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Points of Focus
- Bitcoin holds near $77.1K after a 22.2% weekly rally, with futures open interest at $55.5B.
- US spot Bitcoin ETFs pulled in $1.92B over five sessions through Aug. 21.
- Futures volume remains over 13x spot as BTC trades below last week’s $79.5K high.
Bitcoin held near $77,000 on Monday after surging 22.2% over the past week, as futures open interest climbed to about $55.5 billion. BTC remains below Friday’s $79,463 high after one of its sharpest weekly advances this year.
Short covering helped accelerate the breakout, but it wasn’t the only source of demand. US spot Bitcoin ETFs pulled in nearly $1.92 billion across five straight sessions through Aug. 21, showing that spot buying supported the rally alongside forced buying. Elevated open interest still leaves BTC exposed to sharper moves if buyers fail to defend the breakout.
Bitcoin ETF inflows add spot support to the rally
Farside Investors recorded five straight sessions of US spot Bitcoin ETF inflows from Aug. 17 through Aug. 21. The funds absorbed $297.5 million, $189.3 million, $517.2 million, $606.3 million and $307.5 million, for a combined $1.92 billion.
More than $4.3 billion in crypto short positions were liquidated across the market from Wednesday through Friday. At the same time, the ETF inflows show that spot demand was present alongside forced buying, suggesting Bitcoin’s 22% weekly gain wasn’t driven by short liquidations alone.
Bitcoin futures open interest keeps leverage risk elevated
CoinGlass shows Bitcoin futures volume at $59.43 billion over the past 24 hours versus $4.56 billion in spot volume, keeping derivatives turnover near 13 times spot activity. Open interest also remains near $55.5 billion after BTC’s sharp weekly rally.
Futures volume rose 9.19% over 24 hours, compared with a 2.97% increase in spot volume. Open interest doesn’t show whether traders are net long or short, but the gap shows activity remains concentrated in leveraged markets. About $101 million in BTC futures positions were liquidated over the latest 24 hours, far below last week’s squeeze.
Bitcoin analyst watches $74K-$75K support after breakout
Crypto analyst Ted wrote on X that Bitcoin’s daily MACD remained strong and pointed to large bids around $74,000 to $75,000. That zone provides a test of whether buyers are willing to defend last week’s breakout if BTC pulls back from $77,000.
$BTC daily MACD looks strong.
ETFs are buying, and there are large bids stacked around $74,000-$75,000.
At this point, Bitcoin to $90,000 looks like a real possibility.
Trade with me: https://t.co/cOHt8ZSMoe https://t.co/XQBs8Vf7PG pic.twitter.com/3A8yGbrVq6
— Ted (@TedPillows) August 23, 2026
At $77,089, Bitcoin remained about 3.1% below Friday’s $79,463 high.
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