Bitcoin broke $76,000 on August 21st, returning to a high position since late May. The increase was not driven by a single factor, and the breakthrough was amplified by the continued ingestion of cash, the concentration of empty space and the improved liquidity environment in the United States debt market.

Net inflows exceeded $1.1 billion in two days

According to SoSoValue, United States spot bitcoin ETF recorded a net inflow of about $606 million on 20 August, with a net inflow of about $517 million the previous day. The combined two-day net inflow exceeded $1.1 billion, indicating that institutional funds had not been absent from the increase.

During the same period, a single-day net inflow of ETF was approximately $221 million. The XRP-related funds flowed about $13 million and Solana products about $15 million. By contrast, bitcoin remains the core direction of the current round.

Zoom in on the increase.

At the price level, Bitcoin had previously rebounded from $62,000 to $63,000 in the region, then breached a resistance position of $65,000 and stood in the order of $70,000, $72,000 and $75,000. In the past approximately 48 hours, the BTC cumulatively increased by more than $110 million.

Much of the previous six weeks, bitcoin had fluctuated within narrow bands, with repeated shocks of $65,000, which had not been successful, and had also led some traders to build up and up into space. As prices quickly broke through multiple resistance positions, the empty space was forced back, further pushing up.

According to the CoinGlass data quoted in the paper, when bitcoin broke by $70,000, the cumulative size of the market was close to $3 billion, the bulk of which came from empty silos. Liquidation explains why the increase has been so rapid, but spot purchases and ETF inflows are considered to be more important factors in moving forward.

U.S. Treasury operations to improve the risk asset environment

The United States Treasury Department announced on August 19 that it would increase the single cap on long-term treasury liquidity to support buy-back operations from $2 billion to at least $4 billion. The new arrangements will enter into force on 9 September and continue until 4 November.

Following this announcement, the return on long-term United States debt fell and the United States dollar weakened. For highly volatile assets, falling bond yields usually improve relative attractiveness. At the same time, the article states that this operation does not amount to a direct stimulus to Bitcoin, but is still aimed at improving the market liquidity of long-term national debt.

Statements at the United States political level have also affected market sentiment. At a White House event on August 19, Trump called on Congress to adopt a “more equitable version” of the Digital Asset Market Clarity Bill. He also mentioned the possibility of expanding the United States hold of bitcoin, but there were currently no formal purchase arrangements, sources of funding or implementation schedules.

Short-wire kinetic energy, market interest between $70,000 and $72,000.

By the time it was sent out, the BTC price was about $76.29 million, the 24-hour increase was close to 9 per cent, and the last seven days were about 19 per cent. The article mentions that the current volume of trade is higher than the recent number of trading days, suggesting that there is financial synergy during the breakthrough phase.

It is also mentioned that the solar-line kinetic energy indicator is clearly strong, indicating a high pressure on short-line purchases. However, after a continuous surge, the market has also become overheating. The more immediate supporting area has been moved upwards to $770,000 to $72,000, and a strong structure is expected to continue if this belt is maintained.