Weekly Recap｜Bitcoin Surges Past $79K, ETF Inflows Rebound, Echobit Expands Community Engagement
2026.08.24
Weekly Recap｜August 17 – August 23
Last week, the crypto market staged a strong rebound. Bitcoin (BTC) climbed from around $63,000 at the start of the week to briefly break above $79,000, gaining more than 21% for the week—one of its strongest weekly performances in nearly three years. The rally was supported by shifts in U.S. fiscal and bond markets, a weaker U.S. dollar, improving risk sentiment, and renewed inflows into crypto ETFs. BTC- and ETH-related spot ETF products both saw a notable recovery in capital inflows.
This week, the crypto market is expected to maintain its strong momentum, although short-term volatility may increase significantly. Market attention will remain focused on ETF flows, the U.S. dollar, Treasury yields, and Federal Reserve policy expectations. With BTC and ETH spot ETFs recording renewed net inflows and the dollar remaining near multi-month lows, the broader risk-asset environment continues to provide support for crypto markets.
This article takes a quick look back at the key developments in crypto over the past week and previews the major trends and events to watch in the week ahead.
Market Pulse
- Bitcoin briefly broke above $79,500, with daily net ETF inflows reaching approximately $606 million.
- Ethereum spot ETFs recorded four consecutive days of net inflows, with daily inflows reaching approximately $221 million.
- Bitcoin moved above its 120-day and 200-day moving averages, signaling a recovery in bullish market sentiment.
- The tokenized stock market continued to expand, with the number of holders doubling to 1.31 million within a month.
Funding & M&A
The crypto industry recorded 5 funding and M&A deals last week, with total funding exceeding $27.5 million, primarily focused on infrastructure and DeFi:
- Privacy blockchain project Beldex raised $8 million, led by Sigma Capital.
- NeoSoul raised $11 million in a Pre-A round to accelerate its AI economy strategy.
- Fortune Protocol announced multiple funding rounds totaling more than $4 million.
- Stripe acquired AI company OpenRouter for more than $7 billion.
- Cypherpunk Mining acquired assets from Winklevoss, becoming the largest Zcash mining company.
Policy & Compliance
- Donald Trump publicly urged Congress to advance the CLARITY Act, emphasizing the importance of U.S. leadership in digital assets.
- The U.S. Treasury opened public consultation on implementation rules for the GENIUS Act.
- South Korea's crypto market continued to institutionalize, with corporate accounts across the country's five major exchanges reaching 6,590.
- Trump said the CFTC is working to bring Hyperliquid into the U.S. market in a compliant manner.
Echobit Highlights
- Echobit August Futures Trading Competition continues to drive trading activity and market engagement.
- Echobit Spot Trading Competition officially launched, encouraging greater participation in spot trading.
- Echobit New User Exclusive Rewards launched, offering dedicated rewards and experiences for new users.
- Echobit X Community Giveaway continues to strengthen social media community engagement.
- Echobit Guess The Web3 Term continues with knowledge-based community challenges.
- Echobit Meme Contest launched, encouraging creative community content.
- Echobit Find Your Future Signal Challenge launched, combining interactive gameplay with market trends.
- Echobit Invite Frenzy officially launched, encouraging users to invite friends to join the community.
- Echobit Trading Brain King launched a trading knowledge challenge to enhance user engagement and learning.
- Echobit AI Trading Assistant Creative Challenge invited the community to explore new ideas for AI-powered trading.
- Echobit Unscramble Words Challenge continues with interactive puzzle activities.
- Echobit Pick Your Fighter Challenge launched, bringing a fun interactive format to the community.
- Echobit Altcoin Index Prediction Challenge invites users to predict altcoin index trends.
- Echobit The Moment Bitcoin Mooned Story launched a community storytelling campaign around memorable BTC moments.
- Echobit Token Emoji Challenge launched a fun token-themed guessing game.
- Echobit Pure Purple Challenge launched a creative community activity inspired by Echobit's signature brand identity.
Next Week Preview｜August 24 – August 30
- The EU will expand its crypto restrictions on Belarus to all MiCA service providers, effective August 25.
- TRON is expected to propose a TVM compatibility upgrade on August 25.
- The U.S. July PCE inflation data and revised Q2 GDP figures will be released on August 26.
- EASY Residency Season 4 Demo Day will take place in Bhutan on August 26, with CZ expected to attend.
- The U.S. CFTC will extend the comment period for rules covering 24/7 futures trading and energy perpetual contracts through August 26.
- NVIDIA's earnings report will be released this week, with its guidance viewed as a key test of the AI capital expenditure cycle.
- Fed Chair Waller is scheduled to speak for the first time at the Jackson Hole Economic Policy Symposium on August 28.
Echobit will continue tracking global crypto developments, focusing on market movements, regulatory trends, and funding opportunities—helping you navigate every market cycle and stay ahead.