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Points of Focus
- Bitcoin holds $80,728 after hitting $81,238, its highest since mid-May.
- BTC futures volume nears $111B as open interest holds around $58.5B.
- US spot ETFs added $337.6M as Bitcoin’s 14-day RSI hit 81.83.
Bitcoin held above $80,000 on Tuesday after surging to $81,237.94 in Asian trading, its highest level since mid-May.
BTC was trading at $80,728.44 at the time of writing, about 0.6% below the session high, while its August gain stood near 28%. Reuters linked the rally to a weaker dollar and the US Treasury’s plan to expand long-dated bond buybacks.
Bitcoin futures volume nears $111B as leverage stays active
Derivatives activity picked up alongside Bitcoin’s move above $80,000. CoinGlass showed 24-hour BTC futures volume at $110.8 billion when checked, with spot volume at $9.01 billion. Open interest stood at $58.52 billion, while 24-hour futures liquidations totaled about $332.6 million.
Futures turnover was about 12.3 times spot volume and 1.9 times open interest. That confirms heavy derivatives participation around the breakout, but it does not mean the full volume came from new bullish positions. The same turnover can include traders opening and closing positions, as well as forced liquidations during a fast move.
Spot Bitcoin ETF inflows add $337.6M
Spot demand also supported the move. Farside recorded $337.6 million of net inflows into US spot Bitcoin ETFs on Aug. 24. BlackRock’s IBIT took in $208.9 million and Fidelity’s FBTC added $104.6 million. That followed five positive sessions from Aug. 17 through Aug. 21, which brought in about $1.92 billion.
Those flows weaken the case that the rally is being driven by derivatives alone. Momentum is more stretched, though. Bitcoin’s 14-day Relative Strength Index (RSI) reached 81.83, according to MarketWatch, its highest reading since March 2024.
Bitcoin price faces a test above $80K
Crypto analyst Rekt Capital said in an Aug. 24 post on X that Bitcoin’s rally was becoming overextended as price approached a major confluent resistance area. He said maintaining a bullish bias now depends on BTC holding its recent highs and building a reaccumulation range rather than repeating earlier fake-breakout patterns.
Bitcoin has Weekly Closed at the highs
Now starts the real test
If this is a Bear Market Relief Rally, then Bitcoin could pullback as early as this week, or at least over the next few weeks
Now it's all about Bitcoin proving sustained strength$BTC #Bitcoin https://t.co/JaoTYb6yI3 pic.twitter.com/kQsou2a4Ok
— Rekt Capital (@rektcapital) August 24, 2026
Bitcoin remains above $80,000 with ETF flows positive, but futures activity still outweighs spot trading and RSI remains above 80. The 50-week exponential moving average also remains a key reference level. During the 2022 bear market, BTC posted two weekly closes above the same trend line before falling to cycle lows. The 50-week EMA currently sits near $77,251.
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