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Bitcoin(CRYPTO: BTC) briefly touched $81,455 overnight Friday, its highest level since May 15, before pulling back below $81,000 as altcoins gave back gains across the board.
What the Bitcoin Move Shows
According to CoinDesk, the overnight high marks the first time Bitcoin has touched that level since May 15, when price rejected at $82,800 and began a slide that bottomed near $57,000.
Since the Treasury’s bond buyback announcement on Aug. 19, Bitcoin has gained over 20% while Nasdaq 100 futures have traded sideways, extending a divergence that has been building all week.
Silver is up 1.5% Friday, keeping the debasement trade intact alongside Bitcoin.
What the Derivatives Data Shows
CoinDesk reported that crypto futures stayed active over the past 24 hours but lacked fresh directional conviction.
Open interest held just above $140 billion while volume rose nearly 10% to $222 billion, with short sellers slightly ahead at 51% of flow. Neither side is fully in control heading into the weekend.
SOL futures were a notable exception, with open interest climbing to its highest since early July though sellers are growing more active at current prices
Meanwhile, Bitcoin’s implied volatility meanwhile fell to 41% from a recent high of 50%, a sign that traders are not pricing in a major reaction from Fed ChairKevin Warsh‘s Jackson Hole speech Friday.
President Donald Trump’s meme coin TRUMP(CRYPTO: TRUMP) surged 24% in 24 hours to around $2.80 with open interest jumping 57% over the past week to $188.72 million, pointing to a derivatives-driven move rather than organic spot demand.
Where Bitcoin Stands Technically?
BTC is consolidating inside its ascending channel with the 20-day and 50-day EMAs tracking tightly below as rising support.
Reclaiming $81,354 reopens the recent highs while losing $78,800 risks a deeper channel retest.
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