Bitcoin delivered one of its strongest weekly performances since 2020, rising roughly 25% in late August to reach highs around $80,000. The rally drew about $3.8 billion in net spot Bitcoin ETF inflows over three weeks through early September, including a one-day inflow of $731 million, while the total crypto market capitalization approached $2.7 trillion. Stablecoin allocations in crypto portfolios fell 22% during the rally, and USDT dominance showed a potential death cross, a bearish chart signal in which the 50-day moving average falls below the 200-day average. Public Bitcoin miners, however, sold between 28,000 and 32,000 BTC during the first half of 2026, worth approximately $1.78 billion at the time. The sales helped fund a collective commitment of more than $70 billion to artificial intelligence and high-performance computing as miners responded to weak Bitcoin prices and rising operating costs. Hashprice, a measure of mining revenue relative to computing power, rose more than 24% in August as Bitcoin advanced. Some miners have instead begun borrowing against their remaining Bitcoin reserves, suggesting greater confidence in further price gains. The move was supported by US Treasury liquidity initiatives, a broad short squeeze and sustained ETF demand. A consortium of 21 major financial institutions is reportedly planning a stablecoin venture for 2027, potentially bringing additional institutional capital into crypto. Exchanges and stablecoin issuers benefited quickly from higher trading activity, while miners remained slower to capture the rally because of long-term infrastructure commitments and reduced Bitcoin treasuries.