Bitcoin rose nearly 25% last week to above $80,000, marking its strongest weekly gain in more than three years. The increase was driven by robust inflows into bitcoin exchange‑traded funds and a U.S. Treasury bond buyback announcement.

CoinDesk Research said that market depth on major spot exchanges remained high during the rally, indicating that genuine demand, rather than isolated large orders, supported the price movement. The 0.5% market depth on August 18 was roughly $9.6 million when bitcoin traded around $64,000, and stayed near $8.7 million on August 25 as the price reached $80,000. Depth levels were comparable to those recorded during previous record highs and did not thin significantly around the $80,000 price point. Analysts noted that the sustained liquidity suggested broad participation in the rally.

Traders returning from summer holidays could provide additional liquidity, supporting continued investment in scarce assets such as bitcoin and gold. Similar patterns were observed in ether and solana order books, with 0.5% depth holding steady on August 25 compared with October.

The market’s liquidity remained robust throughout the surge, suggesting genuine demand, though the durability of the price level will depend on future trading activity and macro‑economic factors.