Bitcoin Tops $80,500, Triggers Fresh Short Squeeze as ETF Streak Hits Eight Days

Bitcoin pushed above $80,000 today, gaining more than 1.7% over the past day, as spot Bitcoin ETFs extended their buying streak to eight straight trading sessions.

The funds pulled in roughly $232 million that day alone, bringing total inflows since the run began to about $2.8 billion, according to data from SoSoValue. As the price briefly touched $80,500, roughly $110 million in short positions were liquidated within just two hours, adding fuel to the rally through a fresh short squeeze.

August Set to Become the Strongest Month of the Year

Total Bitcoin ETF inflows for August have now climbed above $3 billion, already the best month of 2026 and roughly double what April brought in. Net assets closed Tuesday just above $99 billion, up sharply from about $77 billion in mid-August, though most of that increase reflects rising Bitcoin prices rather than new money entering the funds. BlackRock’s IBIT continues to dominate the inflows, absorbing well over half of recent daily totals.

Year-to-Date Picture Still Shows a Deficit

Despite the recent momentum, Bitcoin ETFs remain net negative for 2026 by around $2.5 billion, meaning this month’s gains have only recovered a little more than half of what flowed out between May and July. With three trading days left in August, another $160 million in inflows would make it the strongest month for the funds since October 2025.