Bitcoin Runs Into $80,000 Resistance as Markets Track US Policy Signals

Bitcoin briefly reclaimed $80,000 for the first time since mid-May, topping out around $81,257 before slipping back into the $78,000–$79,000 range. The surge translated into a weekly gain of roughly 22% to 28%. The spark came from an unlikely corner: the US bond market. On August 20, US Treasury Secretary Scott Bessent said the government would sharply step up buybacks of long-dated Treasuries, effectively doubling planned purchases. The move helped push yields lower and weaken the dollar—a backdrop that often favors risk assets, including Bitcoin. Traders are now focused on a well-watched supply zone. Analysts point to $80,000 to $83,000 as a key resistance band based on past price behavior and volume. A sustained move above $83,000 could set up a push toward $85,000 or higher. If the breakout fails, Bitcoin could slide back toward the mid-$70,000s. Flow data has added fuel to the rally. Spot Bitcoin ETFs took in an estimated $1.9 billion to $2.4 billion over the week, the strongest inflows since October 2025. At the same time, short liquidations topped $2 billion during the advance, with some estimates as high as $4 billion. Two near-term US events could reset expectations. The personal consumption expenditures (PCE) inflation report is due August 26, the Federal Reserve’s preferred inflation gauge. The Jackson Hole Economic Policy Symposium follows August 27 to 29, where Fed Chair Kevin Warsh is expected to speak, potentially offering clues on the policy outlook. Strategists say the Treasury’s stepped-up buybacks are part of the broader setup: by keeping long-term yields in check, fixed income looks less compelling on a relative basis. For Bitcoin, $83,000 remains the key test. A decisive break on strong volume could pave the way toward $85,000–$100,000, according to analysts monitoring the resistance zone. Another rejection could pull the price back to the $74,000–$76,000 area.