The price of bitcoin blasted past $79,000 around 9 a.m. EDT on Monday, August 24, 2026, as buyers kept their foot on the gas following last week’s blistering rally.
Key Takeaways
Bitcoin gained 24% in 7 days as ETF demand helped BTC punch above $79,000.Eric Balchunas said U.S. bitcoin ETFs pulled in nearly $2B last week.Bitcoin faces $79,406 resistance as the Fed’s September rate decision looms.“Anyway, this is one of the benefits of a commodity in a constant state of supply shock.”
Treasury Buybacks and Leverage Throw Gasoline on the FireToday alone, $337.28 million has been wiped out across crypto derivatives, including $66.43 million in BTC short positions.
Bitcoin Slams Into $79,406 as Major Catalysts LoomAny one of these pressure points could send BTC sharply in either direction. At the same time, bitcoin believers argue the next leg higher could dwarf anything the market has seen before. Strive CEO Matt Cole added fuel to that conviction Monday, arguing that bitcoin could be the thoroughbred leaving everything else in the dust.
At 9:55 a.m. EDT Monday, BTC was cruising at $78,272 and even lower after slamming into resistance at $79,406 and above. By 10:15 a.m., buyers had muscled it back above $79,000. Bulls keep hammering away, but that stubborn resistance ceiling overhead (specifically the psychological $80K zone) still refuses to crack.
