Bitcoin was trading around $79,200 on Monday, leaving the $80,000 level roughly 1% away as Ethereum moved above $2,500 and strength continued across major altcoins.

BTC has gained more than 20% over the past week after a $3 billion short squeeze accelerated the breakout through $70,000 and $75,000. The move has also brought the year-end $100,000 scenario back into play, with $80,000 now the immediate level separating BTC from another push toward $90,000. For traders and institutions watching the rally, the question is less about the speed of the move than whether spot demand can keep pace after derivatives helped kick it off.

Bitcoin ETF Inflows Add Spot Demand Behind Rally

U.S. spot Bitcoin ETFs drew roughly $1.92 billion across five consecutive positive sessions from August 17 through August 21, adding sustained spot demand after the initial derivatives-driven acceleration.

The strongest session came Thursday with about $606 million in net inflows, while Friday added another $307 million. The five-day streak marked a sharp reversal from the weaker institutional demand that accompanied Bitcoin’s slide toward the low-$60,000 range earlier in August.

Bitcoin’s move toward $80,000 now leaves it above Strategy’s $75,385 average acquisition cost and near the $79,463 high reached Friday. A clean break through that area would put BTC into price territory not seen since the latest summer selloff, which makes the current range a useful reference point for readers tracking whether the rebound is being sustained by both ETF flows and broader market participation.

Ethereum Hits $2,500 as Altcoin Rally Broadens

Ethereum traded around $2,500 on Monday, extending the ETH rebound that began as Treasury yields eased and leveraged shorts were forced out.

U.S. spot Ether ETFs collected roughly $697 million over the same five-session stretch, giving ETH a second source of demand alongside the derivatives reset. The token has risen more than 30% from levels seen before last week’s breakout.

Solana was holding near $96 after breaking $100 for the first time since February. Zcash retained much of its recent 30% surge, while HYPE remained near record territory after briefly trading above $83.

The broader move has come with substantially stronger trading activity across ETH, SOL and other large-cap tokens, reducing the concentration of last week’s rally around Bitcoin alone. That wider participation matters because it shows the move has extended beyond a single asset, even as Bitcoin remains the main benchmark for the market’s near-term tone.

Strategy Skips Bitcoin Purchase and Builds Cash

Strategy made no Bitcoin purchases or sales between August 17 and August 23, leaving its holdings unchanged at 840,447 BTC with an aggregate acquisition cost of $63.36 billion.

Instead, the company sold 18.26 million MSTR shares for $2.01 billion in net proceeds. Strategy increased its designated USD Reserve to $5.10 billion and established another $1.59 billion cash pool available for Bitcoin purchases, dividends, debt payments and securities repurchases.

At $79,200, Strategy’s 840,447 BTC position is worth roughly $66.6 billion, putting the holdings about $3.2 billion above their aggregate acquisition cost.