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Bitcoin extends gains as investors turn to assets resistant to currency debasement
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Bitcoin extends gains as investors turn to assets resistant to currency debasement
Economies.com
2026-08-27 12:21 UTC
Bitcoin continued to climb toward the $80,000 level on Thursday, holding onto the steady gains it has recorded since last week. Bloomberg ETF analyst Eric Balchunas pointed to growing demand for Bitcoin amid a broader debasement trade across currencies and financial assets.
Bitcoin’s Spent Output Profit Ratio has moved above 1, indicating that investors have begun taking profits following the cryptocurrency’s recent recovery.
Bitcoin’s technical outlook points to further upside, with traders awaiting confirmation of a breakout above the $80,000 level.
Bitcoin’s growing role as a debasement-resistant asset
The debasement trade reflects a strategic shift in investment positioning that typically emerges when expectations grow that money or other financial assets will lose part of their value.
Elevated US inflation and US government debt exceeding $40 trillion are reinforcing this trend, driving demand toward scarce assets, particularly gold and Bitcoin.
Eric Balchunas, senior ETF analyst at Bloomberg, highlighted renewed institutional demand for gold and Bitcoin in a post on X on Wednesday.
Data shared by Balchunas showed that gold and Bitcoin ETFs attracted combined inflows of more than $7 billion over the past week, marking the largest five-day inflow on record. The surge was driven primarily by debasement trades, which are drawing capital away from artificial intelligence stocks.
Balchunas also suggested that Bitcoin’s next rally could center on its identity as an asset resistant to currency debasement, rather than shorter-term narratives such as the Clarity Act, ETF adoption and Strategy’s Bitcoin treasury flows.
Data from SoSoValue showed that Bitcoin ETFs recorded net inflows of $232.12 million on Wednesday, extending their streak of positive flows to an eighth consecutive day.
Bitcoin’s Spent Output Profit Ratio, which measures the price at which Bitcoin is spent relative to its original purchase price, is hovering around 1.01 after moving above 1 on August 20, indicating that Bitcoin holders have begun taking profits.
A sustained reading above 1 typically signals a stable Bitcoin recovery, with continued buying demand absorbing selling pressure generated by increased supply.
Oil rises as markets assess prospects for reopening Strait of Hormuz
Economies.com
2026-08-27 11:31 UTC
Oil prices rose on Thursday after falling earlier in the session, as investors assessed the prospects for progress toward reopening the Strait of Hormuz alongside broader risks to energy supplies in the Middle East.
Dollar edges higher as focus shifts to Fed remarks at Jackson Hole
Economies.com
2026-08-27 11:02 UTC
The US dollar edged higher on Thursday, recovering some of last week’s losses as investors awaited signals on the Federal Reserve’s monetary policy path from the Jackson Hole symposium, following data showing inflation remained higher than economists had expected.
Source: www.economies.com