Track the evolution of major financial and economic events
Bitcoin surpassed the $80,000 and $81,000 milestones, testing levels above $82,000 on September 4. This rally was primarily driven by falling bond yields, which helped offset concerns regarding the cryptocurrency's historically weak performance in September. However, the sustainability of these gains remains questioned due to ongoing ETF volatility.
Bitcoin's price surged past the $82,000 mark, hitting a new peak and significantly exceeding previous targets. The rally was supported by fading expectations for Federal Reserve rate hikes, which strengthened the cryptocurrency's bullish momentum. Furthermore, spot Bitcoin ETFs recorded massive daily inflows exceeding $730 million. This surge represents the third-largest daily inflow of the year, contributing to the record-breaking price action.
Tether is facing a lawsuit alleging it froze $42.4 million in USDT based on an informal request. The legal action claims the freeze occurred months before a formal seizure warrant was officially issued by authorities. The case focuses on the legality and timing of freezing digital assets without a formal legal mandate at the time of the action.
On August 28, the Solana network approved the SGP-0002 proposal to double its disinflation rate to 30% during its first-ever network-wide vote. The proposal passed by a very narrow margin after a Kraken-linked validator switched sides in the final moments of the voting process. This historic event marks a significant milestone in Solana's economic policy and governance history.
Bitcoin reached $76,325.13 on August 21, marking an 8.9% daily increase and a 19.3% gain over the past week. This surge represents a clear breakout from the previous $70,000 resistance zone. Following this strong price momentum, the asset is currently targeting the $80,000 milestone.
On August 20, Bitcoin tested the significant psychological resistance level of $70,000, driven by intraday short squeeze liquidations. The price successfully broke out of its previous sideways range, which was capped between $61,500 and $66,900. Continued short squeeze pressure has pushed the market to price levels exceeding the previously recorded peak of $65,000.
Bitcoin spot ETFs recorded approximately $1 billion in weekly inflows, marking their strongest performance since mid-April and significantly exceeding the previous $282 million. The week concluded with total net inflows of $853.54 million, the highest since mid-April. BlackRock’s IBIT fund dominated the market, claiming the bulk of the total investor inflows into spot Bitcoin ETFs.
