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Bitcoin holds near $80,000 as spot ETF inflows keep bid steady
Bitcoin was supported by eight straight U.S. spot ETF inflow sessions totaling $2.8 billion, while markets looked ahead to Fed Chair Kevin Warsh’s Jackson Hole keynote.
Bitcoin traded just under the $80,000 level after rising nearly 2% over 24 hours, with activity tracked into Asian hours Friday as traders positioned ahead of Federal Reserve Chair Kevin Warsh’s first Jackson Hole keynote.
CoinDesk reports that U.S. spot bitcoin ETFs provided the main cushion, with products absorbing $2.8 billion across eight consecutive sessions, the longest inflow streak since April, and August flows topping $3 billion.
Solana led gains among major tokens, rising more than 4% to nearly $101, while Ether added just over 1% to around $2,492 and XRP was up nearly 2% to about $1.43. Ethena’s ENA surged 45% on the week after a governance vote to route protocol revenue into buybacks and restructure venture unlocks.
On the macro side, oil was cited as a key factor, with Brent easing to just under $90 a barrel and down more than 5% on the week after Iran and Oman agreed terms on administering the Strait of Hormuz. CoinDesk also noted the 10-year Treasury yield held at 4.67%, the two-year at 4.23%, and gold slipped to $4,587 an ounce.
Latest closeGold $4,666.20 ▲0.6%|Brent $86.32 ▼2.5%|Bitcoin $79,671.96 ▲0.8%