Bitcoin hits $80,000 as macro factors drive rally
Bitcoin (BTC)
Editor:
Eugene Serbin
Hindustan Times reports that Bitcoin could reach $500,000 by 2029 if institutional demand and ETF inflows continue to strengthen. The asset recently posted its strongest weekly rally since March 2023, rising 23.6% to move above $80,000. Experts attribute this surge to macroeconomic conditions rather than crypto-specific dynamics, particularly the US Treasury doubling its monthly bond purchases to $4 billion.
This move aimed to lower long-term yields and weakened the US dollar, reviving the debasement trade. Blue Macellari of T. Rowe Price identified this narrative as the primary driver behind Bitcoin's recovery amid $40 trillion in government debt. Bitwise’s André Dragosch noted that seller exhaustion reached levels not seen since November 2018.
US digital-asset ETFs recorded $2.36 billion in net inflows for the week, with strong daily buys on August 20 and 21. Prateek Gupta of Mudrex stated that Bitcoin would need to grow at roughly 60% annually to hit the $500,000 target. Singhal described the goal as ambitious but possible with sustained institutional participation. Minal Thukral of CoinDCX added that deeper global liquidity and the 2028 halving are also required for such growth.
How the market reacted
Whalio's own Binance spot order flow for BTC, measured when this story was written up on 28 August 2026. Not the outlet's figures.
BTC is trading at $80,249.58 with a 1-hour buy ratio of 53.6%, indicating immediate buying pressure. This contrasts with the 24-hour buy ratio of 45.2%, showing that short-term momentum is stronger than the daily average. The 1-hour volume delta is positive at $1,905,004, while the 24-hour delta is negative $123,102,218. A positive volume delta means buyers are actively absorbing sell orders, whereas a negative delta suggests sellers have dominated the full day. The 4-hour buy ratio sits at 50.1%, suggesting a balance between buyers and sellers over that timeframe. This indicates that while the day has been net selling, recent hours have seen a shift toward accumulation.
The latest daily buy ratio of 46.7% sits at the 18th percentile of the last 322 days, against a median of 49.2% - weaker buying than most days.
Twenty-four hours later
What BTC did over the 24 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for BTC, averaged over the days leading up to the story.
Over the preceding week, the 7-day average buy ratio was 51.1%, compared to the 24-hour ratio of 45.2%. This 5.8-point drop shows that today’s buying intensity is lower than the weekly average. Spot volume was 0.65x the average, indicating lighter trading activity than usual. The 8-day price change was +9.9%, with a total volume delta of +$171,556,665. While the week has been net positive, today’s lower volume and buy ratio suggest a cooling off from the previous week's intensity.