Track market-moving stories before they get noisy

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) hover around key levels on Monday, with a bullish bias but appearing stretched after surging over 23%, 31% and 53% in the previous week. Such a massive rally suggests the top three cryptocurrencies could consolidate or pull back in the short term as traders take profits.

Bitcoin’s risk of a corrective pause is risingBitcoin price trades at $77,150, extending its advance well above key Exponential Moving Averages (EMAs) and leaving the near-term bias bullish but stretched after a 23.58% surge last week. The 50-day EMA at $66,773, the 100-day EMA at $67,408 and the 200-day EMA at $71,834 now sit well below spot, suggesting a strongly supported uptrend, while the horizontal level at $80,000 acts as the next topside resistance reference above the market in this accelerated phase.

Momentum is overheated, with the Relative Strength Index (RSI) holding in overbought territory at 78 and the Moving Average Convergence Divergence (MACD) deeply positive, hinting that while buyers remain in control, the risk of a corrective pause is rising.

On the downside, any pullback is likely to first eye the 200-day EMA near $71,834, with additional EMA cushions at $67,408 and $66,774. 

On the topside, a sustained push toward the $80,000 area would keep the uptrend intact despite the overbought momentum backdrop.

BTC/USDT daily chartEthereum trades at $2,415, holding a bullish near-term bias as price remains comfortably above the 50-day, 100-day and 200-day EMAs. The clustering of the short- and medium-term EMAs below the market suggests a well-supported uptrend, while the RSI near 76 hints at overbought conditions. The MACD is firmly positive, reinforcing strong upside momentum, though the elevated readings suggest a corrective pause is possible.

On the topside, immediate resistance is seen at the horizontal barrier around $2,500, followed by a more significant cap near $3,000.

On the downside, the first layer of support is the current trading area, with deeper protection from the 200-day EMA near $2,142 and the psychological $2,000 level. Below there, the 50- and 100-day EMAs around $1,984 and $1,973, respectively, should offer additional demand before any move toward the distant structural floor at $1,385.

ETH/USDT daily chartXRP surges over 50%XRP price trades at $1.467 on Monday, extending its strong upswing after surging over 50% in the previous week. Moreover, XRP is above the 50-day, 100-day, and 200-day EMAs at $1.141, $1.181, and $1.350, respectively, which now underpin a clear bullish near-term bias.

The move has been fueled by heavy participation, with recent volume well above prior weeks. At the same time, the RSI at 78 sits in overbought territory, hinting that the rally is stretched even as the MACD remains firmly positive, reinforcing upward momentum.

On the downside, initial demand is expected around $1.350, where the 200-day EMA clusters with prior price action, ahead of horizontal support at $1.300; deeper pullbacks would expose the 100-day EMA at $1.181 and the 50-day EMA near $1.141, with $1.000 marking a more distant structural floor.

On the topside, the next notable resistance is the horizontal barrier at $1.900, and with momentum already overheated, any test of this level could trigger profit-taking and a corrective phase toward the underlying EMA supports.

XRP/USDT daily chart(The technical analysis of this story was written with the help of an AI tool. Know more.)

(This story was corrected on August 24 at 05:13 GMT to say, in the second paragraph, that the horizontal level at $80,000 acts as the next topside resistance, not support.)

Cryptocurrency prices FAQs Token launches influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.

A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platform via exploits, bugs or other methods. The exploiter then transfers these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets.

Macroeconomic events like the US Federal Reserve’s decision on interest rates influence crypto assets mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher.

Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs.

Leading cryptocurrencies pulled back on Sunday after a sharp rally earlier in the week as geopolitical tensions tempered risk appetite.

Crypto Market Cools DownBitcoin climbed to $78,000, faced resistance, and then began consolidating. The apex cryptocurrency has jumped 22% over the week to hit levels last seen more than three months ago.

Ethereum’s trading volume fell 17% over the last 24 hours as it traded between $2,357 and $2,483. XRP and Dogecoin recorded notable declines.

Nearly $400 million was liquidated from the cryptocurrency market in the last 24 hours, with $220 million in bullish long positions erased, according to Coinglass data.

Open interest in Bitcoin futures fell marginally by 0.02% over the last day but remained 17% higher over the week. Retail and whale derivatives traders on Binance remained in a “Neutral” position.

“Greed” sentiment persisted in the market, according to the Crypto Fear & Greed Index.

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The global cryptocurrency market capitalization stood at $2.63 trillion, following a modest increase of 0.18% over the last 24 hours.

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Stocks Futures SlideStock futures ticked lower overnight on Sunday. The Dow Jones Industrial Average Futures fell 48 points, or 0.09%, as of 8:41 p.m. EDT.  Futures tied to the S&P 500 dipped 0.03%, while Nasdaq 100 Futures slid 0.06%.

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Geopolitical tensions continued to weigh on investor sentiment as Treasury Secretary Scott Bessent said Washington will impose the “toughest sanctions in history” on Iran, with more details expected Monday.

Meanwhile, investors will be watching Wednesday’s release of the July personal consumption expenditures price index for new clues on inflation.

Bitcoin Headed to $82,000?Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, predicted a “little dip” for Bitcoin on Sunday evening, followed by a continuation higher to break $82,700, while viewing $74,000 as a “massive area” to buy if tested.

Van De Poppe also weighed in on Ethereum’s potential, stating that ETH is more likely to make another run toward the highs in the coming days.

On the other hand, the analyst identified $2,200 as a potential entry point on any retest of lows.

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

Bitwise Asset Management took in more than $1.8 billion of new money in the first half of 2026, chief executive Hunter Horsley said Sunday. Crypto prices fell through most of it.

Tom Lee called the result outstanding. However, the money did not chase prices, as three of the four Bitwise product lines behind that total pay investors an income instead.

Why Lee Called It OutstandingHorsley posted the figure on Sunday. Net inflows measure new money in, minus money pulled out.

In H1 of this year, amidst a bear market, investors put over $1,800,000,000 into Bitwise products (“net inflows”),” the Bitwise executive shared.

Tom Lee, co-founder and head of research at Fundstrat Global Advisors, commented, lauding the team for growing significantly despite bearing market conditions.

— Thomas (Tom) Lee (not drummer) FundstratDirect.com (@fundstrat) August 23, 2026
Lee has stayed bullish through the slump. He ranked 17 crypto stocks earlier this week. Bitcoin (BTC) traded near $77,403 on Sunday, little changed.

What the Money Actually BoughtHorsley said four franchises each drew over $100 million. They were:

ETFs and ETPs (exchange-traded funds and products)
Private strategies
Staking, and
Vaults.
Three of them pay a yield. Bitwise numbers show how much.

Its vault, opened in January with the onchain lender Morpho, targets about 6% a year on stablecoins. Its tokenized Crypto Carry Fund held $259 million by late May and yielded 4%.

Carry sounds complex but is simple. The fund buys crypto, sells futures against it, and keeps the gap.

Staking drew the fastest money. Bitwise’s Solana staking fund passed $500 million just 18 days after listing last November. Rivals now rush to put Ethereum yield in ETPs.

The Fund That Sells Price Alone ShrankOne Bitwise product pays nothing. The Bitwise 10 Crypto Index ETF (BITW) holds a basket of large tokens. Bitcoin and ether are about 91% of it.

Its filings tell the story. Net assets fell from $1.03 billion on December 31 to $678 million on March 31. That is 34% gone in three months.

Two forces did it. Price per share dropped 24%. Investors also cashed out 2.25 million shares, about 13% of the fund.

Cost was not the reason. Bitwise had just cut the fee from 2.50% to 0.75% when the fund joined NYSE Arca in December. The same fund gained 94.8% in 2024.

Staff felt it too. A Bitwise workforce reduction on August 12 cut headcount from roughly 180 to 155.

Net inflows count deposits, not gains. Inside Bitwise, investors paid for yield and walked away from price.

Following one of its biggest daily movements of the year, XRP has completely altered its short-term technical structure. After briefly rising to about $1.70, the asset is currently trading at about $1.49. The breakout was accompanied by a significant increase in trading volume. 

XRP's fundamental improvements Most significantly, the whole cluster of major moving averages has been cleared by XRP. The shorter averages are located much lower at about $1.10-$1.18, while the long-term moving average near $1.35 served as the last significant dynamic resistance. Therefore, holding above $1.35 would indicate a significant structural improvement as opposed to a brief spike in volatility. 

XRP/USDT Chart by TradingViewBut the rally has grown incredibly long. With a daily RSI of about 86, XRP is extremely overbought. Additionally, the lengthy upper wick at $1.70 indicates that sellers have already reacted forcefully at higher prices. The $1. 50-$1. 55 area is the immediate problem. The route toward $1.60 and ultimately the most recent intraday peak of $1.70 could be reopened by a daily close above this area. 

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XRP would have comparatively little visible resistance before the $1.80-$2.00 range if it broke $1.70. A correction wouldn't always render the breakout invalid. The long-term moving average and the breakout area are located at $1.35, which is the first significant support. 

The larger recovery structure is maintained if XRP is able to establish that level as support. However, a decline below $1. 35 would increase the likelihood that the explosive move was an exhaustion event rather than the start of a long-term trend reversal. 

Shiba Inu building recovery structureAfter months of consistent downward pressure, Shiba Inu is trying to build a recovery structure, but the most recent rejection indicates that bulls have not yet achieved a complete trend reversal. Following an explosive move that momentarily raised the token above $0.00000600, SHIB is currently trading around $0.00000544. 

SHIB/USDT Chart by TradingViewThe long-term moving average, which is currently at $0.000574, was the most significant technical barrier in the current setup since that rally was promptly rejected close to it. The fact that SHIB is still higher than its shorter moving averages is a positive development. The token has recovered the orange average at $0.00000493, and there is more support at $0.00000480 and $0. 00000457. 

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As a result, the short-term structure is significantly healthier than it was in June and July. It has also gained momentum. After the rejection, RSI is now close to 64, above its signal line but not overbought. During the breakout attempt, trading volume increased significantly, indicating real market participation as opposed to a low-liquidity drift higher. 

Now, SHIB must convert $0. 00000550-$0. 00000575 into support. The former March-May consolidation zone, which is located between $0. 00000620 and $0. 00000660, would be exposed after a clear break above the long-term moving average at roughly $0.00000600. 

SHIB would remain susceptible to another retracement if that obstacle was not overcome. The current recovery would be weakened if the token lost $0. 00000490, and it would revert to its previous bearish structure if it moved below roughly $0. 00000455. The long-term resistance directly overhead continues to be the crucial test, but for now, SHIB has momentum. 

Hyperliquid's skyrocketing continuesAfter momentarily reaching about $82.50, Hyperliquid has continued its breakout and is currently trading around $80. The move confirms that the August recovery has grown into a much larger bullish impulse and places HYPE firmly above its prior June-July peaks around $75–$77, giving the token a new local high. 

HYPE/USDT Chart by TradingViewTechnically, the structure is very robust. With dynamic support presently concentrated around $63. 21, $61.10, and $58.56, HYPE trades significantly above all major moving averages. Near $52.42, the long-term average is still significantly lower. The distance between price and these averages illustrates both the strength of the move and the length of HYPE.

The biggest immediate risk is now that extension. At 80. 55, the daily RSI is clearly in overbought territory. Additionally, volume has increased significantly during the breakout, bolstering the move's legitimacy and raising the likelihood of profit-taking following such quick appreciation. 

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Keeping the price between $75 and $77 is now crucial for bulls. The first significant area of support ought to be this former resistance zone. A path toward $82. 50 and possibly $85-$87.50 would be preserved if it were held. While HYPE's overall structure is still bullish while it remains significantly above the $60-$63 region, a decline below $75 would instead raise the likelihood of a deeper retest toward $70. 

Bitcoin's breakout might slow downBitcoin has experienced a significant technical breakout, rising from the consolidation range of $63,000 to $65,000 to roughly $77,000 in a few daily sessions. More significantly, one of the strongest technical barriers that had kept the price contained since the start of the wider downtrend has been removed as Bitcoin has crossed its long-term moving average at roughly $71,689. 

The move's credibility was increased by the breakout's significant volume expansion. Additionally, Bitcoin trades well above its shorter moving averages, which are currently centered between $65,100 and $67,500. Momentum, however, is now severely stretched. The daily RSI is at about 80, while its moving average is at about 58 points. 

BTC/USDT Chart by TradingViewThat does not necessarily mean a quick reversal, but it does make further upside more reliant on consistent buying as opposed to just momentum continuation. The May peak is located between $82,000 and $82,500, and the first resistance is located around $80,000. The $85,000 region might become visible if that area were cleared, which would be another significant structural improvement. 

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On a pullback, the more crucial test might occur. Because it includes the recently reclaimed long-term moving average and breakout region, the $71,500–$72,500 area now serves as the crucial support zone. 

The claim that Bitcoin has moved out of its prior bearish structure would be strengthened by a successful retest. That thesis would be undermined if $71,500 were lost, exposing $67,000 to $68,000. Although BTC has currently reached the necessary breakout bulls, consolidation would be preferable to another quick vertical advance due to its overbought momentum.

Bitcoin owners are getting ready to claim an equivalent amount of a new cryptocurrency known as eCash, or ECX, as a planned hard fork of the Bitcoin blockchain moves into its initial phase.

The project, developed by LayerTwo Labs under the leadership of longtime Bitcoin contributor Paul Sztorc, aims to create an independent network that mirrors Bitcoin’s transaction history at specific points without altering the original Bitcoin chain in any way.

Rather than launching as a single event, the ECX hard fork is proceeding through three deliberate stages to allow testing, infrastructure preparation, and community familiarization.

The alpha phase activates around Bitcoin block height 963,648, corresponding roughly to August 23, 2026.

During this period, participants can experiment with software, mining, wallet functionality, and trading of temporary practice tokens referred to as pECX or alpha ECX.

These practice units carry no permanent value on their own but can later be burned and redeemed for a portion of the official coins once the full network is live.

A beta stage follows around September 20 at block height approximately 967,680.

This intermediate step is expected to involve greater participation from exchanges, custodians, wallet providers, and miners, providing a more realistic environment for testing operational readiness.

The permanent mainnet release is scheduled for around October 31 at block height near 973,728.

That date coincides with the 18th anniversary of the publication of Satoshi Nakamoto’s original Bitcoin white paper, adding symbolic weight to the full launch.

At the mainnet snapshot, permanent ECX balances will be assigned on a one-to-one basis with Bitcoin holdings at that time for nearly all addresses.

Bitcoin itself remains completely unaffected; holders simply gain an additional asset on the new chain.

The core purpose of ECX is to enable drivechains—opt-in sidechains that support features such as enhanced scalability, privacy, and experimentation—while leaving Bitcoin’s base-layer rules intact.

The new network uses the same SHA-256 proof-of-work mechanism as Bitcoin, with a temporary difficulty reset at activation to facilitate early mining.

Replay protection is available on an opt-in basis through official software, which warns users before transactions; without intentional separation of assets, movements of Bitcoin could affect corresponding ECX holdings.

Most Bitcoin holders who control their private keys at the relevant snapshot heights will automatically receive matching ECX without needing to register or file claims.

A portion of early Satoshi-era coins on the new chain is handled differently to support development, but this applies only to ECX and leaves actual Bitcoin balances untouched.

Holders keeping assets on exchanges should monitor those platforms’ policies, as some may implement temporary freezes or decide independently whether and how to credit the new tokens.

The phased approach gives the ecosystem roughly twelve weeks between the alpha start and the permanent release to identify issues, build support, and prepare tools.

Practice coins earned in the earlier stages can be exchanged for official ECX after mainnet activation, creating incentives for early testing.

While adoption by major infrastructure providers remains an open question and community support has been limited so far, the project positions itself as a way to expand Bitcoin’s capabilities through a separate, compatible ledger.

As the alpha phase begins, attention turns to practical steps: verifying self-custody of keys, reviewing wallet compatibility, and watching for official software releases. The original Bitcoin network continues operating without interruption, and the success of ECX will ultimately depend on participation, liquidity, and the usefulness of its planned sidechains.

Robert Kiyosaki has intensified his warnings about the US dollar following the Treasury Department’s decision to significantly increase its buybacks of longer-dated government bonds. This move, Kiyosaki argued on X, reflects a renewed phase of monetary expansion and adds pressure to inflation and the value of cash.

Treasury boosts long-term bond buybacksOn June 26, the US Treasury announced that it will double the size of liquidity-support buyback operations for 10- to 20-year and 20- to 30-year securities. The maximum size for each buyback will climb from $2 billion to at least $4 billion per operation, starting September 9 and remaining in effect through the current refunding quarter, which ends November 4.

Authorities said the expansion aims to improve liquidity in less-traded pockets of the Treasury market, where officials have observed high participation from market makers. Importantly, the Treasury noted that these buybacks exchange current government debt and do not directly expand the money supply, unlike the quantitative easing programs administered by the Federal Reserve.

Still, the timing has focused attention on the health of US government finances. Long-term Treasury yields have touched levels last seen in 2007, while total US federal debt has surged past $40 trillion. Coinpaper reported that debt held by the public stands at approximately $32.27 trillion, as rising refinancing costs threaten to escalate fiscal risks further.

Kiyosaki urges investors to shift away from cashAgainst this backdrop, Kiyosaki continues to caution followers against holding US dollars and instead advocates for real assets like gold, silver, Bitcoin, and real estate. He contends that inflation and repeated interventions in debt markets undermine the dollar’s purchasing power over time.

Kiyosaki has maintained that ongoing efforts to absorb government debt amount to creating more “fake dollars,” ultimately decreasing the value of the currency and making alternative assets a safer store of value.

This view has gained momentum, particularly as bond yields retreated and the dollar weakened in response to the Treasury’s announcement. Bitcoin reversed recent losses and surged, approaching $79,000 after dropping near $65,000 earlier in the week. Analysis from Coinpaper connected this rally to falling Treasury yields, inflows into exchange-traded funds, and short liquidations.

Kiyosaki does not claim that Treasury buybacks and quantitative easing are identical, but he argues that ongoing measures to stabilize the debt market drive demand for hard assets with limited supply. Bitcoin’s supply, capped at 21 million coins, has fueled arguments that it can serve as an inflation hedge, even as its price remains highly volatile over time.

Real-world assets and evolving investor toolsAs traditional markets continue to evolve, broader trends have caught the attention of both institutional and retail investors. With increasing concern over monetary expansion and asset debasement, Wall Street is beginning to embrace Web3 technologies. Platforms such as 1stepSwap allow investors to hold tokenized shares of leading US corporations, gold, and silver directly in their crypto wallets, removing reliance on complex brokers. These solutions let users tokenize real-world assets (RWAs) while automatically seeking optimal market prices within seconds, thereby eliminating intermediaries from the process.

For investors, the Treasury’s latest initiative raises questions about future government borrowing needs and the stability of traditional fiat assets. The core debate remains whether persistent debt-linked pressures and high yields will continue to steer capital toward Bitcoin and other hard assets, as Kiyosaki contends.

The recent policy adjustment is small in relation to the $40 trillion Treasury market, but recurring fiscal challenges could sustain demand for alternative assets historically promoted as hedges against currency debasement.

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.

Crypto’s true believers suddenly have a spring in their step again.

Just days ago, Bitcoin still looked trapped in a market that had spent months grinding lower. Then, almost out of nowhere, it ripped toward $80,000, notching its best weekly gain in years and reviving the memes, the HODL chants and the conviction that momentum itself can pull crypto higher.

Rocket-ship emojis returned to X, bear-market obituaries resurfaced and Michael Saylor posted an AI-generated nightclub meme urging followers to “buy Bitcoin, hold 10 years, ignore the noise, survive the fears.”

The spark came partly from the bond market. Treasury Secretary Scott Bessent’s plan to at least double long-dated Treasury buybacks initially pulled yields lower and weakened the dollar while gold surged.

That combination revived the so-called debasement trade: the idea that mounting fiscal strains and easier financial conditions strengthen the case for scarce assets outside the government monetary system. For Bitcoin bulls, it was fresh macro ammunition arriving just as bearish positioning was stretched.

Even Ray Dalio, hardly a crypto evangelist, touted Bitcoin, citing an “unsustainable” debt spiral.

Read more: Dalio Says Sell Bonds, Buy Gold, Bitcoin as Debt Crisis Looms

It’s “very nice to see some signs of life in the crypto market. And this rally feels different from other tenuous sparks over the past few months,” said Noelle Acheson, author of the “Crypto Is Macro Now” newsletter.

Crypto’s great hope has always been that momentum can create more momentum.

That is how the last boom fed on itself. Rising prices forced short sellers to cover, drew more money into spot ETFs, lifted crypto-linked stocks and digital-asset treasury companies, and gave some of those firms more capacity to raise money and buy still more Bitcoin. Higher prices then pulled sidelined investors back in, adding another layer of demand.

This past week offered the first real glimpse of that machinery trying to restart. A record wave of bearish bets was wiped out, spot-trading volumes jumped and Bitcoin ETFs drew fresh inflows. The policy backdrop helped too: President Donald Trump again pressed Congress to pass the Clarity Act, reinforcing an administration stance that has been broadly supportive of digital assets throughout this cycle.

“The regulatory risk premium is being repriced lower after Trump again urged Congress to pass crypto market structure legislation, which matters because clearer rules make it easier for institutions to underwrite exposure,” said Lacie Zhang, research analyst at Bitget Wallet.

The rise was so swift that Bitcoin broke above its 100- and 200-day moving averages, widely watched technical gauges, while its 14-day relative strength index pushed into what traders consider overbought territory.

Over at Standard Chartered, Geoffrey Kendrick sees scope for the rally to feed on itself. He pointed to record short liquidations in data going back to 2021 and more than $1 billion of weekly spot-Bitcoin ETF inflows, arguing that stronger prices could attract further flows and eventually draw leveraged traders back into the market.

“For the first time this year there is now a risk my end-year forecast (of USD100k) is too low,” he wrote in a note. “Once investors remember how quickly prices can accelerate to the topside, and we get past the 6 October date (12 months after the all-time high) an overshoot towards the all-time high (USD126k) before year-end may be possible.”

But one big week does not prove the flywheel is running again. The world’s largest cryptocurrency has merely clawed back to levels last seen in May and remains roughly 43% below its October record, still well short of establishing a new trading range.

Much of the initial surge came from forced short covering, many ETF investors are still underwater, and the digital-asset treasury companies that helped amplify earlier rallies remain diminished. Bitcoin has also staged rebounds this year that fizzled when fresh buyers failed to follow.

Establishing a new trading range will require something the squeeze alone cannot provide: sustained demand.

“There are some encouraging signs: as prices continued higher, we saw fresh buying come into the market rather than traders simply closing short positions,” said Tanay Ved, senior analyst at Talos.

A crypto bull market is typically defined by a prolonged period of rising prices, increased liquidity, and higher investor demand spanning much of the digital asset landscape. However, market analysts emphasize that isolated gains in Bitcoin do not alone signal the beginning of such a cycle.

Key features of a genuine bull runSustained rallies usually feature multiple converging signals: Bitcoin must hold above significant long-term support levels, new capital consistently flows into cryptocurrency markets, and on-chain profitability metrics improve. As momentum grows, participation also broadens beyond Bitcoin, reaching Ethereum and various altcoins.

Bitcoin continues to serve as the central benchmark in determining overall market direction. Analysts point out that a persistent move above major resistance points and average investor cost-basis levels is far more meaningful than temporary spikes in price.

Glassnode, a leading blockchain data analytics firm, has long monitored indicators such as Bitcoin’s short-term holder cost basis, realized profit and loss, and realized capitalization to assess investor sentiment. Research from the company confirms that ongoing positive capital inflows are more reliable than price movements alone when judging if new growth phases are beginning.

Glassnode’s analysts conclude that “no single metric can confirm a bull market. The strongest signal is alignment: rising prices supported by real capital inflows, improving on-chain data and broader market participation.”

Institutional interest has gained importance as a market driver. US spot Bitcoin ETFs are now viewed as a gauge of large-scale demand, given their capacity to absorb considerable volumes of BTC. In May 2026, spot Bitcoin ETFs recorded six consecutive weeks of inflows totaling approximately $3.4 billion, reflecting how quickly institutional participation can amplify a rally.

A lasting crypto bull market is generally characterized by expansion beyond Bitcoin. With Ethereum strengthening and overall trading volumes rising, investors tend to shift toward higher-risk cryptocurrencies as sentiment improves.

From Bitcoin to altcoins: key market transitionsAnalysts observe that a decline in Bitcoin dominance—the metric tracking Bitcoin’s share of the overall crypto market—may indicate capital moving into alternative assets. Still, they advise that this shift alone does not definitively mark the start of a broad-based bull market. A true altcoin season usually requires sustained outperformance across a wide array of digital tokens, rather than rallies in just a handful.

The traditional market cycle remains closely tied to Bitcoin’s fixed issuance schedule. The next halving event, projected for April or May 2028, will reduce the block reward from 3.125 BTC to 1.5625 BTC. While past halvings have often preceded significant market uptrends, analyst caution that the timing and duration of these cycles are not consistent.

Investors are encouraged to watch for several concurrent indicators before confirming a new bull run:

Bitcoin forms higher highs and higher lows over a sustained interval.ETF and spot inflows remain positive, signaling new capital rather than speculative leverage.Trading activity and volumes rise along with prices.On-chain profits improve without overwhelming sales from long-term holders.Altcoins begin to outperform, usually as Bitcoin dominance falls.Glassnode maintains that true bull markets arise when these factors appear together. Price rallies unsupported by new capital or improving fundamentals are more susceptible to abrupt reversals, highlighting the need for caution among investors.

Mini dictionary: Glassnode, a blockchain analytics firm, provides data and insights about on-chain activity, offering metrics like realized capitalization and holder-based statistics to help investors interpret market movements.

SignalCautionConfirmationBitcoin price spikesBrief, isolated moves not enoughLasting moves above key levelsETF inflowsShort bursts may fadeSix weeks, $3.4 billion sustained inflowsAltcoin ralliesFew tokens outperformingBroad-based outperformanceOn-chain profitabilityMixed signals or high sell-pressureImproves with low long-term holder sellingDisclaimer: 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.

WASHINGTON, DC - MARCH 11: CEO of BlackRock Larry Fink speaks during a panel at the BlackRock Infrastructure Summit on March 11, 2026 in Washington, DC. The global investment management company held the summit consisting of leaders from government, business, and labor to address expanding U.S. infrastructure. (Photo by Anna Moneymaker/Getty Images)

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"Bitcoin got rejected at $79,500, we almost hit $80,000," the analyst account darlene.net posted on X on August 22, as a five-day run from under $63,000 stalled and the price drifted back toward $76,000. "There was a large volume of sell orders sitting there, but the market will gradually eat through them and push higher."

"ETFs bought $1,920,000,000 in $BTC this week. Biggest weekly inflow since October 2025," the analyst Ted Pillows posted the same day, a week Farside Investors' tally shows peaked Thursday at $606 million, $503 million of it BlackRock's IBIT.

'Institutions Aren't Waiting'"BlackRock's clients just stacked over $500,000,000 worth of Bitcoin in a single day," the account @nikonchain posted, days after mid-August sessions had bled a net $385 million from the funds. "Institutions aren't waiting."

"Asset managers and ETF issuers have existed for a while," Bruno Caratori, co-founder of ETF issuer Hashdex, said on the On The Margin podcast. "All the folks here in the US know very well the names such as Fidelity, Vanguard, BlackRock, and there's a lot more."

"Spot Bitcoin ETFs pulled in 517.19 million dollars on Wednesday, the largest single day inflow in three and a half months. Eight of twelve ETFs were positive, led by 284.7 million dollars into BlackRock's IBIT alone," the account @IgnacioAFCMO wrote, three days after the short squeeze that had Anthony Scaramucci eyeing $100,000. "Real money showed up right as the short side got forced out. That timing is rarely a coincidence."

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'The Support Is Now At The $75,000 Level'"Roughly $550 million worth of leveraged crypto positions was liquidated in just 60 minutes as Bitcoin fell from $79,500 to around $77,000," the tracker account Alerting.Guru counted, putting the 24-hour total at $1.8 billion across more than 286,000 traders. "This is already the third major liquidation wave," darlene.net added.

"Some profit booking has happened, and this is good, as we may see accumulation before the next leg up," the swing trading account CRYPTID.Crypto posted, days after Polymarket traders put 85% odds on $80,000. "The support is now at the $75,000 level."

'Exit Liquidity At $79K'"Everyone is celebrating $79K. I'm doing the opposite," the pseudonymous trader Simba posted, pushing back on the retail rush that has some eyeing $126,000. "The second retail turns bullish again, I start paying attention," the post continued. "I'm not bearish on Bitcoin long term. I'm bearish on becoming exit liquidity at $79K." Then: "Let everyone else FOMO into the pump. I'm waiting for the real blood before I start loading longs."

"And they tend to buy back late," Michael Terpin, founder of Transform Group, said of bitcoin's biggest holders on the On The Margin podcast. "They tend to buy back about four to six weeks after the bottom because they're hoping it goes lower. And they don't want to get dumped on."

'I'd Be Happy With 80,000'"They do not want to go and be exit liquidity for the panicked newbies that bought at the top," Terpin said, voicing the investor who buys a top and then bargains with every round number on the way down: "I'd be happy with 80,000 and all of sudden it goes down to 60 and it recovers up to 70. They're like, oh my god, I got out at 70. Thank God. I lost 30%."

"At the height of prices, we had close to one point seven billion dollars, I believe. And of course our assets under management fluctuate with prices," Caratori said of his own firm's funds. His measure of the buying is not the dollar figure: "we're still at our all-time high in terms of bitcoins under management."

"Above $80,000 there are still many billions of dollars in shorts waiting to be liquidated," darlene.net posted, the fuel bulls are counting on if the ETF bid chews through the wall at $79,500.

Peter Schiff has argued that the rise of artificial intelligence is not a bullish development for Bitcoin, pushing back against attempts to link the cryptocurrency to the booming AI sector.

In an Aug. 23 post on X, Schiff said Bitcoin advocates were trying to associate the asset with AI in the hope that investors would treat Bitcoin as part of the broader AI investment theme.

“Bitcoin pumpers are trying to hitch Bitcoin to the AI wagon, hoping investors will see it as part of the AI trade,” Schiff wrote. “They have it backwards. AI isn’t bullish for Bitcoin; it’s a threat to it.”

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First, he believes the two sectors are competing for speculative investment capital. AI has become one of the biggest themes in financial markets. He also pointed to competition for electricity and data-center infrastructure. 

The most significant part of his argument, however, concerns Bitcoin’s security. Schiff believes advanced systems could potentially identify weaknesses in Bitcoin’s software or cryptographic infrastructure that have not been discovered by humans.

“Plus, as AI becomes more powerful, it could discover vulnerabilities in Bitcoin’s code, cryptography, wallets, or network that humans have missed,” Schiff wrote.

He argued that this matters because Bitcoin’s security and limited supply ultimately depend on software and cryptographic mechanisms continuing to function as intended.

Schiff did not provide evidence that AI has currently discovered such a vulnerability in Bitcoin. 

Schiff blasts Bitcoin as a "scam"Earlier on Aug. 23, he wrote that “AI is not a scam, but Bitcoin is,” while also dismissing criticism of his longstanding position on the cryptocurrency.

Schiff has repeatedly argued that Bitcoin holders would have been better off selling the asset and buying precious metals instead. Responding to a post about Bitcoin’s historical gains, he wrote: “Yes, I could have made a lot of money with Bitcoin. But that's old news. Over the last five years or so I've been better off not owning Bitcoin. It's the Bitcoin HODLers who have left a lot of money on the table by not selling!”

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His comments have also focused on inflation. On Aug. 21, Schiff said he did not view Bitcoin as an inflation hedge and argued that investors should choose gold or silver instead.

“I don't think Bitcoin is an inflation hedge,” he wrote. “But I noted that other people think it is. They are wrong.”

Schiff similarly dismissed Bitcoin’s recent rally, arguing that inflation expectations and easier monetary conditions would benefit precious metals more than the cryptocurrency. On Aug. 20, after Bitcoin moved above $72,000, he described the move as “a fakeout, not a breakout” and urged investors to “Sell Bitcoin, buy gold.”

Bitcoin

24 August 2026 | 00:19 Bitcoin Core developers are currently debating whether to keep support for CJDNS, an encrypted peer-to-peer routing protocol, after automated network checks revealed a surprisingly small population of active nodes.

While no code has been removed and no final decision has been made, the low adoption metrics have forced contributors to re-examine the practical security and engineering trade-offs of maintaining legacy overlay networks inside the main Bitcoin client.

Key Takeaways A recent seeder database check found only seven “good” CJDNS nodes, highlighting minimal active adoption on the network. Thin peer pools undermine security by making it dramatically easier for malicious actors to isolate and manipulate CJDNS-only nodes. Developers are weighing code complexity and bug risks against keeping an alternative routing network available during emergencies. The proposal concerns node networking and transport protocols only; it does not affect block validation, transaction rules, or core consensus. Seven “good” nodes trigger a broader infrastructure audit The technical discussion began in an open GitHub issue when developers questioned whether Bitcoin Core should continue supporting an encrypted routing layer that sees almost no documented real-world traffic. The core objective of adding alternative network transport layers to Bitcoin is to guarantee redundancy, preventing any single point of network-level failure or censorship. However, redundant routes only function if there is an active mesh of peers participating on the underlying network.

During automated testing of a CJDNS-only node setup, Core developer Marco Falke reported that his instance was unable to establish connections with more than three or four distinct peers at any given time. Following up on the observation, another contributor queried an established network seeder database containing 25 known CJDNS addresses. Out of the 25 addresses tested, 22 responded to basic handshakes, but only seven met the technical criteria required to be classified as reliable, “good” peers for active block and transaction propagation.

It is important to understand that a single seeder query does not represent an absolute census of every operating node across the entire CJDNS ecosystem. Private, non-advertised nodes and unindexed peers may still exist outside public seeder lists. Nevertheless, the low numbers underscore a serious practical reality: an overlay network with fewer than a dozen accessible routing targets fails to provide the operational redundancy required for a resilient production node.

Understanding CJDNS: Encrypted IPv6 routing vs. consensus rules CJDNS is an encrypted IPv6 mesh-network overlay that uses public-key cryptography for address allocation and distributed routing. Bitcoin Core added native CJDNS support in version 23.0 in 2022, letting node operators route peer traffic over CJDNS alongside IPv4, IPv6, Tor and I2P.

Bitcoin Core’s documentation says CJDNS encrypts traffic end to end and can make traffic analysis and filtering harder. It is not an anonymity network in the same sense as Tor, however: intermediate CJDNS routers can still see the cryptographic source and destination addresses of packets they forward.

The proposal concerns only how Bitcoin Core finds and connects to peers. Removing CJDNS support would not change block validation, mining, script rules or transaction formats; nodes would continue enforcing the same Bitcoin consensus rules.

The security mechanics of an eclipse attack In Bitcoin node security, network transport and peer selection are directly tied to data integrity. Encryption hides packet contents from third parties, but it does not protect a node from being fed false or delayed information if its selection of peers is too restricted.

A primary threat to isolated nodes is an eclipse attack. In an eclipse attack, an adversary compromises or controls all of the peer connections established by a target node. By surrounding the target node completely, the attacker effectively partitions it from the legitimate global Bitcoin network. From this vantage point, the attacker can manipulate the victim’s view of the blockchain by delaying block announcements, censoring specific incoming transactions, or attempting double-spend attacks against unconfirmed transactions.

Under standard IPv4, IPv6, or Tor routing, Bitcoin Core mitigates eclipse attacks by establishing multiple independent connections across diverse netgroups and network ranges. But when a node operates exclusively over a network with only seven reliable peers, the total pool of available connections is far too small. An attacker needs very few resources to monopolize all incoming and outgoing connections of a CJDNS-only node, turning an intended security fallback into a significant single-point failure vector.

Code complexity and the case for deprecation In addition to low adoption figures and security concerns, developers advocating for removal emphasize the ongoing maintenance burden that CJDNS code imposes on the overall Bitcoin Core software repository.

Unlike standard protocol handlers, CJDNS integration is not completely isolated from standard IPv6 connection logic. Because CJDNS uses specially formatted IPv6 addresses, the codebase requires custom handling logic, dedicated launch arguments like -cjdnsreachable, and specialized edge-case workarounds. Over time, developers have noted that these custom logic paths introduce bug risks and complicate routine refactoring of the networking stack.

Several Core contributors have offered a “Concept ACK” toward deprecating the protocol. In open-source Bitcoin Core development terminology, a “Concept ACK” indicates that a contributor agrees with the high-level goal of a proposal; it does not constitute a final vote, a code merge, or an immediate commitment to remove the feature.

The case for long-term emergency reserves On the other side of the issue, developers urging caution argue that node utility should not be judged exclusively by current traffic metrics. Contributor Jon Atack pointed out that automated CJDNS peer discovery was only integrated into Core in early 2025. Prior to that update, node operators had to manually configure peer addresses, a process that created a significant barrier to entry compared to single-click Tor or I2P setups.

Proponents argue that CJDNS’s low usage numbers stem from a lack of user awareness and limited integration in popular turn-key node software distributions, rather than a lack of underlying value. If major public anonymizing networks like Tor or I2P were to experience centralized blocking, infrastructure outages, or nation-state level filtering, alternative mesh protocols like CJDNS could provide a vital emergency fallback channel for maintaining peer connections.

Furthermore, Atack volunteered to personally maintain the CJDNS integration code, addressing concerns regarding developer overhead. Core contributors must now decide whether to preserve an alternative transport route for edge-case emergencies or streamline the codebase by removing low-usage network logic.

What a potential removal means for node operators If Bitcoin Core ultimately decides to remove native CJDNS integration in a future release, the software will simply stop managing CJDNS peer connections internally within the application tier. The change would not prevent operators from running CJDNS externally at the operating system level, nor would it alter how the broader Bitcoin network processes transactions.

For the vast majority of node operators who rely on standard IPv4, IPv6, Tor, or I2P connections, the removal of CJDNS would pass completely unnoticed. The ongoing discussion simply reflects Bitcoin Core’s rigorous engineering philosophy: every line of code must justify its existence through proven security and active utility.

This article is provided for informational purposes only and does not constitute investment advice.

Author

Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.

TLDR: Bitcoin digital energy frames Michael Saylor’s view of Bitcoin as scarce, transferable value. The phrase remains an investment metaphor, not a formal classification. Strategy held 840,447 BTC at a $75,385 average cost on Aug. 16. The position represented about 4% of Bitcoin’s maximum supply. Bitcoin near $77,175 valued Strategy Bitcoin holdings around $64.86 billion. That placed the treasury roughly $1.50 billion above cost. Strategy raised $333.7 million through MSTR sales and held a $4.80 billion reserve. It reported no Bitcoin trades during the week. Michael Saylor renewed his Bitcoin digital energy thesis on Aug. 23, linking digital scarcity with durable economic control. The Strategy executive chairman said Bitcoin converts economic value into a form tied securely to owners. His argument covers individuals, families, companies, machines, governments and public institutions. 

Meanwhile, Bitcoin traded near $77,175, lifting Strategy Bitcoin holdings above their total purchase cost. The company owned 840,447 BTC on Aug. 16, its latest regulatory filing showed. That position carried a $63.36 billion acquisition cost, including fees. Its estimated market value reached $64.86 billion Sunday, creating an unrealized gain near $1.50 billion at that price.

Bitcoin (BTC) Price Bitcoin Digital Energy Thesis Meets Strategy Treasury Math Saylor describes Bitcoin digital energy as portable value that owners can preserve and transfer through a decentralized network. The phrase serves as an investment metaphor, rather than an accounting, technical or legal classification. Bitcoin’s fixed issuance schedule supports his scarcity argument, while its settlement network moves value without one central operator.

Bitcoin digital energy carries market exposure. Bitcoin prices can change quickly, while Strategy must meet obligations in dollars. Salaries, interest expenses and preferred dividends continue regardless of daily cryptocurrency movements. Consequently, Strategy’s balance sheet combines a volatile treasury asset with conventional corporate liabilities.

Strategy’s Aug. 17 SEC filing placed its holdings at 840,447 BTC. That equals about 4% of Bitcoin’s 21 million maximum supply. The comparison includes coins that miners have not produced yet. Strategy paid an average $75,385 per coin, including fees and expenses.

Bitcoin’s most profound breakthrough is the ability to convert economic energy into digital form and bind it securely to a person, family, company, machine, or nation.

— Michael Saylor (@saylor) August 23, 2026

Market data placed Bitcoin near $77,175 on Aug. 23. Multiplying that price by Strategy Bitcoin holdings produces an estimated $64.86 billion value. The result sits roughly $1.50 billion above the reported acquisition cost. Still, that gap changes with every Bitcoin price movement.

The estimate does not represent distributable corporate profit. It excludes debt, taxes, operating costs and preferred dividend commitments. A decline below the average cost would also return the position to an unrealized loss. Therefore, Bitcoin digital energy remains closely tied to market pricing in Strategy’s corporate model.

Preferred Share Funding Shapes Strategy Capital Plans Strategy markets its capital platform under the Digital Credit name. Its products include STRC, STRF, STRK and STRD preferred shares. These instruments trade as conventional securities and do not operate as blockchain tokens. Investors also lack direct claims on identified coins within Strategy Bitcoin holdings.

STRC is variable-rate perpetual preferred stock listed on Nasdaq. Each share carries a $100 stated amount. Strategy’s board controls dividend declarations, while the dividend rate can change monthly. The company also warns that STRC may trade away from its stated amount.

The company repurchased 1.39 million STRC shares for $132.2 million between Aug. 10 and Aug. 16. It funded those purchases with proceeds from MSTR common-share sales. Strategy sold about 3.46 million MSTR shares and raised $333.7 million during the period.

STRC shares Management directed another $52.4 million toward STRC dividends. It added the remaining $149.1 million to its dollar reserve. That reserve reached $4.80 billion on Aug. 16. Strategy designed the pool to support preferred dividends and interest payments.

The company reported no Bitcoin purchases or sales during that week. Chief Executive Phong Le has linked renewed accumulation to STRC moving closer toward its $100 stated amount. Management has not announced a purchase date or binding schedule.

Upcoming SEC filings will show how Strategy allocates capital. The company can issue more MSTR shares, repurchase preferred stock or expand its Bitcoin position. Those decisions connect Saylor’s Bitcoin digital energy thesis with liquidity needs, shareholder dilution and financing costs. Strategy’s next filing will also reveal whether the $4.80 billion reserve changes and whether Bitcoin purchases restart.

On Friday, the 30th of January, 2026, U.S. President Donald Trump officially nominated former Federal Reserve governor Kevin Warsh to the post of Chair of the Federal Reserve.

Interestingly, Warsh had previously spoken favorably of Bitcoin [BTC] as a store of value and is considered pro-crypto in general. Regardless, the markets expected Warsh’s policy stance to be one of interest rate cuts as well as aggressive balance-sheet reduction.

Crypto markets had already shifted into a bearish regime and did not take Trump’s announcement favorably. Expectations of higher rates for longer led to a market rout.

Bitcoin fell by 7% from $84.6k to $78.7k. The wider crypto market recorded the highest liquidations for 2026, unsurpassed figures even now in August.

Source: CoinGlass This price slide saw $2.407 billion in long positions liquidated across the market, compared to $154.7 million in short positions. The expected difference in leadership from the previous chair, Jerome Powell, led to uncertainty and sell-offs in crypto.

Though the chair is only one vote among twelve in setting the Federal Reserve’s target interest rate, the post’s influence on the decision is heavy.

What is the Fed interest rate, and why does it matter to crypto? The Federal Open Market Committee (FOMC) is the branch of the Federal Reserve that sets the U.S. national monetary policy. It sets the interest rate and can decide to raise or lower the rates or hold the rates steady, as they have throughout 2026.

Raising rates is typically bearish for risk assets such as crypto, as it makes borrowing costs higher to cool down inflation. Rate cuts have the opposite effect, making capital “cheaper” to stimulate growth, which is usually bullish for crypto but can raise inflation over time.

The Fed can also use tools such as quantitative easing (QE) to buy assets to inject capital into the system. When COVID-19 struck, the U.S. slashed interest rates to near zero and ramped up QE, leading to a surge in risk appetite and helping fuel Bitcoin’s bull run.

The Fed can also choose quantitative tightening (QT) to reduce its balance sheet and withdraw liquidity. Rising inflation in 2022 saw the Fed decide to raise interest rates aggressively while also pursuing QT.

Vanishing liquidity, risk appetite, and the FTX implosion marked the depths of the previous Bitcoin bear market.

Bitcoin vs. interest rate decision days in 2026: Price trends As the chart on liquidations earlier showed, the liquidations following the January decision, which was followed by Kevin Warsh’s nomination, spanned the heaviest crypto liquidations seen so far in 2026.

Source: Federal Reserve Board The decision days so far in 2026 are shown above. The decision has been to maintain the interest rates between 3.50% and 3.75% for five consecutive times this year. The next meeting will be on the 15th-16th of September.

The data from the FedWatch Tool, at the time of writing, showed a 65.2% probability of another rate decision that opts to keep the rate at 3.50%-3.75%. There is a 34.8% chance of a rate hike to 3.75%-4.00%.

The crypto liquidations during each rate decision announcement have been around the $300 million-$500 million threshold, barring the January announcement, a day which saw nearly $1 billion wiped out in crypto derivatives markets.

Most of the liquidations were long, and the price action shows why.

Source: BTC/USDT on TradingView The Bitcoin price action on FOMC meeting days and the day after are highlighted in cyan on the 1-day price chart above. Of the five decision days so far, three (January, March, and June) have been clear bearish pivots.

The others were indecisive, such as July, or saw a bullish uptick, like the April decision.

The spot ETF flows in the 48 hours around the interest rate decision’s announcement have also been illuminating. January 28th-29th saw -$837.4 million (negative for outflows); March 18th-19th measured -$253.7 million; April 29th-30th was -$114.1 million; and June 17th-18th added up to -$172.9 million.

Only July 29th-30th showed net inflows totaling $265.2 million.

Expectations for the next decision Source: Santiment on X Crypto intelligence platform Santiment highlighted how the three previous rate decisions were essentially the same, but Bitcoin had reacted differently to each one.

It was Powell’s final meeting on the 29th of April that delivered a bullish reaction and a Bitcoin move that reached $82.5k in May.

This was due to his reassurances that softer liquidity conditions, which refer to tighter capital, cautious commercial banks, and reduced economic activity, would not result in over-tightening from the Fed that leads to a credit crunch.

Source: CryptoQuant In July, analyst Darkfost observed in a post on X that the 10-year Treasury note yield reached 4.7%, and the 30-year note yield was above 5.2%, a record not seen since 2007.

Interest rates were on hold, the longest pause since 2008. Long rates climbing higher meant that investors were losing confidence due to tightening monetary conditions.

The analyst concluded that investors in U.S. debt do not believe in its ability to control inflation and the deficit. Holding its debt is riskier, warranting higher returns.

Such tightening capital conditions do not bode well for a risk asset such as Bitcoin.

A shift in macro conditions will be needed to help catalyze the next bull run. Long-term investors can employ a wait-and-watch strategy in the meantime or even opt to buy Bitcoin in small quantities (dollar-cost averaging) as the bear market drags on.

Final Summary Bitcoin’s 2026 FOMC track record shows consistent selling pressure, with three of five rate decision days triggering bearish pivots and January’s Warsh nomination sparking $2.4B in liquidations. With rates likely to hold steady through September, Bitcoin may struggle to break out without a clear shift in liquidity conditions or a dovish signal from the Fed.

This week has been a rollercoaster ride for the cryptocurrency market. Bitcoin had its best week since 2023, surging by 23.47% from Monday to Friday. The world’s largest cryptocurrency climbed from roughly $62,800 to above $77,000, marking its strongest week in over three years.

Let’s dive into the top stories that shaped the crypto market this week.

Bitcoin’s Stellar WeekBitcoin’s impressive rally was fueled by two catalysts from Washington. The cryptocurrency’s significant gain marks its best performance since March 2023. The world’s largest cryptocurrency has spent most of 2026 watching other assets rally, but this week it took center stage.

Read the full article here.

Coinbase CEO’s Bullish PredictionBrian Armstrong, CEO of Coinbase Global Inc., believes that the year-long crypto spot trading bear market is nearing its end. Armstrong expressed optimism about the upcoming CLARITY Act vote, stating that he expects it to secure over 60 votes.

Read the full article here.

VanEck’s Bitcoin Price TargetMatthew Sigel, Head of Digital Asset Research at VanEck, reiterated his $100,000 Bitcoin price target for 2027. Sigel also suggested that a $500,000 price point by 2029 is plausible if the cycle “plays out as usual.”

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Read the full article here.

Dogecoin’s SurgeDogecoin experienced a surge as speculative momentum built across digital asset markets. The rally was primarily driven by President Donald Trump’s renewed call for federal regulatory reform and support for the CLARITY Act.

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Read the full article here.

Ethereum’s Potential RallyArthur Hayes, Chief Investment Officer of Maelstorm, suggested that Ethereum could hit $5,000 by the end of the year. Hayes cited market positioning and liquidity as the primary reasons for his bullish outlook.

Read the full article here.

Disclaimer: This content was produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Tether’s two Uruguay mining sites cost an estimated $120 million. A dispute with state utility UTE centered on how much electricity the sites could draw. UTE disconnected both facilities in July 2025 after bills went unpaid. Tether has continued pursuing Bitcoin mining elsewhere in South America. Tether’s attempt to establish Uruguay as a launchpad for a larger South American Bitcoin mining business ended with two abandoned facilities after a contractual dispute with state-owned electricity provider UTE. The sites, estimated by a person with direct knowledge to have cost about $120 million, lost power in July 2025, according to documents and interviews reviewed by Reuters, turning what began as a renewable-energy mining expansion into a costly example of how electricity contracts can determine the economics of industrial-scale Bitcoin production.

A Power Contract Became the Project’s Central Problem When Tether announced its Uruguay expansion in 2023, the country appeared well suited to the company’s mining ambitions. Uruguay offered political stability, a reliable electrical grid and a power system with substantial renewable generation.

The two facilities were built in the department of Florida, with a former contractor estimating investment of roughly $60 million in each site. Uruguay was intended to serve as a testing ground before Tether expanded further into countries including Brazil, Paraguay and Argentina.

Operations initially generated revenue, according to former contractors interviewed by Reuters. The problem emerged as electricity requirements increased.

Tether and UTE interpreted a critical part of their electricity agreement differently. Tether understood the contracted power figure as a minimum allocation that could eventually be expanded. UTE regarded it as the maximum amount of electricity available to Tether’s local entity, Microfin.

That distinction became increasingly important as the mines scaled. Bitcoin mining facilities need a large and predictable electricity supply because their economics depend heavily on keeping specialized machines operating continuously. According to Reuters, insufficient supply sometimes left the sites without enough electricity for days.

Key stages in the Uruguay project May 2023
Tether announces Bitcoin mining operations in Uruguay.

November 2024
The electricity supply dispute is documented by UTE.

May 2025
Microfin stops paying its electricity bills.

July 25, 2025
UTE disconnects electricity to the mining sites.

November 2025
Tether notifies authorities that operations will cease and most employees will be laid off.

Why Negotiations Failed Despite a Revised Electricity Deal The disagreement did not immediately end the project. UTE and Tether attempted to renegotiate the arrangement, and the utility’s board approved both a memorandum of understanding and revised contract documents.

The agreement was never completed.

According to minutes cited by Reuters, Tether representatives did not attend the planned signing. By that stage, Microfin had already stopped paying electricity bills and had informed UTE in June that it intended to terminate the contracts.

With the revised agreement unsigned and bills outstanding, UTE cut electricity to the facilities on July 25, 2025. Microfin subsequently settled its outstanding debt in December, UTE told Reuters.

The chronology matters because the shutdown was not simply the result of Uruguay lacking enough renewable electricity. The underlying problem was whether Tether could secure sufficient power under terms that made expanding its mining operation commercially workable.

Uruguay Exposed the Economics Behind Tether’s Mining Strategy Bitcoin miners effectively convert electricity and computing capacity into BTC. That makes the cost and reliability of power fundamental to profitability.

The April 2024 Bitcoin halving made that calculation harder by reducing the block subsidy from 6.25 BTC to 3.125 BTC. Unless higher Bitcoin prices, transaction fees or improved mining efficiency compensate for the reduction, miners earn fewer coins from the same amount of computational work.

Uruguay offered extensive renewable generation, but renewable electricity is not automatically cheap electricity.

Crypto mining specialist Nicolas Ribeiro told Reuters that Uruguay’s relatively high power costs make the country less competitive for Bitcoin mining, while its stable grid and internet infrastructure may be better suited to AI data centers. Mining operators have fewer reasons to remain in a particular jurisdiction when electricity becomes uneconomical because much of their computing hardware can be relocated.

That flexibility helps explain why the collapse of the Uruguay project has not ended Tether’s broader energy strategy.

Tether Has Already Shifted Mining Investment Elsewhere The failed project also needs to be viewed against the scale of Tether’s wider expansion.

CEO Paolo Ardoino said in June 2025 that Tether had invested more than $2 billion in energy and mining infrastructure across 15 sites in Uruguay, Paraguay and El Salvador, according to The Block. The company has pursued mining infrastructure as one component of a much broader investment portfolio.
Brazil has become one of the next areas of focus.

In July 2025, Tether and agricultural and renewable-energy producer Adecoagro signed a memorandum of understanding to explore using renewable electricity for Bitcoin mining. The proposed model centers on monetizing surplus electricity from Adecoagro’s renewable-energy portfolio rather than reproducing the same arrangement used in Uruguay.

Tether had previously acquired a controlling stake in Adecoagro, giving it a more direct connection to the underlying energy assets.

The distinction could prove significant. Greater control over energy generation may reduce some of the contractual dependency that affected the Uruguay sites, although it does not eliminate mining’s exposure to

Bitcoin prices, network difficulty, equipment efficiency and local electricity economics.

What Changes Next for Tether’s Bitcoin Mining Plans The Uruguay exit leaves Tether with a more fragmented South American mining strategy than originally envisioned. Instead of using one country as a regional testing ground and then replicating the model, the company is pursuing different energy arrangements across individual markets.

For the mining industry, the episode reinforces why headline renewable-energy capacity is not enough when evaluating potential jurisdictions. Large operators need contractual certainty over both electricity prices and how much power they can consume as facilities expand.

Tether’s next South American projects will therefore provide a clearer test of whether greater involvement in energy production can improve those economics. Its partnership with Adecoagro is particularly relevant because the companies plan to examine whether surplus renewable electricity can be converted into Bitcoin mining revenue, giving Tether a different operational model from the one that failed in Uruguay.

TRUMP, CRO, and WLD have dumped the most during the Sunday correction.

After gaining $15,000 in a few days, bitcoin was primed for a correction, and the asset has cooled off with a dip to $75,500, where it found some support.

Most altcoins are also slightly in the red on a daily scale. HYPE, though, continues to defy the odds and has charted a fresh all-time high of over $82.

BTC Slides Bitcoin struggled below $65,000 for weeks until Wednesday afternoon. Then, one US Treasury Department announcement sent shockwaves throughout the market, and BTC led the charge. The asset exploded to $70,000 within a few hours before the bulls took complete control of the market and initiated a few more legs up.

The culmination took place on Friday when the largest cryptocurrency spiked to almost $80,000 for the first time in over three months. However, after skyrocketing by 25% in less than 48 hours, BTC was due for a pullback.

At first, the bears pushed it south to $76,200, but bitcoin bounced off and tapped $79,000 once again on Saturday morning. It couldn’t keep climbing, though; it slipped to $77,000 later that day and dipped to $75,500 on Sunday morning amid reports that Wintermute has gone heavily on the short side.

Bitcoin has recovered around a grand since that local low and sits at around $76,500. Its market cap is close to $1.540 trillion on CG, while its dominance over the als has soared to just over 58%.

BTCUSD August 23. Source: TradingView HYPE Sees New Peak Ethereum dipped below $2,400 earlier today but has reclaimed that level as of now. XRP was rejected at $1.70 after a massive run, and now sits below $1.50. BNB is below $690 again, while CC has plummeted by over 5% daily, similar to XLM and SUI. BCH and ADA are down by nearly 3%.

HYPE managed to do something unthinkable for most other crypto assets, surging past $82 yesterday to hit a new all-time high. PUMP has rocketed by over 17% in the past 24 hours, followed by an 8% surge from ENA.

In contrast, TRUMP plunged by 33% from top to bottom as the team behind the token sent more coins to exchanges. CRO and WLD are down by over 7% each.

The cumulative market cap of all crypto assets has declined by approximately $100 billion from the local peak and is down to $2.650 trillion now. Nevertheless, the metric is up by $400 billion since Wednesday.

Cryptocurrency Market Overview August 23. Source: QuantifyCrypto Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Veteran trader Peter Brandt’s earlier forecast predicting a Bitcoin decline to between $58,000 and $62,000 has lost steam after the top cryptocurrency surged in recent days, rebounding far above the range he had previously highlighted as a likely downside target.

Bitcoin’s sharp reboundBrandt, an experienced commodities trader known for his chart analysis, stated in January that Bitcoin might fall toward the $58,000 to $62,000 range. He also noted at the time that the prediction could be off. The market, however, appears to have shifted direction decisively after a vigorous recovery.

Over the past week, Bitcoin saw a dramatic increase as traders responded to a surge in bond yields and the unveiling of a new fiscal consolidation initiative. The asset staged a five-day rally, climbing from $62,679 on August 17 to as high as $79,500 on August 21, before experiencing a minor pullback.

At last check, Bitcoin was trading at $76,569, posting a 0.84% daily decline but up by 21.56% over the week. The latest rally briefly lifted prices to levels last seen in May, testing the $80,000 threshold.

Short squeeze and market turnaroundThe rapid price surge was fueled in large part by a record short squeeze, forcing bearish traders to exit their positions and further accelerating gains. Rather than a broad rush of new bullish bets, the move appeared to be driven mostly by existing short sellers covering their trades.

Brandt’s $58,000–$62,000 target was shaped by market developments that followed the October 2025 flash crash, when Bitcoin experienced a record $20 billion in liquidations. His downside scenario did unfold temporarily, as Bitcoin touched a low of $57,717 on July 1 and traded sideways for several months before the recent turnaround.

Chart analysis and revised outlookIn explaining his earlier bearish view, Brandt pointed to technical chart patterns. He cited the formation of an inverted head and shoulders (H&S) with a delayed right shoulder, estimating that there was a 60/40 probability it would resolve to the downside. As the pattern completed, however, he shifted his stance, mentioning through a post on X that he “bought the breakout for better or worse.”

Brandt also drew attention to price “walls” in the market, highlighting their significance in identifying bottoms in previous bull cycles. He remarked, “Does anybody remember when I posted about Price Walls, a decades-old TA tool, at the BTC bottom in 2021? Well, we are here again.”

Brandt referenced a technical breakout after a period of sideways movement, noting his decision to reenter the market as the inverted H&S pattern completed—a technical indicator that shifts the outlook from bearish to bullish once confirmed.

Mini dictionary: Inverted head and shoulders (H&S), a technical analysis pattern signaling a potential trend reversal from bearish to bullish, with the right shoulder often indicating the final phase before a breakout to the upside.

DateBTC Price LowBTC Price HighEventJuly 1$57,717—Local BottomAugust 17$62,679—Start of RallyAugust 21—$79,500Five-day Rally PeakMay (previous)—$80,000Previous HighDisclaimer: 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.

Robert Kiyosaki, the author of “Rich Dad Poor Dad,” has once again urged investors to buy Bitcoin. 

He is confident that financially educated people are better positioned to protect their wealth from inflation and the erosion of the U.S. dollar’s purchasing power.

In a post on X, Kiyosaki claimed that the U.S. The Treasury's latest measures amounted to another round of quantitative easing, or “printing fake $.” 

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He argued that a weakening dollar would fuel inflation and punish savers who continue to hold cash.

“Don’t be a loser,” Kiyosaki wrote. 

He said investors who understand money and acquire assets that appreciate over time, including gold, silver, Bitcoin and some real estate and “get richer.” 

Kiyosaki has stated that the real cost of financial ignorance is not the money spent on education but “the money you do not make.”

These comments come amid renewed concerns over U.S. government debt and Treasury-market conditions. The Treasury announced in August that it planned to increase its repurchases of longer-dated government bonds to at least $4 billion per operation. 

The threat of monetary debasement Kiyosaki has long used the threat of monetary debasement and excessive government debt as a key argument for holding Bitcoin. 

In June, he argued that savers could be among the biggest losers in a system where governments and central banks expand the money supply.

A long list of failed predictions His belief in Bitcoin’s long-term potential  has also remained unusually strong.

In June 2024, Kiyosaki predicted that Bitcoin would reach $350,000 by August 25 of that year. 

The prediction did not materialize, but this did not stop Kiyosaki from raising his long-term targets. 

In November 2024, he said BTC could reach $500,000 in 2025.

Kiyosaki said he strongly believed Bitcoin could surpass $1 million by 2035, alongside forecasts of $30,000 gold and $3,000 silver. He later reiterated that a $1 million Bitcoin could become possible by 2030.

Critics point to his track record of making extremely bullish Bitcoin forecasts with shifting deadlines. His $350,000 target for August 2024, for example, was presented as a prediction rather than a guaranteed outcome.Later forecasts moved substantially higher (from $500,000 to $1 million).

13h35 ▪ 6 min read ▪ by Luc Jose A.

Summarize this article with:

In the last few hours, bitcoin has quickly jumped to $79,461 before stabilizing around $77,000. Indeed, this increase has raised investors’ attention around the decisive question: should one take advantage of this level to buy? Grayscale clearly gives a positive answer to this question. Thus Zach Pandl, head of research at the crypto asset manager, sees in the current market structure a strategic acquisition opportunity. His argument is based on three signals: the fundamental adoption of cryptos, bitcoin’s position in its market cycle, and the evolution of macroeconomic risks. These factors could therefore reshape bitcoin’s outlook.

In brief Bitcoin stabilizes around $77,000 after reaching a recent peak at $79,461. The manager identifies three favorable factors for a strategic purchase for long-term investors. The underlying trend remains driven by US debt while the 10-month bear market is nearing its historic end. Federal Reserve’s rate policy and possible profit-taking require maintaining a cautious approach. The current alignment offers an attractive risk-return profile, though it does not guarantee an absolute bottom. Grayscale sees a favorable buying window despite market hesitations While bitcoin briefly reached $79,500, Zach Pandl just published a study this Friday, August 21, in which he immediately refocuses the question about acquisition timing around long-term fundamentals. He recalls Grayscale’s cautious stance.

In this regard, he stated : “we believe these three combined factors indicate that current prices could offer a favorable entry point for investors with a long-term horizon. The structural adoption momentum remains intact, we are well advanced in the bear market and the macroeconomic outlook appears generally favorable. Time will tell, of course”.

Therefore, the crypto asset manager usually discourages trying to precisely predict tops or bottoms. Grayscale then recommends including bitcoin in a diversified portfolio. To illustrate this initial observation, the company indicates that the trajectory of structural adoption remains fully intact despite the decline observed since the historic peak of October 2025.

Grayscale continues to analyze bitcoin’s positioning in its repetitive growth and price tightening cycle, beyond the long-term adoption trajectory. Alongside stocks and bonds, the top crypto produces no cash flows, dividends, or interest payments. Thus, traditional valuation methods are simply inapplicable in this context.

Similarly, this situation directs the examination toward cycle analysis. For Grayscale, the current bear market has reached a duration of ten months. Reviewing the crypto’s historical data, the four previous bear cycles have an average and median length between 11 and 12 months. Such statistical retracement reveals that the market has undergone a prolonged bearish phase. However, this phase is less deep than other past cycles, which suggests that most of the corrective momentum is now integrated into its final completion phase.

To support its analysis on the strength of long-term structural adoption, Grayscale relies on three essential factors :

The explosion of public deficits : US public debt reaches 40.03 trillion dollars (including 32.28 trillion held by the public as of August 20), which mechanically fuels demand for assets with strictly limited monetary mass ; Banking integration of blockchain : the growing use of this technology within traditional financial services strengthens the overall network infrastructure ; Generational shifts : the evolution of behavior among new investors deeply reconfigures the classic rules of portfolio allocation. The Federal Reserve and market metrics under high surveillance The third factor determined by the asset manager is related to the general macroeconomic environment. It pays particular attention to real interest rates as well as the direction chosen by the US Federal Reserve. During its July meeting, the Federal Open Market Committee (FOMC) chose to maintain the federal funds rate in the range between 3.5% and 3.75%, while three members of this committee declared in favor of an additional 0.25 percentage point increase.

Such a contradiction at the central bank level is a critical element for the majority of investors. This is why Grayscale openly highlighted that a return to tightening monetary policy and rate hikes would expose bitcoin to further downward pressures.

Summarizing all these factors in a statement, Zach Pandl reiterated : “investors seeking to determine if the time has come to buy bitcoin must consider structural adoption trends, the state of the cycle, and macroeconomic risks. In our view, the combination of these three factors makes the current period a favorable entry point”.

The current rebound that pushed bitcoin’s price up to $79,461 this Friday, August 21 before a slight drop toward the $77,000 zone is justified by a conjunction of many institutional and technical factors. In this perspective, the careful study of flows shows that it is a movement fueled by solid acquisitions, short position covers, and massive accumulation of inflows on ETFs.

However, analysts warn about this bullish dynamic. The explosion of the price to high levels brings a significant portion of tokens in circulation into a potential capital gain situation. Thus, the transfer of these coins to exchanges by investors wishing to realize gains would generate renewed selling pressure, slowing the short-term upward momentum.

A strategic entry point subject to long-term trade-offs This diagnosis proposed by Grayscale should not be analyzed as an absolute guarantee of a definitive peak already reached. It should be seen as a map of a potential opportunity window for cautious investors.

By crossing the time maturity of the bear cycle, the resilience of institutional adoption channels, and a relative stability of interest rates, the market offers a considerably attractive risk-return profile.

However, the materialization of a constant and durable rally would depend on buyers’ ability to absorb immediate profit-taking while keeping a close eye on the Federal Reserve’s future orientations.

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Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Bitcoin traded near $76,600 on Aug. 23 after reaching $79,500 two days earlier, prompting claims that veteran trader Peter Brandt’s 58,000–62,000 forecast was wrong.

Summary

Brandt forecast Bitcoin would reach 58,000–62,000, and prices entered that range months later during 2026. Bitcoin fell to approximately $57,717 on July 1 before rebounding toward $79,500 by August 21. Brandt abandoned his later bearish outlook after an inverse head-and-shoulders pattern completed, buying the breakout. U.S. spot Bitcoin ETFs drew $1.92 billion across five sessions during the latest weekly rally. Treasury will double long-dated buybacks to at least $4 billion per operation beginning September 9. The historical price record shows otherwise. Brandt issued the forecast in January when Bitcoin traded near $92,400. Bitcoin later entered his stated range and fell to approximately $57,717 on July 1. It subsequently spent weeks near or slightly above the target zone before beginning its latest recovery.

The rally therefore does not invalidate the completed forecast. It shows that market conditions changed after Bitcoin reached the area Brandt identified.

Bitcoin reached Brandt’s target months after his call Brandt wrote on Jan. 19 that “$58K to $62K is where I think it is going.” He reportedly expected the move within two weeks, although he also acknowledged that his assessment could be wrong.

Bitcoin did not meet that short timetable. However, the price eventually reached the forecast range during the 2026 downturn. Fortune recorded Bitcoin at $58,278 on July 1, while other market data showed an intraday low near $57,717.

The difference between price and timing matters when assessing the forecast. Brandt correctly identified a later trading zone, but the projected two-week horizon was too short. Calling the entire forecast wrong because Bitcoin now trades above $76,000 ignores the intervening decline.

As crypto.news previously reported, Brandt’s January downside target was later reached before he began identifying evidence of a possible market bottom.

Brandt changed position after Bitcoin completed its pattern Brandt did not remain committed to the bearish position after the chart structure changed. He said BTC’s prolonged inverse head-and-shoulders pattern initially had a 60% probability of resolving downward because the wider trend remained weak.

The completion of the pattern changed his view. Brandt said he “bought the breakout for better or worse” after BTC moved above the neckline. The quotation reflects a trading decision, not a guarantee that the rally will continue.

His updated position illustrates how technical traders often work. A forecast applies while its underlying pattern and price conditions remain valid. A confirmed breakout can invalidate the next bearish setup even when an earlier downside target was achieved.

Brandt also pointed to what he calls “price walls,” a decades-old charting method that identifies areas where tightly grouped price bars may later act as support or resistance. He did not provide a guaranteed upside target in the latest post.

Yup, you would think that someone who claims to be an investment company would not be a run-of-the-mill low class troll

— The Factor Report (@PeterLBrandt) August 23, 2026 Short liquidations and ETF demand accelerated Bitcoin’s rally The crypto rose from approximately $62,679 on Aug. 17 to $79,500 on Aug. 21, a gain of nearly 27% from the weekly low. It later retreated toward $76,600 but remained up more than 20% over seven days.

Forced short covering helped drive the early part of the move. Traders holding leveraged bearish positions had to buy BTC when prices crossed their liquidation levels, adding demand during the breakout.

However, the rally was not based entirely on derivatives. U.S. spot Bitcoin exchange-traded funds recorded $606 million in net inflows on Aug. 20, following approximately $517 million the previous day. Five-session inflows reached about $1.92 billion.

In related coverage, crypto.news reported that the combination of short liquidations and spot ETF demand produced one of the market’s largest squeeze events since 2021.

The ETF inflows provide evidence of spot demand alongside forced derivatives buying. Continued inflows would offer stronger support for the rally than short covering alone.

Treasury action changed the macro backdrop The reversal also followed a change in U.S. bond-market conditions. On Aug. 19, the U.S. Treasury announced that it would at least double the maximum size of liquidity-support buybacks for longer-dated government securities.

The current maximum of $2 billion per operation will increase to at least $4 billion beginning Sept. 9, according to the Treasury. The operations cover the 10-to-20-year and 20-to-30-year sectors.

Long-term Treasury yields declined after the announcement, while the U.S. dollar weakened. Bitcoin, gold and other scarce assets rallied as traders responded to the change in liquidity conditions.

Bitcoin’s next test is whether it can reclaim and hold $79,500 before challenging $80,000. Failure to maintain the breakout could return attention to the low-$70,000 region and the completed pattern’s neckline.

Brandt’s January price target was reached, but his original timing was not. His later bearish view also changed after the market produced a confirmed bullish breakout. Those are separate forecasts and should not be combined into a claim that the $58,000 call failed.

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

Bitcoin’s push to $80,000 has shifted from an explosive upward momentum to a cautious contraction phase. After reaching $79,473, the price fell to $75,568 as the upper wick confirmed strong selling near the psychological barrier.

However, Bitcoin did not fall back down to its previous low of $71,000. Instead, Bitcoin [BTC] is currently trading around $76,248, which is in the upper part of the expansion range.

Source: BTC/USD on TradingView This positioning shows that buyers are still absorbing supply despite weaker short-term momentum. The RSI reading of 68.73 confirms that there is less pressure from being overbought.

Moreover, the MACD indicator has not yet crossed below zero, which continues to show upward momentum. However, since it is narrowing down, it may be indicating a slower increase in price.

In conclusion, at $75,568, the rally support point becomes the anchor point for rally support. Therefore, if the price can reach $77,015, then there will be renewed upward momentum toward the peak of $79,473.

STHs challenge Bitcoin’s rally near $80K The rejection near $80,000 coincided with a sharp rise in Bitcoin sent to exchanges. The three-day 23% price increase resulted in 53,000 coins entering exchanges. This increase represents profit-taking along with the price.

Binance received 17,800 BTC, its largest Short-Term Holder (STH) inflow since February. Notably, every transferred coin came from wallets holding BTC for less than one day. Simply, this means that there was no long-term holder involvement.

Long-Term Holders (LTH) sent nothing, separating speculative turnover from broader distribution.

Source: CryptoQuant At the same time, the Binance Spot Delta was rapidly declining towards -$11.6 billion while the price was rising. This delta deterioration shows why the rally could not hold.

Therefore, the rally remains liquid but structurally narrow, with short-term capital driving volatility rather than committed accumulation beneath price strength.

Bitcoin ETF demand offsets spot selling That sell-heavy Binance activity did not extend across every source of spot demand. For instance, in the five days between the 17th and the 21st of August, U.S. Bitcoin ETFs saw $1.92 billion in capital flow into them as investors continued to purchase them.

Daily demand strengthened from $297.56 million to $606.29 million before easing to $307.45 million. Meanwhile, cumulative inflows climbed from $52.09 billion to $53.71 billion, while traded value peaked at $6.89 billion.

Source: CryptoQuant This creates a more fragmented spot market structure than what is depicted by Binance Delta’s aggressive seller flow alone.

Therefore, Bitcoin’s rally lacked broad exchange buying, but it was not entirely detached from spot participation. Hence, continued and sustained EFT inflows will be important to maintain support for the current rally.

Final Summary Bitcoin fell from $79,473 to $75,568 as short-term selling intensified. Still, holding support keeps $80,000 within reach. BTC ETFs absorbed $1.92 billion despite weak Binance demand; sustained inflows remain critical for extending the rally.

Bitcoin is trading at $77,129.12, up 22.8% over the past week, as former Coinbase Head of Institutional Research David Duong said he now expects the token to cross $100,000 before the end of the year.

Speaking on the Milk Road Show, Duong said his outlook has moved higher in recent weeks. He said he had previously expected Bitcoin to consolidate around the $85,000 to $90,000 range, an area where trading volume had concentrated for a period, but said a closer read of the macro environment pushed his forecast into six-figure territory. 

Why Duong Sees a Stronger Setup Into Q4

Duong pointed to a structural shift in who is buying Bitcoin. He said the investor base has moved away from being predominantly retail-driven toward exchange-traded fund flows, partly due to lower costs and reduced custody concerns following a recent self-custody security incident. 

He said these flows can outweigh the traditional interest rate narrative for extended stretches, and expects that dynamic to strengthen heading into the end of the third quarter and start of the fourth.

Clarity Act as a Wildcard

The Senate procedural vote on the Clarity Act, rescheduled for September 15, was also raised as a potential catalyst. Duong said the market is pricing roughly 20% odds of the bill passing, calling the setup “one-sided.” 

He said a surprise passage could act as a significant positive catalyst, while a failure to pass would likely have limited market impact given how low expectations already are. He added that regulatory progress does not depend solely on the bill, pointing to ongoing rulemaking efforts at both the CFTC and SEC as supportive factors regardless of the vote’s outcome.

Technical Confirmation Still Pending

Duong said a sustained move by Bitcoin above its recent range highs, in the $65,000 to $70,000 area, on stronger trading volume would serve as technical confirmation of a new trading regime, separate from any single calendar date. He described his overall timing view as driven more by capital flows and macro conditions than by any fixed event.

Story Ends Here

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Key Highlights Nvidia’s Wednesday earnings report draws intense scrutiny after shares declined following its previous three quarterly announcements Bitcoin surged beyond $70,000 for the first time since May’s end, fueled by regulatory optimism and Treasury market interventions Wednesday brings the PCE inflation report, a critical metric that may shape the Federal Reserve’s September policy trajectory Treasury bond repurchase initiatives are generating policy conflicts with the Fed’s preference for elevated yields Major earnings releases this week feature CrowdStrike, Salesforce, Dollar General, Ulta Beauty, and Marvell Technology All eyes turn to Nvidia’s second-quarter earnings announcement scheduled for Wednesday. Market participants remain cautious following a pattern where shares declined after each of the company’s previous three earnings disclosures.

During its most recent quarterly report, Nvidia surpassed analyst projections. The company recorded an 85% year-over-year revenue increase, while data center segment sales approached 100% growth. CEO Jensen Huang characterized the demand environment as having “gone parabolic.”

Recent months have been eventful for the chipmaker. Huang unveiled a new processor architecture specifically engineered for on-device AI agents. The company has also advanced its chip distribution efforts within China and secured multiple agreements related to AI data center infrastructure funding.

The broader implications are substantial. Wedbush analysis indicates that for every dollar Nvidia generates in revenue, the wider technology ecosystem experiences $8 to $10 in downstream spending.

In a research note released Friday, HSBC analyst Frank Lee proposed that Nvidia’s strategic evolution might center on establishing dominance in open-source AI contributions, potentially expanding its reach to encompass millions of independent developers and government entities worldwide.

Bitcoin Surges Beyond $70,000 Threshold Bitcoin reclaimed the $70,000 level last week, marking its first appearance above this price point since the final days of May. This upward movement followed an extended period of range-bound price action.

Multiple catalysts contributed to the rally. President Trump intensified advocacy for cryptocurrency regulatory frameworks. Additionally, the Treasury Department revealed plans to expand acquisitions of longer-dated government securities, triggering positive cryptocurrency price momentum.

Market attention also focused on the US national debt exceeding $40 trillion, a development that traditionally supports Bitcoin valuations as investors seek alternative store-of-value assets.

Gautam Chhugani, a strategist at Bernstein, noted Bitcoin’s historical positive correlation with liquidity expansion cycles. The sustainability of this rally trajectory, however, remains uncertain.

Federal Reserve and Treasury Department Policy Divergence Last week’s Treasury bond repurchase program announcement caught markets off guard and is generating tension with Federal Reserve objectives. Fed Chair Kevin Warsh has advocated for elevated yield levels as a mechanism to implement tightening conditions without adjusting the policy rate. The Treasury’s buyback strategy operates counter to this approach, applying downward pressure on yields.

“We have the Fed and the Treasury basically working in sort of opposite directions,” said Wil Stith, senior bond portfolio manager at Wilmington Trust.

The 30-year Treasury yield reached heights unseen since 2007 before the buyback program disclosure temporarily reversed its trajectory.

BRBREAKING: 🇺🇸 The US 30 year yield has fully erased Treasury buyback announcement crash and is back at 5.282%.

The Treasury announced it would double its bond buybacks and the yield crashed to 5.18% within an hour. That entire drop has now been reversed in less than 48 hours.… pic.twitter.com/Ppv7FAuqSn

— Bull Theory (@BullTheoryio) August 21, 2026

Wednesday delivers the PCE price index, representing the Federal Reserve’s favored inflation gauge. The June reading showed a 3.7% year-over-year increase. Should the forthcoming data exceed expectations, it could strengthen the case for a September rate increase.

Source: Forex Factory Fed Chair Warsh is scheduled to deliver remarks at Friday’s Jackson Hole Symposium, potentially providing additional insight into the central bank’s policy trajectory.

This week’s earnings calendar also includes major retailers such as Dollar General, Dollar Tree, Gap, and Ulta Beauty, alongside Marvell Technology, offering valuable perspectives on consumer health and AI semiconductor demand trends.

Meme coin CYBERLEEK, issued by the GTA6 hacker, surged over 14 times in a single day, briefly hitting a $25 million market cap.

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Nearly $100 million in longs were wrecked in the past hour.

Bitcoin’s price suddenly dipped to $75,500 after it failed to remain above $77,000 during the weekend. Most altcoins have followed suit, including the largest ones, which performed a lot better on Friday and Saturday.

This volatility, untypical for the weekend, came amid reports that one of the most prominent market makers, Wintermute, had gone short on a few fronts.

At first, Onchain Lens noted that the company sent nearly $60 million in BTC and SOL to Binance and Coinbase, likely intending to sell. In addition, the analytics resource said Wintermute has built up a massive futures position on Hyperliquid.

Although current on-chain data shows that the company has a $13.85 million long position, the lion’s share of this leveraged trade is shorting the market – $146.19 million.

WINTERMUTE IS HEAVILY SHORT 🐻

Wintermute currently holds $160.03M in open positions on Hyperliquid, with $146.19M short and just $13.85M long.

The positions are sitting at a combined unrealized loss of $3.66M, while earning $2.14M in funding.

Despite this, Wintermute remains… pic.twitter.com/fOYjGCyEpz

— Onchain Lens (@OnchainLens) August 22, 2026

Bitcoin’s price, which had one of its most impressive weeks in years, surging from $64,000 to almost $80,000 in less than 48 hours, reacted with a dip on Sunday morning. The asset had calmed at over $77,000 but slipped by over a grand and a half to $75,500. It found some support there, and now sits above $76,000, but it’s still 2% down on the day.

Many altcoins have posted more painful losses. ETH has dropped by 5% to well below $2,400, while XRP is down by 6.5%. Ripple’s token was rejected at $1.70 on Friday evening and Saturday morning, and is now back below $1.50.

You may also like: Bitcoin’s Rally to $80K Sends Investor Greed to Highest Level Since the October 2025 Crash Bitcoin and Gold Are Surging Together: The ‘Debasement Trade’ Is Back What Sent Bitcoin Flying Above $71,000? 5 Factors Behind the Surge CoinGlass data shows that almost $100 million in logs were wrecked in the past hour, with BTC and ETH holding the same share of around $41.5 million each. On a daily scale, the total liquidations top $350 million, with more than 90,000 traders getting wrecked, which is a lot for a weekend.

This Sunday correction came after a few signals suggested that bitcoin is due for a pullback after gaining $15,000 in days.

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