Bitcoin recently rallied from around $64,000 to just under $80,000 across a four-session span. The sharp upward movement coincided with several macro developments, including a US Treasury announcement regarding long-end liquidity support buyback operations, falling long-dated yields, a White House meeting with crypto executives, and the SEC's publication of its Regulation Crypto Assets proposal.
However, technical analysts point out that the market conditions had been building for months. Throughout the first half of 2026, Bitcoin recorded lower lows while the Relative Strength Index (RSI) formed higher lows. This pattern, known as a bullish divergence, indicates that selling pressure is draining away while prices continue to fall. Similar weekly divergences formed during the bear market low in the second half of 2022.
Additionally, daily momentum experienced a dramatic expansion. The daily RSI moved from the low 40s during a period of sideways trading to over 80, peaking close to 90 within a single week. Market observers noted a similar configuration from late 2022 into January 2023, preceding a vertical expansion in both price and momentum.
Fundamental metrics also reflected increased institutional interest. According to SoSoValue data, US spot Bitcoin exchange-traded funds recorded approximately $1.92 billion in inflows over five sessions, marking their strongest week of 2026 and the highest intake since October 2025. Ethereum funds added $697.2 million, bringing total combined inflows to $2.6 billion, with both categories seeing positive inflows across all five trading days and reversing a prior week of outflows. Furthermore, Bitcoin cleared its 200-day moving average, near $69,000, for the first time in nine months.
Despite the strong weekly performance, broader metrics show lingering caution. Bitcoin ETFs still carry net outflows across 2026 as a whole, and weekend data showed open interest in Bitcoin futures declining by 2.65% with funding near baseline levels, indicating potential leverage clearing out of the market.
