HTX DeepThink: Bitcoin Supported by August Liquidity Surge, While Upcoming Marco Data May Shift Market Tone

August saw Bitcoin push to new all-time highs as global liquidity surged and regulatory momentum continued to ￰0￱ institutional confidence holding firm and key macro data releases ahead, the crypto market is entering a critical ￰1￱ week, Chloe (@ ChloeTalk1 ) from HTX Research examines the drivers behind Bitcoin’s recent strength and outlines the key catalysts to watch heading into ￰2￱ and Institutional Demand Anchor BTC’s Strength At the end of August, global liquidity remained ￰3￱ to StreetStats, as of August 27, 2025, the total M2 money supply across major economies reached approximately USD 95.116 trillion, a record high, with a quarter-on-quarter increase of 3.87%.

This indicates continued monetary easing in the short term and provides crucial support for Bitcoin’s ￰4￱ the same time, institutional holdings became more ￰5￱ August 27, U. S.-listed spot Bitcoin ETFs held about 1.3 million BTC, accounting for roughly 6% of circulating ￰6￱ mid-August, MicroStrategy purchased another 430 BTC, raising its total holdings to 629,376 ￰7￱ additional acquisitions, concentrated in July and August, show that short-term market volatility has not deterred institutional long-term ￰8￱ the regulatory front, positive developments earlier in the month continued to ￰9￱ August 7, the ￰10￱ signed an executive order requiring regulators to allow 401(k) retirement plans to invest in Bitcoin and other alternative ￰11￱ policy triggered discussions in late August about launching new Bitcoin investment ￰12￱ that 401(k) plans manage about USD 8.9 trillion in assets, even a modest 1% allocation to Bitcoin would imply nearly USD 89 billion in potential inflows.

On-Chain Metrics Signal Caution Amid Resilience On-chain data at the end of August indicated short-term overheating but overall ￰13￱ MVRV-Z score stood at around 2.49, above its historical average and suggesting potential near-term correction risks. However, the aSOPR was around 1.019 and NUPL at 0.558, both reflecting stable realized and unrealized profit ￰14￱ indicates that while current prices sit above average cost, the market as a whole has not entered excessive profit-taking ￰15￱ Data and Policy to Guide Market Expectations Macro data releases are also likely to influence ￰16￱ estimates from the ￰17￱ of Commerce showed second-quarter real GDP grew at an annualized rate of 3.0%, rebounding sharply from -0.5% in the first quarter, driven by a 30.3% collapse in imports, stronger consumer spending, and increased government ￰18￱ expect the revised figure due on August 28 to be lowered to around 3.0% or even 2.4%.

A downward revision would reinforce expectations of monetary ￰19￱ August 29, the July Personal Consumption Expenditures (PCE) report—considered the Fed’s preferred inflation gauge and the last major release before the September FOMC meeting—will be ￰20￱ expect core PCE (excluding food and energy) to edge up from 2.8% to 2.9% year-on-year, with a 0.3% monthly increase, while headline PCE is expected to remain around 2.6% year-on-year, with a 0.2% monthly ￰21￱ the data overshoots, markets may reassess the timing of Fed rate cuts; if it comes in weaker, it would provide further support for Bitcoin. *The above content is not an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment ￰22￱ post HTX DeepThink: Bitcoin Supported by August Liquidity Surge, While Upcoming Marco Data May Shift Market Tone first appeared on HTX Square .