Bitcoin Pauses After 23% Weekly Surge, Slips Back Below $79,000

Bitcoin slipped back below $79,000 as traders took profits after a 23% rally over the past seven days.

CoinDesk reported on Aug. 26 that Bitcoin was trading during Asian morning hours at around $79,000, down about 1% from a day earlier. The move followed a 23% gain over the previous week, pointing to short-term profit-taking.

Most major altcoins also traded lower. XRP fell more than 4% from a day earlier to about $1.44. Even so, it remained up about 45% for the week, making it one of the strongest performers among major cryptocurrencies. Solana fell more than 3% to around $97, while Ether dropped more than 1% to about $2,465. Dogecoin and BNB were down about 5% and 2%, respectively.

Longer-term market indicators, however, have improved. CryptoQuant's Bull Score surged to 80 from 30 in the span of a week. That was the highest reading since Oct. 6, 2025, when Bitcoin was trading at about $124,000. Eight of 10 market and on-chain indicators were signaling bullishness.

Demand indicators also strengthened. CryptoQuant said spot demand for Bitcoin is seeing its fastest monthly growth since late December 2025. It also marks the first time since early October 2025 that demand in both spot and futures markets has expanded at the same time.

Investor focus is now shifting to major U.S. economic data due this week and Federal Reserve Chair Kevin Warsh's speech at Jackson Hole. The US is scheduled to release second-quarter gross domestic product and July personal consumption expenditures inflation data. Warsh is set to deliver his first keynote address since taking office on Aug. 28 at Jackson Hole. Markets are pricing in about a 60% chance that the Fed will hold its benchmark interest rate at 3.50% to 3.75% in September.