BTCC Evening News Highlights (August 24)

1. Bitcoin Nears $80,000, Gains More Than 24% in Seven Days

Bitcoin climbed back toward $80,000 in early Asian trading, with CoinMarketCap last showing BTC at around $79,766, up 2.88% over 24 hours and 24.13% over the past seven days. After posting its largest-ever weekly gain in dollar terms last week, Bitcoin remains near a three-month high.

2. ETH Gains More Than 30% in a Week as SOL Jumps Nearly 7% Above $100

ETH was last trading around $2,491, up 30.71% over the past seven days. SOL performed even more strongly, gaining 6.99% in 24 hours to around $101.92 and 34.31% over seven days. XRP’s weekly gain remained above 50%, as the crypto rally continued to spread from Bitcoin into major higher-beta assets.

3. Total Crypto Market Cap Rises to $2.68 Trillion as Fear & Greed Index Hits 82

CoinMarketCap data showed total crypto market capitalization rising 2.19% over 24 hours to around $2.68 trillion, while trading volume jumped 41.78% to $130.9 billion. Bitcoin dominance increased to 59.65%. The Fear & Greed Index rose further to 82, putting market sentiment firmly in “Extreme Greed” territory.

4. CEX Trading Volume Doubles in Five Days as Daily Average Tops $37 Billion

The Block data showed that crypto exchange trading volume doubled from its yearly low in just five days. The seven-day moving average of daily volume has now exceeded $37 billion, while cumulative August volume has reached around $490 billion. Activity on centralized exchanges has recovered significantly following the sharp rallies in BTC and ETH.

5. Bitcoin and Ethereum ETFs Attract $2.6 Billion in Weekly Net Inflows, Highest in 10 Months

For the week ended August 21, US spot Bitcoin ETFs recorded $1.92 billion in net inflows, while spot Ethereum ETFs attracted $697.2 million, bringing the combined total to around $2.6 billion. It was the strongest weekly inflow since October 2025, while assets under management for both ETF categories also expanded substantially on inflows and price gains.

6. Strive Buys 1,110 BTC for $81.5 Million

Strive disclosed that it purchased 1,110 BTC for approximately $81.5 million between August 17 and 21 at an average price of $73,409. Following the transaction, the company’s Bitcoin holdings rose to 21,356 BTC, making it the world’s seventh-largest publicly listed corporate Bitcoin holder.

7. Bitmine Buys Another 32,447 ETH, Taking Total Holdings Above 5.85 Million

Bitmine Immersion bought an additional 32,447 ETH last week, worth approximately $81.5 million at current prices, lifting its total holdings to 5,847,611 ETH, or around 4.8% of Ethereum’s circulating supply. Its crypto assets, cash and other investments are worth approximately $14.9 billion in total.

8. Strategy Sells $2 Billion of MSTR Shares but Makes No Bitcoin Purchases This Week

Strategy disclosed that it sold approximately $2 billion of MSTR shares between August 17 and 23 but did not buy or sell any Bitcoin during the period, leaving its holdings unchanged at 840,447 BTC. The company increased its US dollar reserves to $5.1 billion and established an additional $1.59 billion “USD Cash” liquidity pool.

9. Hyperliquid Policy Group Urges SEC and CFTC to Harmonize Perpetual Futures Rules

The Hyperliquid Policy Center submitted comments to the SEC and CFTC calling for perpetual futures to be regulated based on their economic structure rather than the category of the underlying asset. The group said a coordinated framework between the two regulators could help perpetual markets enter the US in a compliant manner while reducing jurisdictional disputes.

10. South Korea Accelerates Second-Phase Crypto Legislation with Stablecoins at the Center

South Korea’s Financial Services Commission said it would accelerate consultations on the second phase of its regulatory framework, including the Digital Asset Basic Act, with the goal of advancing legislation this autumn. The framework will focus on won-backed stablecoins, trading platforms, asset disclosures and internal controls, while eligibility requirements for stablecoin issuers remain a key point of debate.

11. US Crypto Industry Steps Up Midterm Election Push as Stand With Crypto Backs 32 House Candidates

Coinbase-backed Stand With Crypto announced support for 32 US House candidates it considers “pro-crypto.” Meanwhile, the next key procedural vote on the CLARITY Act is scheduled for September 15, with uncertainty remaining over whether supporters can secure the 60 votes needed to advance the bill.

12. US Stocks Finish Mixed as Nasdaq Falls 0.76%

On August 24, the Dow rose 140.15 points, or 0.26%, to 53,417.16. The S&P 500 fell 0.28% to 7,652.86, while the Nasdaq declined 0.76% to 25,980.19. Financial stocks supported the Dow, while technology and semiconductor shares weighed heavily on the S&P 500 and Nasdaq.

13. Nvidia Falls for Seventh Straight Session as Micron and SanDisk Tumble

Nvidia fell 2.9%, marking its seventh consecutive losing session and its longest losing streak in roughly four years. Micron dropped around 5.9% and SanDisk fell 6.5%. Investors reduced AI-related exposure ahead of Nvidia’s Wednesday earnings report, putting the US semiconductor sector back at the center of pressure on global technology stocks.

14. US Long-Term Treasury Yields Ease as 30-Year Yield Falls to 5.23%

The US 10-year Treasury yield fell around 3.4 basis points on August 24 to 4.703%, while the 30-year yield declined about 4.6 basis points to 5.230%. Lower oil prices and the Treasury’s expanded long-dated bond buyback program supported a rebound in bonds, although long-term yields remain near multi-year highs.

15. Iran Vows Retaliation Against New US Sanctions, with Military and Economic Responses on the Table

Iran said it would respond after the US announced a new round of sanctions. Iranian officials said the country was prepared to withstand the measures, while the military warned that US interests in the Middle East could become targets if Iranian infrastructure is attacked. US-Iran tensions continue to escalate.

16. Brent Crude Falls More Than 2%, Ending Six-Day Winning Streak

Brent crude fell 2.35% on August 24 to $92.17 per barrel, while WTI also declined 2.35% to $85.01, ending six consecutive sessions of gains. Markets viewed the latest US sanctions on Iran as broadly in line with expectations, prompting significant profit-taking after the recent sharp rise in oil prices.

17. Gold Hits $4,680 as Gold ETFs See Largest Inflow in 10 Months

Spot gold reached an overnight high of $4,680.70, its highest level since May 14, and was still up around 0.8% by the close. World Gold Council data showed gold ETFs attracted net inflows of 46.7 tonnes last week, worth approximately $6.4 billion, the largest weekly inflow in 10 months.

18. Trump Threatens 50% Tariff on Canadian Autos as Trade War Escalates

President Trump announced plans to raise tariffs on all Canadian-made cars, trucks and auto parts to 50% starting January 1, 2027. Canada plans to impose reciprocal retaliatory tariffs on selected US goods from September 8, with the breakdown in bilateral trade talks adding further pressure to North American supply chains.

19. Alibaba’s $10.2 Billion Share Placement Sparks Dilution Concerns, Hong Kong Shares Fall More Than 10% Intraday

Alibaba placed 710 million new shares at HK$112.70 each, raising approximately HK$80 billion, or $10.2 billion, with all proceeds earmarked for AI chips, computing infrastructure and models. The placement price represented an 8.4% discount to Friday’s close, and Alibaba’s Hong Kong-listed shares fell as much as 10.5% intraday.