Bitcoin, quoted at $78,535.13, jumped nearly 25% last week to above $80,000, its strongest weekly performance in more than three years. Strong ETF inflows and the U.S. Treasury’s bond buyback announcement were among the catalysts, while CoinDesk Research data indicates that the rally was also supported by robust order-book liquidity. Market depth, which measures the value of buy and sell orders near the current price, remained high across major spot exchanges. Average 0.5% depth was about $9.6 million in BTC on Aug. 18, when the rally began near $64,000, compared with a $9 million record on Jan. 1 and more than $8 million in October, when Bitcoin traded above $120,000. Depth eased to $8.7 million on Aug. 25 as Bitcoin reached $80,000, but remained within normal variation. CoinDesk Research said the roughly 24% move appeared consistent with genuine demand being absorbed rather than a sudden low-liquidity air pocket. The pattern was notable because August is typically the thinnest month for liquidity in crypto and traditional finance. Ether and solana also recorded higher 0.5% depth on Aug. 25 than in October.