Bitcoin Tests $80K & Solana Reclaims $100 as Sentiment Flips to ‘Extreme Greed’

SolanaFloor·2026-08-24 18:23:00 UTC

The crypto market keeps its momentum into the new week.

The crypto markets have showed no signs of slowing down this new week. Major assets have retained their gains after Bitcoin delivered one of its strongest rallies in years. $BTC climbed from roughly $63,000 to nearly $80,000 over 7 days, gaining about 25%, marking Bitcoin's strongest weekly performance since March 2023.

Several catalysts combined to drive the move. President Donald Trump backed the CLARITY Act ahead of its September vote and held a White House meeting focused on crypto, while the U.S. Treasury expanded its long-term bond buyback operations to $4 billion. Those developments improved expectations around liquidity and regulatory clarity. Leverage amplified the rally. According to Coinglass data, the week ended August 22 saw a total of almost $7 billion worth of liquidations with 5.2 billion of those coming from short positions. That forced traders who bet against crypto assets to buy back their positions, adding another source of demand.

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Spot ETF demand returned heavily during the rally. U.S. spot Bitcoin ETFs attracted roughly $1.92 billion last week, their strongest weekly inflow of 2026.

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Notably, Strategy took a more defensive stance. The Bitcoin treasury company added $1.59 billion to its USD Cash reserve, taking total reserves to $5.1 billion, while making no Bitcoin purchases last week. Strategy still holds 840,447 $BTC, sitting on an unrealized profit of about $3.3 billion at current prices.

Solana Pushes Back Above $100

Solana also delivered a major rebound, climbing from around $75 to above $100 over the weekend. $SOL reached roughly $102.50, its highest level since February 2026, before pulling back toward its current price of $96. The token gained about 27% over the past 7 days.

U.S. spot Solana ETFs added about $28 million in net inflows last week, marking their strongest weekly inflow in 14 weeks. August inflows have reached $38.74 million with 6 trading sessions remaining.

Altcoins Catch the Rotation

Capital also rotated further down the risk curve. Hyperliquid's $HYPE reached an all-time high of $83.27 on August 23, while Zcash gained more than 60% over 7 days as markets reacted to Grayscale's spot Zcash ETF filing.

Within the Solana ecosystem, $PUMP and $TRUMP led the rebound. Both tokens gained more than 100% during the week before settling at roughly 70% weekly gains.

Can Jackson Hole Become the Next Catalyst?

Attention now shifts to the Federal Reserve's Jackson Hole Economic Policy Symposium, which runs August 27 to 29 under the theme "Financial Innovation: Implications for Payments and Policy." Fed Chair Kevin Warsh will make his debut at the event, putting his comments on inflation, rates and financial conditions at the center of the week's macro outlook.

Market sentiment has moved sharply with prices. CoinMarketCap's Fear & Greed Index now stands at 81, up from greed yesterday into extreme greed today. At this time last week, it was ‘Neutral’ at 40.

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