Bitcoin surged from around $64,000 to just under $80,000 in four sessions last week, driven by the US Treasury’s doubling of its bond buyback operations and Trump’s meeting with crypto executives at the White House. A bullish RSI divergence on the weekly chart, similar to the one seen before the late 2022 bear market low, had however formed several months before these catalysts. Over the five sessions through August 21, US spot Bitcoin ETFs attracted approximately $1.92 billion in net inflows, while Ethereum funds added $697.2 million, for a combined total of $2.6 billion. Ecoinometrics’ flow model puts Bitcoin in a supported range of roughly $67,000 to $78,000, with fair value near $72,000, placing the current price at the top of the range justified by flows alone.
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