Bitcoin is trading around $78,000, down 0.4% since midnight UTC and about 0.7% over the past seven days, as crypto markets consolidate after a short squeeze lifted prices from below $63,000 to a high near $81,400 last week. The calm has not erased bitcoin’s relative strength: Nasdaq 100 futures are down 0.5% since midnight, and bitcoin is again outperforming equities. The move extends an August 2026 advance in which U.S. Treasury bond buybacks and dovish commentary from Treasury Secretary Scott Bessent helped push total crypto market capitalization past $2.7 trillion, with bitcoin up nearly 25% on the month and large-cap altcoins including Zcash, Hyperliquid, Monero, and Solana posting still larger gains. Institutional demand remains a central pillar. Spot bitcoin ETFs’ nine-day net inflow streak, which attracted roughly $3.04 billion and was the longest since April, ended Friday with a $202 million outflow before inflows resumed Monday at $217 million, according to SoSoValue data. Altcoins are mixed on the day, and the Altcoin Season index has dropped to 26 from 34 on Friday, its lowest reading in more than 90 days.