Bitcoin posts its best week since 2023 with record dollar gain

Bitcoin rose 23.58% last week, its best week since 2023. Bitcoin added $14,833, its largest dollar gain in any week in Bitcoin's history. Bitcoin traded near $79,000 at the time of writing after rising 1.8% over 24 hours. The weekly candle broke a descending trendline that stretched from the October 2025 record high. Bitcoin bounced from the $63,000 to $66,000 support zone. Bitcoin cleared resistance from the record high of $126,195. Bitcoin also moved above the $74,000 to $76,000 band, which should now serve as support. Weekly volume increased but remained below June's peak. The BBWP indicator moved from an extreme low to near-maximum volatility and continued to rise. The indicator signaled a large move historically but did not indicate its direction. Bitcoin reclaimed its 200-day moving average near $69,000. That level had capped advances during the downtrend since last October. Daily RSI reached 82, its highest level since 2024. The nearest resistance was the $82,215 swing high. The next resistance zone was $85,000 to $87,000. Bitcoin remained roughly 38% below its record high. Roughly $2.7 billion of shorts were liquidated on August 19, when the US Treasury doubled its long-dated bond buybacks. Glassnode data showed aggregate perpetual funding at its highest level in 2026 during the squeeze. April's advance toward $79,000 had coincided with persistently negative funding. CoinGlass data showed exchange open interest near $57.5 billion. Open interest had been roughly $46.5 billion before the breakout. Open interest remained below the January peak near $65.3 billion and the May peak near $64 billion. The article said leverage had returned without reaching saturation. A move toward $64 billion would indicate a crowded market again. A weekly close above $74,000 would keep the breakout structure intact. A move below that band would shift focus back to the $63,000 to $66,000 range.