Track market-moving stories before they get noisy

Wall Street Analysts Bullish On Bitcoin, Reveal 3 Major Catalysts For Further BTC Price Rally

Bitcoin traded above $80,700 on Tuesday, up close to 5% over the past 24 hours and more than 25% over the past week, after an intraday move that briefly pushed the price past $81,000. The rally has been building since the middle of last week and now has the asset testing resistance at the upper edge of its May trading range.

The immediate trigger traces back to August 19, when the U.S. Treasury said it would at least double the size of its liquidity support buyback operations for longer-dated government bonds, from a $2 billion cap per operation to at least $4 billion, covering the 10-to-20-year and 20-to-30-year maturity sectors. The change takes effect September 9 and runs through the current refunding quarter, ending November 4. Treasury framed the move as a response to strong dealer demand in those operations rather than a shift in debt policy, but the announcement pulled bond yields lower within hours and revived appetite for risk assets, bitcoin included. A short squeeze followed as bearish positions were forced to cover into the rally, with more than $4 billion in bearish crypto positions liquidated over the following days.

Spot Bitcoin ETFs have absorbed the momentum. U.S. funds pulled in $1.92 billion in net inflows for the week ending August 21, their strongest week since October 2025, with BlackRock's IBIT accounting for $1.33 billion of that across five consecutive sessions. Additional inflows on August 24 brought the six-session total north of $2 billion. August has now delivered $2.38 billion in net inflows, the strongest month of 2026 so far, though the category remains $2.91 billion in net outflow for the year after heavy withdrawals in May and June. Spot ether ETFs moved in step, taking in roughly $700 million over the same week, their best showing since October 2025 as well.

Bitcoin has now recovered about 38% from a July low near $57,700 and has erased its losses since May. It remains roughly 36% below its all-time high of $126,080. The next test is whether buyers can close above $82,000, the top of the range that capped the market back in May; a sustained move above that level would be the clearer signal that this is more than a short-covering bounce.

India plans to issue its first tokenized bond in September, with a value potentially exceeding $57 million.

According to Reuters, India plans to issue its first tokenized bond in September, offered by state-owned power finance firm REC, with an expected size of less than 5 billion rupees (around $57 million). India’s market regulator and central bank are jointly advancing the related pilot, with blockchain technology to be used for the bond’s issuance and settlement. Sources said the product is set to launch during Mumbai’s annual fintech conference in September, initially open only to a small group of investors. Investors will participate via wholesale central bank digital currency (CBDC) wallets and electronic securities wallets. India’s depository institutions are developing an e-wallet named DEMT 2.0, which will use distributed ledgers to track bond holdings. The bond has an initial three-month term; subsequent trading will be restricted to participants holding both CBDC-compatible and securities wallets. A secondary market for the tokenized bond is projected to form by December, and it will not be traded on traditional electronic trading platforms.

4 minutes ago

FOLD drops over 26% in 24 hours, with its market cap standing at $97.34 million as of press time.

According to market data, FOLD is currently trading at approximately $0.0811, with a market capitalization of around $97.34 million, down 26.21% over the past 24 hours.

4 minutes ago

Aster Trader Turns $90K Into $966K With 50x $BTC Long, Sitting on $810K Unrealized Profit

This trader turned $90K into $966K on @Aster_DEX — over a 10x return! He deposited $90K into Aster and opened a 50x long on 49 $BTC ($3.95M), now sitting on an unrealized profit of $810K(+1,025%).

4 minutes ago

Arthur Hayes: Maelstrom is fully invested in risk assets, with Bitcoin, Ethereum, and others as core bets.

Arthur Hayes published a post noting that his Maelstrom Fund is currently at "maximum risk exposure", with core bets on Bitcoin, Ether, Ethena, and Ether.fi. Hayes argues that whether U.S. Treasury Secretary Bessent increases U.S. dollar liquidity rapidly or gradually, Bitcoin will keep rising, though market volatility will also spike. As such, he advises against using leverage unless one is a full-time trader. Hayes also pointed out that Bessent’s recent move to expand long-term U.S. Treasury repurchase operations could further boost U.S. dollar liquidity, lifting Bitcoin and other risk assets. He projects that if U.S. Treasury yields approach 5% again, the U.S. Treasury may further expand repurchase volumes or take other steps to increase U.S. dollar liquidity.

4 minutes ago

Binance Alpha will roll out Teller first on August 26, with eligible users able to claim the airdrop.

According to official announcements, Binance Alpha will be the first to list Teller (TELLER) on August 26. Eligible users can visit the Binance Alpha event page to claim the airdrop using Binance Alpha points once trading opens, with specific airdrop details to be announced later.

4 minutes ago

Bitcoin mining company Metaplanet deposited 1,000 Bitcoin into Coinbase Prime one hour ago.

According to Lookonchain’s monitoring, Bitcoin mining firm Metaplanet deposited 1,000 BTC into Coinbase Prime an hour ago, valued at roughly $79.77 million. Earlier, the company purchased 43,000 BTC at an average price of $96,191, totaling approximately $3.48 billion.

4 minutes ago

TECHINASIA: Bitcoin tops $80,000 for first time since May

Bitcoin closed in on the $80,000 mark on Tuesday, as renewed inflows into spot bitcoin ETFs and improving risk appetite extended the cryptocurrency's recent rally.

The flagship cryptocurrency jumped 3.1% to $79,739.

The latest move extends a sharp rally that began last week, when bitcoin surged more than 20% in three days, its biggest three-day gain since 2023. The rally was fueled partly by a short squeeze, with more than $4 billion in bearish crypto positions liquidated as prices rose.

The gains followed the U.S. Treasury's announcement that it would double its purchases of longer-dated government bonds. The move briefly pushed yields lower and revived demand for risk assets, while growing concern over inflation and government debt also boosted interest in assets perceived as scarce.

Institutional demand has also returned. U.S. spot bitcoin exchange-traded funds attracted $1.92 billion in net inflows last week, their largest weekly haul since October, when bitcoin reached its previous cycle peak.

Still, questions remain over whether the breakout can last. Bitcoin has been in a prolonged slump since October, and BTIG noted that a similar surge in January 2023 initially faded before the cryptocurrency found support around its 200-day moving average.

In a note on Monday, Fundstrat said the buying that followed last week's short squeeze suggests bitcoin's rally may be "more durable than a tactical bounce." It pointed to strong inflows into bitcoin and ether ETFs, increased trading, and the creation of more stablecoins which investors often use to buy cryptocurrencies. 

Ether last traded 2% higher at $2,494.

Activity in the options market also suggests investors are becoming more confident that the rally can last, the research firm highlighted. Unlike earlier rebounds, when traders mainly bet on short-term price gains, investors are now paying for exposure to bitcoin gains further into the future.

Fundstrat also noted that bitcoin rallied without fresh purchases from Strategy, the world's largest corporate holder of the cryptocurrency. Strategy has not bought bitcoin for two weeks. If it starts buying again while ETF demand remains strong, that could provide another boost to prices.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Bitcoin has pushed past the $80,000 mark, trading at $80,677.39, up 2.7% over the past 24 hours and 24% over the past week, moving through a resistance zone traders had been watching closely.

Where Bitcoin Stands Right Now

Bitcoin has now cleared a resistance zone that sat roughly between $76,638 and $79,845. One expert who tracks these patterns using a chart-based forecasting method said this zone had been the target for weeks, and the price hit it almost exactly as expected before pushing higher.

Why This Price Zone Matters

According to this trader’s analysis, clearing this resistance zone and holding above it could open the door to a bigger rally, potentially toward the $83,000 to $95,000 range over time. If the price instead loses momentum and drops back down, it could slide toward a support zone between $70,500 and $75,138. Both outcomes were still on the table before the breakout, though clearing resistance strengthens the case for the more bullish path.

Signs of a Slowdown

Even with Bitcoin’s price climbing, some signals hinted the upward push may have been losing steam heading into the breakout. The expert pointed to a pattern where price kept making small new highs while the underlying momentum indicator weakened each time, something chart analysts view as an early warning sign that a rally could be running low on energy, even without a reversal yet.

What Would Confirm Which Way This Goes

A drop back below roughly $76,680 would suggest the rally is fading and that Bitcoin could head back toward the support zone near $70,500 to $75,138. A clean, sustained move higher would suggest buyers remain firmly in control, with $83,000 and beyond staying in play.

Story Ends Here

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

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India plans to issue its first tokenized bond in September, with a value potentially exceeding $57 million.

According to Reuters, India plans to issue its first tokenized bond in September, offered by state-owned power finance firm REC, with an expected size of less than 5 billion rupees (around $57 million). India’s market regulator and central bank are jointly advancing the related pilot, with blockchain technology to be used for the bond’s issuance and settlement. Sources said the product is set to launch during Mumbai’s annual fintech conference in September, initially open only to a small group of investors. Investors will participate via wholesale central bank digital currency (CBDC) wallets and electronic securities wallets. India’s depository institutions are developing an e-wallet named DEMT 2.0, which will use distributed ledgers to track bond holdings. The bond has an initial three-month term; subsequent trading will be restricted to participants holding both CBDC-compatible and securities wallets. A secondary market for the tokenized bond is projected to form by December, and it will not be traded on traditional electronic trading platforms.

3 minutes ago

FOLD drops over 26% in 24 hours, with its market cap standing at $97.34 million as of press time.

According to market data, FOLD is currently trading at approximately $0.0811, with a market capitalization of around $97.34 million, down 26.21% over the past 24 hours.

3 minutes ago

Aster Trader Turns $90K Into $966K With 50x $BTC Long, Sitting on $810K Unrealized Profit

This trader turned $90K into $966K on @Aster_DEX — over a 10x return! He deposited $90K into Aster and opened a 50x long on 49 $BTC ($3.95M), now sitting on an unrealized profit of $810K(+1,025%).

3 minutes ago

Arthur Hayes: Maelstrom is fully invested in risk assets, with Bitcoin, Ethereum, and others as core bets.

Arthur Hayes published a post noting that his Maelstrom Fund is currently at "maximum risk exposure", with core bets on Bitcoin, Ether, Ethena, and Ether.fi. Hayes argues that whether U.S. Treasury Secretary Bessent increases U.S. dollar liquidity rapidly or gradually, Bitcoin will keep rising, though market volatility will also spike. As such, he advises against using leverage unless one is a full-time trader. Hayes also pointed out that Bessent’s recent move to expand long-term U.S. Treasury repurchase operations could further boost U.S. dollar liquidity, lifting Bitcoin and other risk assets. He projects that if U.S. Treasury yields approach 5% again, the U.S. Treasury may further expand repurchase volumes or take other steps to increase U.S. dollar liquidity.

3 minutes ago

Binance Alpha will roll out Teller first on August 26, with eligible users able to claim the airdrop.

According to official announcements, Binance Alpha will be the first to list Teller (TELLER) on August 26. Eligible users can visit the Binance Alpha event page to claim the airdrop using Binance Alpha points once trading opens, with specific airdrop details to be announced later.

3 minutes ago

Longling Capital transferred 65 million WLFI tokens to Binance, valued at approximately $3.79 million.

According to monitoring by @EmberCN, 10 minutes ago, Longling Capital transferred 65 million WLFI tokens to Binance, valued at approximately $3.79 million based on the price at that time.

3 minutes ago

The Bitwise head of derivatives argued on Bits + Bips that the same bond-market stress unsettling long-dated Treasurys is what is pushing Bitcoin higher, even as a co-host called the government’s intervention unnecessary.

Posted August 24, 2026 at 11:34 pm EST.

Bitcoin’s rebound toward $80,000 has as much to do with the U.S. bond market as with crypto, Gordon Grant, head of derivatives at Bitwise, said on Bits + Bips on Monday. He argued that the Treasury’s push to expand long-end debt buybacks worked mainly as a signal, and that the same volatility unsettling long-dated Treasurys is what is pushing Bitcoin higher.

The backdrop is a strained bond market. The 30-year Treasury yield had climbed to a 19-year high above 5.3% before the Treasury said on Aug. 19 it would double its long-end buybacks to at least $4 billion per operation beginning Sept. 9. Bitcoin, which had fallen about 37% from its October record near $124,820, climbed back to roughly $79,000, while spot Bitcoin ETFs took in about $1.9 billion over the week.

Grant said on Bits + Bips that Bitcoin was “the last of the large cap liquid assets, ex crypto, to pick up on the volatility bug” spreading through macro markets. The buyback was small against a roughly $32 trillion Treasury market, he noted, but “signals can be as effective as sizes,” he said on the show.

Why Volatility Cuts Both Ways Grant described a long end where “excess variance” had triggered a “buyer strike,” leaving the market “seasick.” That instability, he argued, does the opposite for crypto. “High vol in Bitcoin gets people excited about it because it starts to inflate the right tail of distribution. In rates, it kind of works the other way,” he said on the show. The same forces denting Treasury market stability, in his telling, are what is driving fresh momentum into Bitcoin.

A Dissent on the Panel Not everyone agreed the intervention was needed. Ram Ahluwalia, CEO of Lumida, said the Treasury may have made things worse. “I don’t think Bessent even needed to intervene. Markets were settling of their own accord. His intervention might have actually spooked investors,” he said on the podcast. The relief proved brief, with long-dated yields rebounding within a day. Treasury Secretary Scott Bessent, tapped to run Treasury partly for his pro-crypto stance, has since said the operations could exceed $4 billion each, leaving open how far the government will go to defend the long end.

Related Listen: Why Bitcoin May Not Run Until Saylor ‘Gets Blown Up’ : Bits + Bips

AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.

Bitcoin traded above $80,000 on Aug. 25 as BitMEX co-founder Arthur Hayes argued that expanded U.S. Treasury bond buybacks marked the beginning of a new bull market.

Summary

Treasury doubled long-end buyback caps to at least $4 billion per operation beginning September 9, 2026. Bitcoin rallied above $80,000 after announcement, though causation between both events remains unproven by officials. Hayes called Bitcoin bull market underway and said Maelstrom reached maximum risk portfolio exposure levels. Treasury projects $739 billion in third-quarter borrowing and a $950 billion September-end cash balance under assumptions. New York Fed plans $10 billion reserve management purchases, separately targeting ample banking reserves this month. Hayes presented the argument in his Aug. 25 essay, Same Same But Different. He linked Bitcoin’s recent rally to Treasury Secretary Scott Bessent’s decision to increase purchases of longer-dated government securities.

The Treasury confirmed on Aug. 19 that it would at least double the maximum size of certain long-end liquidity-support buybacks. The limit will rise from $2 billion to at least $4 billion per operation between Sept. 9 and Nov. 4.

Hayes described the move as a mechanism for adding dollar liquidity and reducing pressure on long-term yields. However, the Treasury says the program supports market liquidity rather than providing monetary stimulus.

Arthur Hayes Says Bitcoin Bull Market Is Underway as Treasury Buybacks Boost Liquidity

BitMEX co-founder and Maelstrom CIO Arthur Hayes argued in his latest essay, Same Same But Different, that U.S. Treasury Secretary Scott Bessent’s expansion of longer-dated Treasury buybacks… pic.twitter.com/qcbIsNXaql

— Wu Blockchain (@WuBlockchain) August 25, 2026 Bitcoin rally follows Treasury buyback announcement Bitcoin rose from below $65,000 before the announcement to above $80,000 on Aug. 25. The cryptocurrency reached an intraday high above $81,000, extending its strongest weekly advance in months.

The timing supports Hayes’s argument that expectations of easier financial conditions benefited Bitcoin. It does not establish that the buyback announcement caused the entire rally. ETF inflows, short liquidations and a weaker dollar also contributed to the move.

U.S. spot Bitcoin ETFs recorded about $517 million in net inflows on Aug. 19, their strongest daily intake since early May. Derivatives liquidations then accelerated the breakout, as Bitcoin surged above $71,000 following the Treasury announcement.

The 10-year Treasury yield initially declined toward 4.65%, while the 30-year yield moved closer to 5.20%. Yields subsequently recovered part of that decline, suggesting the announced purchase sizes had not fundamentally changed the market’s concerns over borrowing and debt supply.

No purchases under the enlarged limits had occurred when Hayes published his essay. The new schedule begins in September.

Hayes calls buybacks a source of dollar liquidity Hayes argued that purchasing older, longer-dated securities could raise their prices and suppress yields. In his view, lower yields make risk assets comparatively more attractive and encourage capital to move toward Bitcoin.

He compared Bessent’s approach with former Treasury Secretary Janet Yellen’s increased reliance on Treasury bills in late 2023. Hayes believes that strategy helped move money-market balances out of the Federal Reserve’s overnight reverse-repurchase facility and into marketable securities.

“The next bull market… just began,” Hayes claimed, although Treasury buybacks are debt-management operations and not equivalent to Federal Reserve quantitative easing.

Treasury describes its buybacks as a way to improve liquidity in older securities and manage its cash position. Its Aug. 5 refunding statement authorized up to $38 billion of liquidity-support purchases during the quarter, alongside up to $25 billion of short-maturity cash-management buybacks, according to the department’s statement.

The New York Fed is separately conducting about $10 billion of reserve-management purchases during its current monthly operating period. The central bank says those purchases maintain ample reserves in the banking system. They are not part of Treasury’s buyback program.

Hayes has previously argued that an expanded Federal Reserve facility for foreign monetary authorities could also support Bitcoin by temporarily increasing dollar liquidity.

A $1 trillion TGA deployment remains unconfirmed Hayes identified the Treasury General Account as another possible source of buying power. The account held approximately $940 billion, according to reports citing Treasury officials.

Bessent said the Treasury could use some of that cash for bond buybacks without changing its scheduled long-term debt auctions. However, the government has not announced a plan to deploy the entire balance or committed $1 trillion to purchases.

Hayes called a large TGA drawdown the “middle road,” but the scale and timing remain speculative.

Treasury’s latest borrowing estimate assumes a $950 billion cash balance at the end of September and $850 billion at year-end. It expects to borrow $739 billion in privately held net marketable debt during the July-to-September quarter and another $628 billion during the following quarter, according to an official release.

Using the TGA extensively could temporarily place more cash in the private banking system. Its longer-term effect would depend on how quickly Treasury rebuilt the account through new debt issuance.

Hayes expects higher Bitcoin volatility Hayes said Maelstrom had moved to “maximum risk,” with major exposure to Bitcoin, Ether, Ethena and Ether.fi. He did not disclose position sizes or provide independently verifiable portfolio records.

He also warned that a continued advance would not prevent steep corrections. His view remains a market forecast rather than a guaranteed outcome, and the announced Treasury operations remain small relative to the broader Treasury market.

The next confirmed policy milestone is Sept. 9, when the larger long-end buyback limits take effect. Treasury will reconsider future purchase sizes during its next quarterly refunding on Nov. 4.

Investors can then compare actual buyback results, Treasury yields, the TGA balance and Bitcoin’s performance. Until those data arrive, Hayes’s bull-market call rests on an expected liquidity transmission mechanism rather than a confirmed policy commitment to monetary easing.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Bitcoin (CRYPTO: BTC) could extend its explosive rally toward $90,000 as traders see a shift from low-volatility consolidation to a momentum-driven market.

Why Bitcoin’s Breakout Could Have LegsSpeaking on the Aug. 22 episode of Technical Roundup, prominent trader DonAlt said Bitcoin’s breakout was preceded by repeated tests of weekly resistance after bouncing from monthly support.

More importantly, bearish catalysts repeatedly failed to push Bitcoin meaningfully lower, which he viewed as evidence of seller exhaustion.

Analyst Cred added that while the initial breakout was heavily influenced by short liquidations, Bitcoin continued climbing even as liquidations slowed.

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He interpreted that as evidence that fresh buying demand had replaced forced short covering as the rally’s primary driver.

That distinction matters because rallies fueled exclusively by liquidations can quickly reverse once shorts are cleared. Continued spot demand, on the other hand, could support a more durable move.

DonAlt sees Bitcoin holding a bullish structure above $72,000 to $73,000, while a drop below $70,000 could weaken momentum.

While $65,000 to $66,000 would threaten the breakout, he targets $89,000 to $94,000 on the upside before an orderly correction.

Why Ethereum Could Lead BTC Higher?DonAlt is also increasingly bullish on Ethereum (CRYPTO: ETH), which he believes is displaying stronger relative price action than Bitcoin.

Ethereum has bounced from its long-term range support around $1,600 to $1,700 and pushed through major resistance around $1,950 to $2,250.

A weekly close above roughly $2,300 would strengthen the breakout, according to DonAlt.

"ETH is realistically leading," DonAlt said, noting that Ethereum has already broken resistance that Bitcoin is still confronting.

He added that historically, Ethereum breaking resistance ahead of Bitcoin has sometimes increased the probability of Bitcoin subsequently following through.

DonAlt’s primary ETH target is therefore around $4,000, where he plans to reassess whether it can mount a sustainable breakout toward new highs.

Image: Shutterstock

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Quantum computing is still mostly a theoretical threat to crypto wallets. But the cryptography community isn’t waiting around to find out exactly when “theoretical” becomes “Tuesday.” NIST published its first finalized post-quantum cryptography standards in August 2024, and Ledger CTO Charles Guillemet has been walking through what those standards actually mean for Bitcoin, Ethereum, and the hardware security world his company operates in.

Two standards, two philosophies NIST’s August 2024 announcement formalized two digital signature schemes that matter most here. The first is ML-DSA, published as FIPS 204 and based on the CRYSTALS-Dilithium algorithm. It’s a lattice-based approach, meaning its security relies on the computational hardness of certain geometric problems in high-dimensional space.

The second is SLH-DSA, published as FIPS 205 and built on Sphincs+. This one takes a more conservative route: its security is grounded entirely in hash functions, the same cryptographic primitives that have been battle-tested for decades across computing. No novel mathematical assumptions required. The tradeoff is that Sphincs+ produces larger signatures, which matters a lot when you’re paying per byte on a blockchain.

Guillemet noted that ML-DSA has become the go-to choice in sectors outside of blockchain. Bitcoin and Ethereum, however, are leaning toward SLH-DSA. Sphincs+ doesn’t ask developers to trust any new mathematical hardness assumption. Its security chain runs back to hash functions like SHA-256 and SHAKE, tools that the Bitcoin and Ethereum communities have trusted since day one.

Why the divergence matters Bitcoin currently uses the secp256k1 elliptic curve for signatures. Ethereum uses a similar elliptic curve scheme. Both are efficient and well-understood, but a sufficiently powerful quantum computer running Shor’s algorithm could theoretically break elliptic curve cryptography by recovering private keys from public keys.

Ethereum researchers in mid-2026 have been exploring optimized Sphincs+ variants specifically designed to make verification more tractable within the Ethereum Virtual Machine. The challenge is that Sphincs+ signatures are substantially larger than what current blockchain transactions carry, which affects storage costs, bandwidth, and the economic math of running a node.

Ledger’s implementation timeline For Ledger, this isn’t a distant horizon problem. The company’s security team is actively working on integrating post-quantum cryptography into its hardware wallet firmware, targeting secure software elements specifically. Guillemet has indicated that Ledger plans to ship firmware support for both ML-KEM, the post-quantum key encapsulation mechanism, and ML-DSA by the end of June 2026.

ML-KEM handles key exchange, while ML-DSA handles signatures. Together they represent a reasonably complete post-quantum security posture for a hardware wallet, covering both the channel through which a device communicates and the authentication layer that proves a transaction came from the right person.

The transition also raises practical questions for existing wallet holders. Migration to post-quantum schemes will likely require users to move funds to new addresses generated under new cryptographic standards, similar to how early Bitcoin users moved from uncompressed to compressed public keys.

Ethereum’s ongoing research into EVM-compatible Sphincs+ verification is the practical test of whether the efficiency gap can be closed enough to make hash-based signatures viable at scale.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

This site is protected by reCAPTCHA.

PANews reported on August 25 that, according to SoSoValue data, affected by combined factors including Bessent possibly deploying nearly $1 trillion in the TGA to buy bonds and the United States expanding economic sanctions against Iran, crypto market sectors resumed their upward trend. The Layer 2 sector stood out, rising 3.02% in 24 hours, with Polygon (POL) up 8.50%, Stacks (STX) up 4.76%, and Mantle (MNT) up 2.82%. Meanwhile, Bitcoin (BTC) rose 3.22%, touching $80,000 during the session; Ethereum (ETH) rose 2.38%, breaking back above $2,500 during the session.

In other sectors, the Layer 1 sector rose 2.21% in 24 hours, with Solana (SOL) up 6.14%; the CeFi sector rose 2.08%, with OKB (OKB) up 6.49%; the PayFi sector rose 1.97%, with Telcoin (TEL) up 7.81%; the Meme sector rose 0.44%, with dogwifhat (WIF) up 5.80%.

In addition, the DeFi sector fell 0.27%, but Ondo Finance (ONDO) was relatively resilient, rising 5.80%.

Binance Alpha will roll out Teller first on August 26, with eligible users able to claim the airdrop.

According to official announcements, Binance Alpha will be the first to list Teller (TELLER) on August 26. Eligible users can visit the Binance Alpha event page to claim the airdrop using Binance Alpha points once trading opens, with specific airdrop details to be announced later.

35 minutes ago

Bitcoin mining company Metaplanet deposited 1,000 Bitcoin into Coinbase Prime one hour ago.

According to Lookonchain’s monitoring, Bitcoin mining firm Metaplanet deposited 1,000 BTC into Coinbase Prime an hour ago, valued at roughly $79.77 million. Earlier, the company purchased 43,000 BTC at an average price of $96,191, totaling approximately $3.48 billion.

35 minutes ago

Longling Capital transferred 65 million WLFI tokens to Binance, valued at approximately $3.79 million.

According to monitoring by @EmberCN, 10 minutes ago, Longling Capital transferred 65 million WLFI tokens to Binance, valued at approximately $3.79 million based on the price at that time.

35 minutes ago

Two whales plan to short $42.2 million worth of HYPE.

According to monitoring by TradingBeats (formerly Hyperinsight), two HYPE whales placed 509 non-"position-reduction-only" sell orders earlier today at higher price levels. They still plan to sell roughly 449,500 HYPE tokens, with a nominal value of around $42.226 million, at a weighted average order price of $93.94. The two sets of orders were created less than two minutes apart, but no data yet links the two addresses. The "US stock market winner" whale tracked yesterday (starting with 0x4e23) held 152,800 HYPE long positions as of yesterday and has now fully closed them for profit. Earlier today, it re-placed 24 sell orders within one minute, planning to short 327,300 HYPE tokens in the $90.385–$104.68 range, with a nominal value of about $31.5 million and a weighted average price of $96.25. Another whale starting with 0xf02d has already shorted 391,100 HYPE tokens, with a position value of ~$31.29 million, an average entry price of $75.92, and an unrealized loss of around $1.598 million. This address also placed 485 additional short orders in the $80.409–$99 range today, with a remaining planned short of 122,200 HYPE tokens (nominal value ~$10.726 million). The lowest tier of these orders is only ~0.5% away from the current price, and some have already started executing.

35 minutes ago

Maji opens $113 million worth of BTC and ETH long positions, account balance surges nearly 200 times.

According to Lookonchain’s monitoring, "Maji" (@machibigbrother) was once liquidated to the point where his account held less than $60,000. His account balance has since surged nearly 200 times, and he has opened long positions worth $113 million in Bitcoin (BTC) and Ethereum (ETH), including 23,350 ETH valued at $59 million and 668 BTC worth $54 million.

35 minutes ago

If BTC rises an additional 2%, a certain whale that shorted $45.22 million yesterday will be forced to liquidate.

According to monitoring by TradingBeats (formerly Hyperinsight), BTC is currently trading at around $80,840, up roughly 4.3% over the past 24 hours. The whale address starting with 0x6046, which opened a large short position yesterday, is now approximately 2.5% away from its liquidation line, making it the largest address on Hyperliquid closest to liquidation at present. The whale shorted 559.4 BTC in batches last night, with an average entry price of $79,318.4. The current value of the short position stands at around $45.218 million, with an unrealized loss of about $851,000, translating to a -38.4% return. It is using 20x full leverage, with a current liquidation price of roughly $82,896.5. A further ~$2,057 (or 2.5%) rise in BTC from its current price would trigger liquidation. As of press time, the whale has not set public stop-loss, take-profit, or position-reduction orders, and still holds the full 559.4 BTC short position. This address is the first active account on Hyperliquid. Yesterday evening, it first received approximately 992,000 USDC from an address starting with 0x6b9e, and began shorting BTC roughly one and a half minutes after the deposit arrived. It later added around 1.6 million USDC as margin in two separate top-ups, accumulating a total of about $2.592 million in capital.

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Leading cryptocurrencies and adjacent equities climbed on Monday as sustained demand continued to drive the ongoing rally.

Crypto Market AscendsBitcoin came close to breaking above $80,000 as strong buying continued to fuel its rally. Trading volume jumped 78% over the last 24 hours.

Ethereum rose to its highest level in almost seven months, trading between $2,425 and $2,530. Dogecoin was the outlier, falling 0.57% in the last 24 hours.

Cryptocurrency-related stocks also lifted, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing up 2.83% and 5.74%, respectively. 

Over $420 million was liquidated from the cryptocurrency market in the last 24 hours, nearly evenly split between long and short positions, according to Coinglass data.

Bitcoin’s open interest fell 1.21% over the last 24 hours. Smart money sentiment, which refers to the collective outlook  and capital allocation of institutional investors, turned "extremely bullish."

Top Gainers (24 Hours) 

The global cryptocurrency market capitalization stood at $2.68 trillion, following an increase of 2.36% over the last 24 hours.

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S&P 500 Closes in the RedMajor indexes started the new trading week lower.  The S&P 500 slid 0.28% to close at 7,652.86, while the tech-focused Nasdaq Composite declined 0.76% to end at 25,980.19.

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The Dow Jones Industrial Average was the silver lining, rallying 140.15 points, or 0.26%, to settle at 53,417.16.

Nvidia Corp. (NASDAQ: NVDA) second-quarter earnings report could be the key market catalyst this week.

Investors will later turn their attention to Fed Chair Kevin Warsh’s Friday speech at Jackson Hole, watching for signals about the central bank’s long-term monetary policy plans.

Another Bitcoin Bull Signal?Ali Martinez, a widely followed cryptocurrency analyst and trader, noted Bitcoin reclaiming its 1,130-day simple moving average as support after 80 days.

“Over the past four market cycles, Bitcoin began a new bull market shortly after reclaiming this moving average,” Martinez stated. “If history repeats, the market bottom may already be in.”

Michaël van de Poppe, another popular cryptocurrency researcher, said Bitcoin’s liquidity sweep of recent lows around $76,400, or, in a worst-case scenario, $74,000, could pressure altcoins lower.

Van de Poppe warned that even in a mild correction, altcoins can drop 10%-20% rapidly due to their higher volatility relative to Bitcoin.

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© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Tether’s Bitcoin mining venture in Uruguay has come to an abrupt end following a protracted disagreement with the country’s state-owned electricity provider over power allocations.

The collapse of the project, estimated by one individual familiar with the details to have involved roughly $120 million in spending, highlights the challenges facing large-scale cryptocurrency mining operations dependent on reliable and expandable energy supplies.

In May 2023, Tether, the issuer of the widely used USDT stablecoin, publicly announced plans to establish Bitcoin mining facilities in Uruguay.

Company executives described the South American nation as a suitable location, citing its substantial renewable energy resources and stable electrical grid.

The initiative formed part of a broader strategy to diversify investments and promote local economic growth through infrastructure development and employment opportunities.

Two mining sites were subsequently developed in the Florida department, with each facility reportedly requiring an outlay of approximately $60 million according to a former contractor involved in the work.Operations initially proceeded without major disruption.

However, tensions emerged over the interpretation of the electricity supply agreement with UTE, Uruguay’s state utility.

Tether’s local subsidiary, known as Microfin, understood a key contractual provision as establishing a baseline power level that could be expanded as mining demand grew.

In contrast, UTE regarded the specified quantity as a firm upper limit that could not be surpassed.

This fundamental difference of opinion became evident by late 2024 and intensified after a change in national administration in March 2025, when newly appointed utility directors adopted a firmer negotiating stance.Efforts to renegotiate the terms continued into the following year.

Microfin eventually halted electricity payments and formally notified UTE in June 2025 of its intention to end the existing contracts.

Although both parties explored a revised memorandum of understanding and updated contract language, which received approval from the utility’s board, representatives from Tether’s side did not appear for the formal signing.

With the agreement left incomplete and outstanding invoices accumulating, UTE disconnected electricity to the mining facilities on July 25, 2025.

By November 25 of that year, Tether informed Uruguayan labor authorities that it would wind down operations at the sites and dismiss the majority of its local workforce.

Microfin later resolved the unpaid electricity bills in December, according to information provided by UTE.

The abandoned facilities now stand as a costly reminder of the venture’s failure, with little tangible infrastructure remaining to demonstrate the scale of the original commitment.

The episode occurs against a backdrop of shifting economics in Bitcoin mining globally, where energy costs and contractual certainty play increasingly decisive roles.

While Tether has pursued mining-related investments in other markets, including renewable projects elsewhere in Latin America, the Uruguay experience underscores the risks of relying on negotiated power arrangements that may be subject to differing interpretations or political transitions. As reported by Reuters, the company did not provide comments in response to inquiries about the matter.

Zcash miners are pulling in roughly $727 per megawatt-hour of electricity consumed, a figure that makes Bitcoin mining look like a hobby by comparison. Bitcoin’s Antminer S23 Pro generates approximately $162 per MWh, meaning Zcash is delivering more than four times the revenue on the same unit of power.

The numbers, based on analysis from TheEnergyMag, also dwarf the high-performance computing colocation benchmark of around $222 per MWh. That’s the rate data centers typically earn from renting out rack space to AI and cloud workloads, the business that Bitcoin miners have been pivoting toward as a hedge.

What’s driving the gap The short answer is price. ZEC has been trading in the $800 to $890 range, a dramatic rebound for a coin that spent years languishing well below its 2018 highs. One week in 2026 alone saw a 68.7% jump, the kind of move that transforms mining spreadsheets overnight.

The hardware doing the heavy lifting is Bitmain’s Z15 Pro ASIC, purpose-built for the Equihash algorithm that secures Zcash’s proof-of-work network.

Earlier in 2026, before ZEC’s price rally fully materialized, mining revenue estimates ranged between $373 and $769 per MWh. The current $727 figure sits comfortably in the upper half of that band, suggesting miners are benefiting from sustained price strength rather than a single-day spike.

Institutional capital is noticing Cypherpunk Technologies made what looks like the boldest bet on Zcash mining infrastructure this year. The company closed a $33.33 million equity deal on August 18, 2026, acquiring 4.2 gigasols per second of hashrate. That single transaction gave Cypherpunk roughly 18% of Zcash’s entire network hashing capacity.

Zcash launched in 2016 as a privacy-focused digital asset, using zero-knowledge proofs to shield transaction details.

The math behind the margin A 50% drop in ZEC’s price would push revenue per MWh down toward the $360 range, still above Bitcoin’s current rate but no longer the triple-digit premium miners are enjoying today. A return to 2024-era ZEC prices, when the coin traded well under $100, would make the Z15 Pro a very expensive paperweight.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Ethereum registered one of the largest technical movements in recent months, rallying from below $2,000 to approximately $2,496 over several trading sessions. This surge has revived interest in the $3,000 price target, though Ethereum must overcome considerable resistance for further advances.

Ethereum’s breakout and resistance zonesThe breakout from a prolonged consolidation phase between $1,850 and $1,950 stands as the most significant change in Ethereum’s trend. For much of July and August, ETH stayed below $2,000 while its major moving averages retained a bearish structure. The recent strong upward impulse has shifted this landscape.

On the daily chart, Ethereum has now closed above its main moving averages. The key long-term average, positioned around $2,140, has been decisively surpassed. Meanwhile, shorter-term moving averages at $1,934, $1,974, and $2,082 now create a notable support area beneath the current price.

Volume also reinforces the technical improvement. One of the largest spikes since February coincided with Ethereum’s initial breakout, suggesting that the rally drew broad participation. At the same time, the move has pushed ETH into overbought levels, with the daily relative strength index (RSI) reaching approximately 80.

The rapid increase, with ETH gaining about 30% from its prior range, left little time for new support to form between $2,150 and $2,400. Even if the broader trend remains positive, a pullback or consolidation in this region would be a typical occurrence following such an advance. Ethereum now faces immediate resistance between $2,500 and $2,550.

A daily close above $2,550 could open the way to $2,600, with $2,700 to $2,800 as subsequent targets. Only after these levels are cleared does the $3,000 objective come into realistic play. Ideally, Ethereum would hold $2,400 on pullbacks to sustain its bullish momentum.

The most crucial structural support now lies in the $2,140 to $2,200 area. As long as ETH maintains levels above this former resistance, the $3,000 target remains possible in the medium term.

LevelCurrent Status$2,140Key structural support$2,400Supports bullish momentum$2,550Immediate resistance$2,700–$2,800Potential next resistance$3,000Medium-term targetEthereum decisively broke past its long-term moving average at $2,140, attracting large trading volumes and restoring the possibility of a $3,000 move, provided it maintains key support levels during the next phase.

Bitcoin surges, but correction risk remainsBitcoin has also shown renewed strength by approaching $79,000. Despite this resurgence, the pace of the move suggests that a short-term correction cannot be ruled out. Bitcoin climbed from the $63,000–$65,000 box to currently trade near $78,700.

This breakout was accompanied by significant increases in trading volume, helping BTC pass multiple major moving averages. The long-term average at $71,765, which had capped prices all summer, now serves as a key reference point above the medium-term technical outlook.

However, with Bitcoin trading nearly 10% above this core moving average and daily RSI at about 82, momentum indicators signal that the market is overheated. While such conditions do not guarantee a sell-off, they frequently precede a cooling-off period or pullback.

Short-term support is seen between $76,000 and $77,000, in line with recent consolidation following the immediate vertical rally. Holding this area may allow a test of $80,000 and possibly the May high of roughly $82,000. In case of a deeper correction, the $71,000–$72,000 zone—near the long-term moving average—becomes crucial.

A retest of the $71,765 area could help confirm its transformation from resistance to support. Additional backup exists between $67,000 and $68,500, where shorter moving averages converge. As a result, even a move toward $70,000 would remain within the bounds of a healthy technical retracement.

Bitcoin’s sharp recovery from $64,000 to nearly $80,000 establishes key support zones but leaves the asset vulnerable to a short-term move back to $70,000, especially if momentum fades and supports are tested.

Shiba Inu targets further growth after breakoutShiba Inu, the widely followed meme coin, is signaling the potential for additional advances, despite encountering resistance at its long-term moving average. At present, SHIB is priced close to $0.00000543 and retains most of its gains from its recent upward move.

SHIB surged from approximately $0.00000445 to briefly touch $0.00000620 in a wave of high trading volume. This rally pushed the price through short and medium-term moving averages, yet the ascent stalled at the long-term average near $0.00000574.

After touching this resistance, SHIB produced a prominent upper wick followed by a correction. Key resistance now stands between $0.00000570 and $0.00000600. Despite this setback, SHIB continues to trade above its crucial support levels, including the orange moving average around $0.00000494 and shorter spans at roughly $0.00000486 and $0.00000460.

Momentum also supports the possibility of another upward push. SHIB has created a solid technical buffer over its trend indicators, with RSI currently at 62, notably lower than during the initial rally. Sustained strength above $0.00000574 could expose $0.00000600–$0.00000620 as new targets, followed by the May resistance at $0.00000650.

If immediate support at $0.00000520 is breached, downward pressure may increase, making the $0.00000490 level crucial to maintain the breakout’s structure. A further move below $0.00000460 would undermine the bullish setup. Although the overall trend has not fully reversed, SHIB’s technical posture has improved with recent movements above key averages.

Mini dictionary: Moving average, a technical indicator that smooths out price data by creating a constantly updated average price, helping traders identify trend direction and support/resistance levels.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

The Securities and Exchange Commission (SEC) has sent subpoenas to major Wall Street banks over their dealings with Situational Awareness, the artificial intelligence (AI) hedge fund that nearly collapsed last month.

Three people briefed on the outreach described the requests to the New York Times. Regulators want trade timing data and lender communications. The fund has not been accused of wrongdoing.

SEC Investigation Targets the Leverage Paper TrailThe subpoenas went to banks that cleared the fund’s trades and financed its positions. Bank of America, Citi, Goldman Sachs, and JPMorgan Chase ranked among its largest counterparties, according to a regulatory filing.

Investigators asked for the timing of specific trades. They also requested messages the banks exchanged with the fund about borrowed money, and told them to preserve every record tied to the San Francisco firm.

All four banks declined to comment. So did the SEC. A Situational Awareness spokesman said scrutiny of this kind was predictable.

“It is to be expected that regulators would closely examine any funds that are high profile, produce significant returns or have particularly dramatic drawdowns,” Situational Awareness said in a statement.

The timing lands as bank executives flag hidden borrowing across markets. JPMorgan chief Jamie Dimon warned this month that margin debt hit records.

A $30 Billion Book That Unwound in DaysAt its peak the fund ran more than $30 billion and borrowed tens of billions more. Leopold Aschenbrenner, a 24-year-old former OpenAI researcher, founded it roughly two years ago.

Filings show the strategy turned far more aggressive before it broke. Protective put options worth $8.5 billion in March had largely disappeared by June 30, replaced by $12.5 billion in outright long positions.

AI names then dipped in late July while the traditional tech stocks the fund had shorted climbed. Margin calls followed, the portfolio fell about 67%, and Citadel bought the public book at a roughly 10% discount.

Bitcoin Miners Were Caught in the MiddleCrypto investors absorbed part of that unwind without knowing it. Mining stocks had grown to a quarter of the book, reaching $1.99 billion in the final 13F filing.

Core Scientific, Riot Platforms, and IREN led those positions. Ken Griffin’s firm has since cleared the miner overhang through nearly 100 block trades.

Any SEC investigation at this stage may never produce a case. The documents it gathers, however, could show how long the banks funded one concentrated AI bet before withdrawing credit.

Situational Awareness still holds a stake in Anthropic, which is weighing a public listing. That position now stands as the clearest measure of what survived July.

TLDR Bitcoin price surged about 22% from the mid-$63,000s to nearly $79,000 before consolidating. Coin-denominated open interest fell about 11% to roughly 312,600 BTC, showing leverage did not rise with price. CryptoQuant said fresh capital entered the market without a major increase in leveraged positions. Nearly $1 billion flowed into U.S. spot Bitcoin ETFs over a recent three-day period, supporting spot demand. Short liquidations helped accelerate the rally, while Bitcoin now faces major resistance near the $80,000 level. Bitcoin (BTC) price has climbed sharply from the mid-$63,000s in mid-August to around 77,000–78,000 by August 23–24. The move briefly pushed Bitcoin price near $79,000 before the market started to consolidate.

The rally has drawn attention because several market indicators show lower leverage even as price advanced. Analysts are now watching whether spot demand can support the move above a major resistance zone.

Bitcoin Price Rises as Open Interest Drops Santiment reported that coin-denominated open interest fell about 11% to roughly 312,600 BTC. That level marked a one-month low even as Bitcoin moved to fresh local highs.

BTC just rallied ~22% and the leverage came off. Open interest, measured in coins, is at a one-month low.

📈 Price went from ~$63.5K on average across Aug 12 to 18 to ~$77.7K on Aug 23.

📉 Coin-denominated open interest went the other way, from ~353,500 BTC over that pre-rally… pic.twitter.com/m5S403702q

— Santiment Intelligence (@SantimentData) August 24, 2026

Dollar-denominated open interest still rose about 8%, mainly because Bitcoin became more expensive. Santiment said leverage did not rise with price, which reduced signs of a classic leverage-led rally.

CryptoQuant reported a similar trend during the broader Bitcoin advance. The firm said fresh capital entered the market while leverage stayed controlled, pointing to stronger spot demand.

Its analysts said rallies supported by new money and limited leverage usually have a firmer structure. The data showed buyers entered while traders did not add large amounts of new borrowed exposure.

Glassnode reported that almost $1 billion moved into U.S. spot Bitcoin ETFs over a recent three-day period. It was the strongest three-day inflow since Bitcoin last traded above $80,000.

Spot Bitcoin ETF inflows: X The ETF flows added another source of demand during the rebound. Institutional buying through regulated funds may have helped support the market while derivatives activity remained less aggressive.

Short Squeeze Meets Major Resistance Anthony Pompliano said the advance also involved a large short squeeze. Liquidations forced bearish traders to close positions, helping Bitcoin move through resistance as prices accelerated.

Bitcoin is ripping due to the largest short squeeze in bitcoin's history.

But there are two other developments this week worth watching too… pic.twitter.com/1K08Qv7Hen

— Anthony Pompliano 🌪 (@APompliano) August 23, 2026

Rekt Capital remained cautious as Bitcoin approached the top of its long-running 60,000–80,000 range. He noted that earlier relief rallies often reversed after sharp moves, making the next several weeks important for market structure.

#BTC

Bitcoin is right at resistance (red)

Each Bear Market Relief Rally thus far would retrace sharply in the week following a strong breakout rally

Next weeks will be crucial

But maybe even already next week we'll know whether Bitcoin can sustain these highs or not$BTC… https://t.co/JaoTYb6yI3 pic.twitter.com/SoNLv82pzU

— Rekt Capital (@rektcapital) August 23, 2026

Bitcoin price action shows both short-covering and real spot demand. Lower coin open interest, ETF inflows, and reduced leverage suggest the rally was not driven only by derivatives.

The next test is whether buyers can keep Bitcoin above recent breakout levels. Sustained demand near $80,000 could help confirm strength, while weaker flows could leave the market open to a deeper pullback.

Abraxas Capital, Fasanara Capital, and Wintermute still hold over $600 million in short positions in Bitcoin (BTC) and Ethereum (ETH).

Blockchain tracker Lookonchain identified the positions as market maker hedging accounts. Their liquidation prices sit far above current market levels.

Liquidation Prices Sit Far Above SpotThe crypto market rally, fueled by policy moves, triggered a wave of short liquidations. BeInCrypto reported that on August 19, short sellers lost $1.3 billion within 60 minutes as Bitcoin climbed 2.5%. 

The broader sell-off in bearish positions intensified, with short liquidations reaching $2.74 billion as 172,202 traders were liquidated. Short sellers then lost another $1.06 billion over the following 24 hours.

Lookonchain said the largest remaining on-chain short positions now appear to belong to market makers’ hedging accounts.

“It seems that all the big whales have been liquidated in this price surge! Currently, the largest short positions on the blockchain are held by market makers’ hedging accounts,” Lookonchain posted.

The three firms hold short positions of 138,569 Ethereum (ETH) worth $338 million and 3,425 Bitcoin (BTC) worth $265 million.

Abraxas Capital runs the largest book. Its two ETH shorts liquidate at $4,008 and $3,958, while spot trades near $2,440.

Its BTC shorts liquidate at $128,521 and $140,437 against a $77,381 spot price. Wintermute’s Bitcoin position survives until $251,307.

No position faces liquidation unless Bitcoin climbs 66% or Ethereum climbs 62%. That distance explains why the squeeze passed them by.

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Wintermute Added Shorts as Losses MountedAbraxas Capital carries roughly $58 million in unrealized losses across its four positions. The firm has not closed any of them.

Fasanara Capital sits 18.87% underwater on a $74.81 million ETH short at 15X leverage. Wintermute remains marginally profitable on both assets, according to Lookonchain data.

Separately, Onchain Lens tracked Wintermute raising short exposure on Hyperliquid. That book shows $5.85 million in unrealized losses across various assets.

WINTERMUTE IS DOUBLING DOWN ON SHORTS WHILE MOVING HUGE FUNDS TO BINANCE 🐻

They have deposited millions more into Hyperliquid and increased their short exposure from $146.19M to $190.77M, adding ~$44.58M in shorts since our last update.

Top 5 short positions:

• $ETH: $53.02M… https://t.co/300FjXrgWv pic.twitter.com/Z79o7Fbj76

— Onchain Lens (@OnchainLens) August 23, 2026 The latest data suggests the remaining short exposure is less a broad bearish bet and more a reflection of market-making and hedging activity. 

With liquidation levels still far above current prices, the positions are unlikely to face immediate pressure unless Bitcoin and Ethereum extend their rally significantly.

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