Bitcoin briefly tops $79,000 as institutional demand, ETF inflows and CLARITY Act optimism fuel bullish momentum

Staggered entries, selective profit-booking and careful position sizing can help navigate periods of heightened volatility.
Dipen Pradhan
August 24, 2026 / 09:54 IST

• Bitcoin surged over $79,286, then eased to $77,282.05.
• Driven by institutional flows & regulatory optimism.
• Experts advise disciplined investing, avoid chasing surge.

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Bitcoin surged over $79,286 in early trade on August 24, and later eased to $77,282.05 (08:37 IST), up 0.31 percent over the past 24 hours and 22.07 percent for the week, with institutional flows, regulatory optimism and improving liquidity expectations all contributing to sentiment.

The US Treasury’s expansion of longer-duration bond buybacks helped trigger the initial risk-on move as yields eased, while renewed momentum around the CLARITY Act has improved expectations for a more defined regulatory framework for digital assets in the US.

A crypto analyst noted that the crypto rally has entered a consolidation phase after last week’s vertical breakout.

“Importantly, momentum has cooled significantly without a major price retracement. BTC’s 4-hour RSI has fallen from above 90 to around 69. At the same time, Bitcoin implied volatility remains elevated at around 43.6, after rising sharply from the mid-30s. This suggests the extreme overbought conditions are being worked off through sideways consolidation, although options markets continue to price elevated volatility,” Riya Sehgal, Research Analyst, Delta Exchange, said.

Meanwhile, institutional demand has strengthened considerably. US spot Bitcoin ETFs attracted about $1.92 billion across five consecutive sessions from August 17-21. This includes $517.2 million on August 19, $606.3 million on August 20 and $307.5 million on August 21.

“The rally, initially driven by a forced short squeeze, is now seeing stronger support from genuine ETF demand. Historically, Bitcoin has ended higher than 70 percent of the time over the following 30-180 days after similarly sharp rallies,” Prateek Gupta, Head of Business at Mudrex, said.

WazirX noted that selling pressure was sharper among altcoins in the last 24 hours. XRP lost 1.95 percent, Dogecoin dropped 1.55 percent, and Cardano underperformed with a 2.45 percent fall. “The overall market price movement signals a cautious sentiment, with investors not going big on risk exposure, and holding a more defensive market stance.”

Here’s how major cryptocurrencies moved over the past 24 hours.

What should investors watch for

According to Avinash Shekhar, Co-Founder & CEO of Pi42, investors should remain disciplined rather than chase prices after a strong rally. “Staggered entries, selective profit-booking and careful position sizing can help navigate periods of heightened volatility. The focus should now be on whether Bitcoin can hold its recent gains, whether trading volumes remain supportive and whether capital continues to broaden into assets such as Ethereum and XRP. These factors will offer a clearer indication of whether the current rally has enough strength to extend further.”

Vikram Subburaj, CEO of Giottus, suggests, ” Investors should avoid chasing last week’s surge. Staggered entries and disciplined position sizing remain preferable, with 75,500-76,000 the immediate zone to watch for signs that Bitcoin can sustain its new range.”

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Dipen Pradhan is the Editorial Consultant for Moneycontrol. He has over 10 years of experience in the field of journalism and covers personal finance topics. He has previously worked at Forbes Advisor India, Outlook Money, Entrepreneur, Inc42, and The Statesman. When he is not writing he loves to travel to explore rural hotspots.
first published: Aug 24, 2026 09:54 am

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