, 2026
That creates the big question now. Is Bitcoin entering a genuine trend reversal, or did the market simply squeeze shorts into a thin resistance zone?
The answer will likely come from what happens next with ETF flows. The August 20 inflow was only $38.6 million, so bulls still need to prove that institutional buying can remain consistent after the initial breakout.
For now, the price chart is doing most of the talking. Bitcoin has climbed more than 23% in seven days and is sitting near $78,000. If BTC can hold above $75,000 while ETF flows remain positive, the next psychological target is obvious: $80,000 is back on the menu.
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