BTCC Daily (8.25) | Bitcoin Breaks Above $80,000, SOL Jumps 8% to Top $100

Top Highlights

• Bitcoin rose as high as $81,237.94, reaching a more than three-month high, with cumulative gains of about 28% in August.

• SOL broke above $100, rising about 6.71% over 24 hours. Spot Solana ETFs recorded single-day net inflows of $33.49 million.

• On August 24 ET, U.S. spot Bitcoin and Ethereum ETFs saw net inflows of $338 million and $116 million, respectively, both marking the sixth consecutive trading day of net inflows.

Macro & Policy Outlook

Today’s Key Events

• U.S. August Conference Board Consumer Confidence Index

• U.S. August Richmond Fed Manufacturing Index

Macro Headlines

1. U.S. long-term Treasury yields remain elevated, Treasury may use TGA to expand buybacks

U.S. 10-year and 30-year Treasury yields remained near 4.71% and 5.24%, respectively. Reports said the U.S. Treasury may use part of the nearly $1 trillion Treasury General Account to help fund expanded long-term Treasury buybacks, reducing the need for additional short-term Treasury issuance.

2. U.S. threatens secondary sanctions on Iran, but does not immediately announce new penalties

The U.S. government asked relevant countries to reduce commercial dealings with Iran or risk facing secondary sanctions, but the Treasury has not yet announced a specific new sanctions list. Iran said it would take countermeasures and believes major trading partners will not halt related trade. International oil prices stabilized after falling more than 2% in the previous session.

3. Trump threatens to raise tariffs on Canadian autos to 50%

U.S. President Trump said he plans to raise tariffs on Canadian cars, trucks, and auto parts to 50% starting January 1, 2027. U.S.-Canada trade talks had already broken down, while the Canadian dollar remained weak. Risks to North American auto supply chains and inflation have increased further.

4. Markets stay cautious ahead of Nvidia earnings, options imply about $280 billion market-cap swing

Nvidia will report quarterly results after the U.S. market close on August 26 ET. Markets expect quarterly revenue to approach $92 billion. The options market implies a post-earnings share-price move of about 5.4%, equivalent to about $280 billion in market-cap change. AI demand and cloud service providers’ capital expenditure guidance will be key market focuses.

5. Markets await U.S. PCE and Warsh’s first Jackson Hole keynote speech

The U.S. will release July PCE inflation, revised Q2 GDP, and durable goods orders on August 26. Fed Chair Warsh is expected to deliver a keynote speech at the Jackson Hole symposium on August 28. Markets will focus on his comments regarding the inflation target, interest-rate path, and long-term Treasury yields.

Global Asset Performance

• Equities: Japan’s Nikkei 225 closed up 0.50%. Korea’s KOSPI Index closed up 0.68%, with Samsung Electronics flat and SK Hynix rising 0.42%. In U.S. premarket trading, at press time, Nasdaq 100 futures were up about 0.33%, S&P 500 futures rose about 0.10%, and Dow futures fell about 0.02%.

• Crypto: The CoinMarketCap Crypto Fear & Greed Index stood at 83, in the extreme greed zone. Total crypto market capitalization was about $2.71 trillion, up about 2.96% over the past 24 hours. BTC traded above $80,000, up about 3.40% in 24 hours. Today’s trending cryptocurrencies: SOL rose about 7.9%, while CASHCAT gained about 67%.

• Energy & Metals: Brent crude was nearly flat around $92.13 per barrel, while WTI crude rose about 0.1% to $85.08 per barrel. Spot gold was nearly flat at $4,645.67 per ounce, while spot silver fell about 0.7% to $68.43 per ounce.

(Data as of August 25, 15:00 HKT)

Crypto Market Snapshot

1. Futures Capital Flow Analysis

On August 25, according to Coinglass data, BTC, SOL, ZEC, SHIB, and other contracts led net inflows in futures trading over the past 24 hours, potentially signaling trading opportunities.

2. Bitcoin Liquidation Heatmap

On August 25, according to Coinglass data, based on the current reference price of $79,890 on the Bitcoin exchange liquidation map, if Bitcoin falls below $78,000, cumulative long liquidation intensity across major CEXs could reach $1.19 billion. Conversely, if Bitcoin breaks above $82,000, cumulative short liquidation intensity across major CEXs could reach $940 million. Traders are advised to manage leverage prudently to avoid large-scale liquidations during market swings.

3. Bitcoin Long/Short Ratio

According to Coinglass data, as of 16:00 HKT on August 25, the overall Bitcoin long/short ratio stood at 1.4535, indicating that bulls currently hold a relative advantage.

4. Stock Futures Performance

On August 25, stock contracts were mixed. SPCX led gains with a 1.33% rise, while SNXX was the weakest performer, down 2.03%. Trading volume increased broadly, with SPCX and SNXX volume up 419.45% and 363.56%, respectively. In terms of open interest, SNXX OI rose 14.50%, while SKHYNIX fell 8.98%, showing clear capital divergence.

5. On-Chain Monitoring

• According to Whale Alert, 659 BTC was transferred from Coinbase Institutional to an unknown wallet, worth about $52.04 million.

• On-chain data shows that an unknown whale deposited about 192.8 million USDC into Aave, with a transfer value of about $192.8 million.

• According to Whale Alert, 1,000 WBTC was transferred to an address related to Bitcoin mining pool F2Pool, worth about $77.41 million.

Blockchain Headlines

• On August 24 ET, U.S. spot Bitcoin ETFs recorded net inflows of $338 million, marking the sixth consecutive trading day of net inflows. BlackRock’s IBIT saw about $209 million in net inflows, while Fidelity’s FBTC saw about $105 million.

• U.S. spot Ethereum ETFs recorded net inflows of $116 million over the same period, also marking the sixth consecutive trading day of net inflows. BlackRock’s ETHA saw about $90.92 million in net inflows, while Grayscale Ethereum Mini Trust saw about $12.5 million.

• U.S. spot Solana ETFs recorded single-day net inflows of $33.4896 million. Bitwise Solana Staking ETF saw net inflows of $24.994 million, while Fidelity Solana ETF saw $4.84 million. Related ETFs’ total net assets rose to about $1.214 billion.

• Solana launched its first formal governance vote. The three proposals involve a network constitution, raising the annual inflation reduction rate from 15% to 30%, and introducing a resource-consumption-based fee mechanism with fee burns. Voting is expected to end on August 27. During the same period, Solana processed about 1.318 billion non-vote transactions in a single week, a record high.

• Strategy sold common stock last week to raise about $2.01 billion, but did not buy or sell Bitcoin for a second consecutive week. The company’s holdings remained at 840,447 BTC, with an aggregate purchase cost of about $63.36 billion.

• India plans to issue its first tokenized corporate bond in September, with a size of no more than 5 billion rupees. It will initially target selected institutional investors and use a wholesale central bank digital currency for subscription and settlement.

• The U.S. Blockchain Association supports federal agencies in formulating stablecoin rules under the GENIUS Act, while recommending that customer identification requirements be limited to the primary market where issuers transact directly with customers, avoiding repeated compliance obligations in secondary markets.

• RedotPay expects annual global stablecoin card spending to reach $50 billion by 2028, about four times the current level. In July this year, monthly spending on related cards exceeded $1 billion for the first time.

Institutional Insights · Daily Picks

• Standard Chartered Head of Digital Assets Research Geoff Kendrick said the U.S. Treasury’s expansion of long-term Treasury buybacks has reinforced market attention on the currency-debasement trade. Bitcoin, as an asset that can hedge against policy intervention and declining fiat purchasing power, is regaining investor attention.

• Citi analyst Alex Saunders said spot ETF flows remain a key factor affecting Bitcoin’s price. After persistent weakness in flows since October 2025, a return to steady ETF inflows is an important indicator for whether the current rally can continue.

• Billionaire investor Stanley Druckenmiller said the Treasury’s expansion of long-term Treasury buybacks amounts to price management and could damage the credibility of the U.S. Treasury market. To sustainably lower long-term yields, the U.S. needs to address the underlying fiscal deficit rather than rely on liquidity tools.