Bitcoin faces resistance at $80,000 as traders await US policy signals

Bitcoin punched through $80,000 for the first time since mid-May, reaching an intraday peak near $81,257 before settling back into the $78,000 to $79,000 range. The move represented a roughly 22% to 28% gain over the preceding week. The catalyst for the rally was surprisingly old-school: bonds. US Treasury Secretary Scott Bessent announced on August 20 that the government would substantially increase its long-dated bond buybacks, effectively doubling planned purchases. That drove bond yields lower and weakened the dollar, creating the exact cocktail that risk assets like Bitcoin tend to thrive on. The $80K wall and what’s behind it Analysts have flagged the $80,000 to $83,000 zone as a critical resistance band, shaped by historical price action and volume patterns. A sustained push above $83,000 could open the door to a move toward $85,000 or higher, while a failure to hold ground might drag the price back toward the mid-$70,000s. Spot Bitcoin ETFs recorded weekly inflows estimated between $1.9B and $2.4B, the strongest showing since October 2025. Meanwhile, short position liquidations exceeded $2B during the rally, with some estimates placing the figure as high as $4B. Two data po...