Bitcoin opens above $80,000 before falling back to $79,560

Bitcoin opened at $80,261.86 on Friday, August 28, 2026, marking a 1.5% increase over the previous day's opening price. By 7:00 a.m. ET, the cryptocurrency had retreated to $79,560.02. This opening represents the highest level observed for bitcoin since May 15.

Ethereum opened at $2,511.31 on Friday, up 0.2% from Thursday's opening price. The price of ethereum declined to $2,505.68 by 7:00 a.m. ET. Over the past week, ethereum prices have repeatedly exceeded the $2,500 threshold.

The current price movements coincide with a convergence of several market catalysts expected over the next 48 hours. These factors include upcoming economic data releases, a significant options expiry event, and the first major speech from a new Federal Reserve chair. Nvidia's earnings report and a scheduled interest rate decision, now three weeks away, also contribute to the environment influencing bitcoin pricing.

Comparative data shows bitcoin's opening price is 9.9% higher than one week ago and 26% higher than one month ago. However, the price remains 27.8% lower than it was one year ago. The all-time high for bitcoin stands at $126,198.07, recorded on October 6, 2025.

Ethereum's opening price is 7.9% higher than a week ago and 32.8% higher than a month ago, though it sits 44.2% below its level from one year prior. The all-time high for ethereum was $4,953.73 on August 24, 2025.

Separate developments in the housing sector may affect how cryptocurrency is utilized for real estate purchases. In late June, William J. Pulte, director of the Federal Housing Finance Agency, instructed Fannie Mae and Freddie Mac to prepare to count cryptocurrency as an asset for mortgage qualification. Pulte stated that the housing system needs an upgrade to allow cryptocurrency owners to buy homes similarly to other asset holders.

The FHFA supervises Fannie Mae and Freddie Mac, which fund a substantial portion of the mortgage industry. This directive signals a potential shift in how cryptocurrency may be used to qualify for mortgages. Fannie Mae has recently announced it will begin accepting crypto as collateral for conventional mortgages.

Better and Coinbase issued their first Fannie Mae-backed crypto mortgage to a couple in Ann Arbor, Michigan. This transaction represents an early example of cryptocurrency being integrated into traditional mortgage financing structures.