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Crypto 24.08.2026: BTC ~78,700 USD, Nearing 80k
Daily overview of the global crypto market on Monday, 24th August: Bitcoin, Ethereum, and altcoin movements, macro backdrop ahead of the Fed's Jackson Hole Symposium, ETF flows and liquidity, regulation, exchange and industry events, and security incidents. Bitcoin held around $78,700 (approx. +2.2% in 24 hours) and briefly approached $80,000 in the Asian session for the first time since May, while Ethereum traded around $2,470-2,507 (approx. +1.4%).
On Monday, 24th August, the crypto market continued its August rally, holding in a high zone while awaiting guidance from the Fed's Jackson Hole Symposium. According to Investing News (24.08., 22:00 UTC), Bitcoin traded around $78,729 (approx. +2.2% in 24 hours) and neared $80,000 in the Asian session for the first time since May; Fortune's morning summary placed BTC around $78,976 with a market cap of approximately $1.33 trillion. Ethereum traded around $2,470-2,507 (approx. +1.4%), XRP around $1.48-1.51 (approx. -2.2%), and Solana around $96.55. The rally was sustained by expectations of a looser Fed policy, weaker short-term bond yields, and institutional ETF inflows (approx. $1.92 billion weekly). On the industry security front, Term Finance suffered a governance attack on 23rd August (approx. $8.5 million).
Global Crypto Market on 24th August: Bitcoin Nears $80,000 Ahead of Fed Guidance
On Monday, 24th August, the global cryptocurrency market continued its August rally, holding in a high-level zone while awaiting signals from the Federal Reserve (Fed) at the Jackson Hole Symposium. According to a summary from the Investing News Network (INN) (data as of 24th August, 22:00 UTC), Bitcoin traded around $78,729 (approx. +2.2% in 24 hours) and briefly approached $80,000 in the Asian trading session-the first time since May. Ethereum remained around $2,470-2,507 (approx. +1.4% in 24 hours). The movement was primarily sustained by expectations of Fed rhetoric, continued institutional ETF inflows, and weaker yields on US short-term bonds. This article is a factual summary and analysis of causes, not investment advice.
Market Overview
Bitcoin's price on Monday fluctuated within a relatively narrow but high range, depending on the measurement time. According to INN data (24th August, 22:00 UTC), BTC traded around $78,729 with an approximate 2.2% increase in 24 hours, but briefly approached $80,000 in the Asian session-according to the source, for the first time since May. Fortune's morning summary on 24th August (approx. 9:00 AM US Eastern Time) recorded BTC around $78,976 (approx. +2.14%, or +$1,661.69 against the previous morning) with a market capitalisation of approximately $1.33 trillion. Yahoo Finance on the same morning (8:50 AM ET) indicated a higher level-around $79,106.77-but with a more moderate 24-hour increase (approx. +0.8%), while CoinStats' daily summary mentioned approximately $77,464 (+1.67%). These differences reflect the rapidly changing intraday price and various measurement times, rather than contradictions between sources.
Ethereum maintained an upward, but Bitcoin-shadowed, trajectory on Monday. According to Fortune data, ETH traded around $2,506.44, Yahoo Finance around $2,507.22 (approx. +1.6% in 24 hours), and INN and CoinStats around $2,470.44 (+1.4%) and $2,455.62 (+2.83%) respectively. On a weekly and monthly basis, Ethereum's performance was stronger than Bitcoin's: according to Yahoo Finance data, ETH's weekly increase on 24th August was approximately +31.4% and monthly approximately +31.2%, while Bitcoin's was approximately +23.7% and +19.5% respectively. At the same time, annual figures for both assets remained distinctly negative-Bitcoin approximately -30.4% (Fortune) to -32.6% (Yahoo) and Ethereum approximately -48.4% (Yahoo)-emphasising that the market is still recovering from a prolonged downturn. Ethereum's all-time high ($4,953.73) dates back exactly one year, to 24th August 2025.
In the altcoin segment, movement on Monday was more mixed than the broad rally of the previous week. According to INN data, XRP traded around $1.48 with an approximate -2.2% correction in 24 hours (Fortune recorded around $1.51 on the same day), while Solana (SOL) was around $96.55 (approx. +0.8%). CoinStats' daily summary highlighted some larger gains in mid-cap tokens, including Aave (approx. +17.16% to $138-142), Uniswap (approx. +10.15% to $4.43), and Zcash (approx. +7.22% to $843.18). Overall, the daily data suggests that after the sharply coordinated rally of the previous week, the market entered a more selective phase where leading assets held their ground, but altcoin movements became more heterogeneous.
What Influenced the Market
Monday's main focus was macroeconomics and the Fed. According to Yahoo Finance, investors at the start of the week were looking for further clues about the central bank's future actions in the context of the Jackson Hole Symposium, with softer inflation and weaker employment (payrolls) data remaining in the background. Analysts' assessments were illustrated by CoinShares' comment that "short-term bond yields have fallen-a clear signal that bond investors no longer expect further Fed rate hikes." Lower short-term yields and expectations of looser monetary policy tend to support risk assets, including cryptocurrencies. Several sources cited the $80,000 level as the nearest technical resistance for Bitcoin's price.
On the institutional flow side, exchange-traded funds (ETFs) continued to attract capital. According to INN and CoinStats, spot Bitcoin ETFs attracted approximately $1.92 billion in the last week-according to sources, the strongest week in about ten months and a turnaround after several previous weeks of outflows. In more detail: on 20th August, approximately $606.3 million flowed into spot Bitcoin ETFs (primarily through BlackRock's iShares Bitcoin Trust), and on 21st August, approximately $307.5 million into Bitcoin ETFs and approximately $184 million into Ethereum ETFs. At the same time, tension in the derivatives market was significantly lower than at the beginning of the week: over $220 million in positions were liquidated in the last 24 hours-many times less than the approximately $2.99 billion liquidation wave on 19th August-indicating that the rapid, short-squeeze driven rally had subsided and the price was held by a more stable demand base.
The regulatory backdrop remained favourable for the rally. According to INN and CoinStats, the US Securities and Exchange Commission's (SEC) proposed "Regulation Crypto Assets" framework, published on 18th August, was still in the public consultation phase (comments until 20th October), addressing investment contract criteria and disclosure requirements. The market also awaited a procedural vote on the so-called CLARITY Act, reportedly scheduled for around 15th September. Additional liquidity support for the market was provided by the US Treasury's expanded bond repurchase programme, which begins on 9th September. These factors are a medium-term backdrop, not events of the review day, but they explain why market sentiment remained positive on Monday.
Exchange and Industry Events
On Monday, 24th August, no new large-scale incidents or regulatory actions against specific major exchanges (Binance, Coinbase, Kraken, OKX, Bybit) were confirmed in public sources; the day's industry narrative was primarily driven by macro and institutional flows. Regarding specific exchange news, CoinStats mentioned Gate platform's planned spot market listing on 24th August at 07:00 UTC-a standard operational activity not related to the day's price movement.
Against the backdrop of institutional corporate activity, corporate Bitcoin accumulation continued. According to INN, Strategy (MSTR) reported a total holding of 840,447 BTC (total acquisition cost approximately $63.36 billion), while Strive (ASST) reported the acquisition of 1,110 BTC worth approximately $81.5 million, increasing its total holding to 21,356 BTC. On the industry partnerships front, Gemini Space Station and Apex Fintech Solutions signed a letter of intent to distribute a regulated cryptocurrency prediction market to retail brokers. These events mark a continued trend of institutional and traditional finance integration, which was one of the structural market pillars in 2026.
Security Incidents
On 24th August itself, no new, clearly dated large-scale security incidents were confirmed in public sources. The most recent, precisely dated event in the industry security backdrop is the attack on the DeFi protocol Term Finance (Term Labs) the previous day. According to BeInCrypto and PeckShield, the attack occurred on 23rd August around 12:35 UTC, and the attacker exploited a governance vulnerability in the protocol's vault system. Total losses are estimated at approximately $8.5 million-approximately 2,843 ETH (approx. $6.87 million) and 1.68 million USDC, which were then exchanged for approximately 1.68 million DAI. The attacker's wallet was initially funded with 2 ETH withdrawn from the privacy mixer Tornado Cash. Term Labs' vaults had approximately $12.2 million in total value locked (TVL) at the time of the attack, of which approximately $8.6 million was on the Ethereum network. According to BeInCrypto, this is the second significant attack on Term Finance after the oracle configuration error incident in April 2025 (approx. $1.65 million). The incident is considered a governance vulnerability of a specific protocol, not a flaw in the Ethereum network.
Context and Outlook
Monday's resilience should be viewed in the broader context of the August rally. According to INN, August was Bitcoin's strongest August since 2017, breaking the historically bearish August seasonality trend, while the weekly rally (approx. +22.6%) was the strongest seven-day period since 12th November 2024. Bitcoin dominance, according to CoinStats data on 24th August, was around 62.5% of the aggregated market capitalisation, although other summaries (tv-hub.org) for August 2026 mentioned a lower level of around 58.8%; differences are explained by varying methodologies and measurement times. Despite a strong month, distinctly negative annual figures (Bitcoin approx. -30% to -33%, Ethereum approx. -48%) remind us that the market is still in a recovery phase from a prolonged downturn.
In the near term, market attention is likely to focus on several factors. Firstly, on Fed rhetoric at the Jackson Hole Symposium and subsequent expectations for the rate trajectory. Secondly, on the regulatory schedule-the conclusion of the SEC's "Regulation Crypto Assets" consultation (by 20th October) and the procedural vote on the CLARITY Act around 15th September. Thirdly, on the actual start of the US Treasury's bond repurchase programme on 9th September and the sustainability of institutional ETF flows. Several observers note that after a rapid August rally, the market may be susceptible to corrections if macroeconomic expectations are not met or ETF demand weakens. This article is an informative overview and should not be considered investment advice; always conduct your own research before making decisions.
Sources
- Investing News Network - "Crypto Market Update: Bitcoin's Best August Since 2017 Breaks Historically Bearish Pattern" (data as of 24.08.2026, 22:00 UTC): https://investingnews.com/cryptocurrency-market-recap/
- Yahoo Finance - "Bitcoin and ethereum prices today, Monday, August 24, 2026: Prices rising, as investors look for more Fed clues this week" (24.08.2026): https://finance.yahoo.com/personal-finance/investing/article/bitcoin-and-ethereum-prices-today-monday-august-24-2026-prices-rising-as-investors-look-for-more-fed-clues-this-week-130538704.html
- Fortune - "Current price of Bitcoin for August 24, 2026" (24.08.2026): https://fortune.com/article/price-of-bitcoin-08-24-2026/
- CoinStats - "Latest Crypto News Update - August 24, 2026" (24.08.2026): https://coinstats.app/ai/a/crypto-news-update-24-August-2026
- BeInCrypto - "Another DeFi Hack: Term Labs Loses $8.5 Million in Governance Exploit" (23.08.2026): https://beincrypto.com/term-labs-defi-exploit-vaults/