Bitcoin reached a 15-month peak above $81,000 this week, marking its highest level since mid-May, though it later retreated to around $79,000 following remarks by Federal Reserve Chair Kevin Warsh at Jackson Hole. The cryptocurrency gained 2.5% over the weekly period.
The rally began when Bitcoin surged from below $65,000 to nearly $80,000 in two days following an announcement that catalyzed broader market movement. After a weekend correction to $75,500, buyers returned at the start of the new business week, pushing the asset above $80,000 on Tuesday morning for the first time in months. Bitcoin later climbed past $81,000 and touched $81,500 on most exchanges before profit-taking emerged.
Several altcoins significantly outperformed Bitcoin. Solana reclaimed the $100 level for the first time since late January, while ZEC, XMR, RAIN, and PUMP posted double-digit weekly gains. Ether rose 4.7% to $2,510. In contrast, ADA, XLM, and BCH declined up to 5% weekly.
Market snapshot: The cryptocurrency market capitalization reached $2.870 trillion with $93 billion in 24-hour trading volume. Bitcoin dominance stood at 57.5%, while XRP traded at $1.42.
Industry developments: Ripple launched Ripple Prime, an institutional trading business offering Total Return Swaps across US-listed equities, indices, and cryptocurrencies for hedge funds and asset managers. Revolut introduced EURR, a euro-denominated stablecoin operating under the EU's MiCA framework and redeemable at €1.00 per token, with availability in select European countries. Circle announced a principal partnership with Chelsea FC, with USDC branding appearing on the football club's shirts starting the 2026/2027 season.
