Track market-moving stories before they get noisy

WSJ: Bitcoin Jumps While the S&P Heads for Weekly Loss

12h35 ▪ 4 min read ▪ by Fenelon L.

Summarize this article with:

Bitcoin briefly exceeded $79,500 on Friday, pushing its market capitalization above $1.5 trillion. Behind this acceleration, American Bitcoin and Ether ETFs have just recorded a second day of strong inflows, with more than $800 million injected in the single session on August 20.

In brief Bitcoin briefly reached $79,500 on Friday before dropping back below $78,000. Its market capitalization surpassed the $1.5 trillion threshold. Bitcoin and Ether ETFs attracted $606 million and $221 million respectively on August 20. Bitcoin surpasses $79,500 Bitcoin’s rise accelerated again on Friday. After breaking through $69,000 on Wednesday, then exceeding $72,000 on Thursday, the leading crypto briefly touched $79,500.

The movement then lost a bit of speed, with BTC falling back below $78,000. Nevertheless, it retained a 24-hour gain of over 6% and had gained more than $15,000 in a week.

This surge also allowed Bitcoin’s market capitalization to exceed $1.5 trillion. A symbolic threshold for an asset that was still trading below $64,000 early in the week.

The speed of the rebound remains impressive. Bitcoin now gains more than 20% in a few days, even if it is still well below its all-time high.

More than $800 million flow into ETFs The rally is not only based on liquidations of short positions. Flows to American ETFs also show a marked return of demand.

On August 20, the Bitcoin spot ETFs recorded inflows of $606 million, compared to $517 million the previous day.

Ether ETFs, meanwhile, captured $221 million. This brings combined inflows across the two categories to $827 million in a single session.

The change in pace is notable. On August 18, Bitcoin funds had attracted only $189 million, with purchases still largely concentrated on BlackRock’s IBIT.

The movement has since broadened. Products linked to XRP recorded inflows of $13 million, while those dedicated to Solana attracted $15 million.

According to data reported by CoinDesk, this second consecutive day of substantial flows strengthens the hypothesis of institutional demand behind the rise.

A rally no longer based only on a short squeeze The start of the rebound was largely supported by liquidations of short positions. The move from below $64,000 to above $72,000 in a few days forced many bearish traders to buy back their positions, mechanically amplifying the rise.

But the strong inflows recorded by Bitcoin ETFs partly change the interpretation. Two consecutive sessions of significant flows show that new capital is now supporting the movement.

Caution remains advisable, however. After briefly touching $79,500, Bitcoin quickly fell back below $78,000, a sign that profit-taking is already beginning to appear.

The next sessions will therefore be decisive. If ETF flows remain strong, the market will have an additional argument in favor of a more sustained rebound. Otherwise, the rise could lose momentum.

The available supply will also need to be monitored. Some 28,000 BTC recently returned to exchanges, which could increase selling pressure. Nevertheless, Bitcoin has crossed two major thresholds: $79,500 and $1.5 trillion in market capitalization. The question now is whether institutional buying can support this new level.

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Fenelon L.

Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.

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.

Table of contents

Three days ago Bitcoin sat at $64,400 and this column was writing about how quietly it had held its range. Today it trades at $77,580, up 13.2% in twenty four hours, and Ethereum is at $2,388 after clearing the $2,000 wall this site had been tracking since July. Ethena is up 50%, Pump.fun 19.8%, Solana 8.1%. When a market moves this fast, the explanations multiply faster than the price, so here are the three that are actually supported by evidence, in order of how much they matter.

One: the US Treasury quietly changed the liquidity picture This is the driver most crypto coverage is underweighting, and it has nothing to do with crypto.

The US Treasury announced it will double its long-dated bond buybacks, from $2 billion to at least $4 billion per operation, beginning September 9. Long-term yields fell sharply on the news, with Secretary Bessent signalling further willingness to intervene at the long end.

Why this reaches Bitcoin: when the government buys back its own long-term debt, it injects cash into the financial system and pushes down the yield on the safest long-duration asset available. Every risk asset is priced against that yield. When the risk-free return falls, the relative case for holding volatile assets improves, and capital that was sitting in bonds starts looking elsewhere. Several market participants have described the intervention as functionally similar to quantitative easing without the label.

James Lavish of the Bitcoin Opportunity Fund put the ordering plainly, arguing Bitcoin is surging because the Treasury signalled it will do what it takes to keep long-end yields from rising, and explicitly disputing coverage that credited the White House meeting instead. That is one participant’s reading rather than settled fact, but the timing supports it: the move began before the political headlines landed.

Two: the institutional bid came back, on the record US spot Bitcoin ETFs took in $517 million on August 19, their strongest single day since early May, and $606 million on August 20, with Ethereum funds adding $221 million on the same day. For context, July’s entire net intake across those products was roughly $172 million.

That matters because it is verifiable spot demand rather than a story. Daily flow tables are published openly at Farside Investors and SoSoValue, which means anyone can check whether this continues rather than taking a headline’s word for it.

The honest caveat belongs right here. One large day confirms a breakout, two suggest a pattern, and the difference between a genuine institutional return and a brief rebalancing shows up in the third and fourth days, not the first. Watch the tables, not the excitement.

Three: the shorts got run over, and that is not the same as buying Bearish positions lost a record $2.7 billion during the surge, with more than $1 billion in short positions liquidated inside a single hour.

This is the part that requires care. Liquidations are forced buying: traders positioned against the market are automatically closed out, and closing a short means purchasing the asset. That purchasing is real and it moves price violently, but it is mechanical rather than voluntary. Nobody in that $2.7 billion decided Bitcoin was worth more. They were removed from their position by an exchange.

A significant share of any move this fast is that mechanism, and it has a natural limit: it stops when the shorts are gone. If you want one number to understand why a market can climb 13% in a day and then stall for a week, it is that one. The token unlock guide on this site makes a similar point about forced versus voluntary flows in a different context; the principle transfers.

What about the political headlines? President Trump used an August 19 White House meeting with crypto executives and regulators to press Congress to pass a version of the CLARITY Act, the bill that would define whether digital assets are regulated as securities or commodities. It remains stalled in the Senate with a procedural vote scheduled for September, and its status is trackable directly on congress.gov rather than through commentary.

The market clearly liked it. But regulatory optimism has moved crypto prices many times before without legislation ever arriving, and a bill that is stalled is a bill that has not passed. Treat this as sentiment support rather than a structural change, at least until the September vote produces something.

The part nobody wants in the article Bitcoin at $77,580 is still roughly 38% below its all-time high of $126,198, set on October 6, 2025. A 13% day feels like a regime change from inside it, and the chart says the market is recovering ground it already held, not breaking new ground.

Technical readings also show the move stretched: the relative strength index has been running near 78 on hourly charts, which is squarely in overbought territory, with analysts flagging the $73,000 to $77,800 zone as the likely consolidation range. Overbought does not mean a top. It means the easy part of the move has probably happened.

And the structure underneath is honest about what would break it. Bitcoin reclaimed and held $70,000 for the first time since early June. Below that, the old $64,000 level, which this site tracked as a floor through July and August, comes back into play if the ETF flows reverse quickly.

So is crypto back? The honest answer is that three genuine things happened at once: a macro liquidity shift, a verified return of institutional buying, and a violent unwind of bearish positioning. The first two can compound. The third one cannot; it is a one-time event that has now largely spent itself.

What to watch over the next week is simple and specific. Whether ETF inflows continue at this scale, whether Bitcoin accepts above $70,000 the way it accepted above $64,000 in July, and whether the Treasury follows through on September 9. Those three answers will tell you whether this was the start of something or the best relief rally of the year, and none of them require a prediction to observe.

This article is for information only and is not investment advice. Crypto assets are extremely volatile and you can lose your entire stake. Always do your own research.

Crypto Price Analysis August-21: ETH, XRP, ADA, BNB, HYPE

Spot bitcoin exchange-traded funds (ETFs) in the United States attracted $606 million in new investments on August 20, up from $517 million just a day earlier, according to figures from analytics firm SoSoValue. Ether ETFs also saw strong demand, gathering $221 million on the same day, reflecting a surge of institutional interest following bitcoin’s recent price breakout.

Institutional inflows broaden across crypto fundsEvery major cryptocurrency-focused ETF listed registered net inflows, not just bitcoin and ether. Funds centered on XRP received $13 million, while Solana-focused ETFs picked up $15 million in new investments. The consecutive daily increase in flows suggests that institutional buyers are entering the market rather than simply responding to short-term trading dynamics.

These sizable inflows came on the heels of a sharp rally in bitcoin, which climbed from under $64,000 earlier in the week and surpassed the $72,000 level on Thursday. Observers speculated whether the rally was the result of new buying or driven mainly by the forced liquidation of short positions.

The pattern of accelerating daily inflows across all major crypto ETFs points to active institutional participation rather than just technical short pressure behind bitcoin’s price breakout.

Bitcoin price maintains strength after breakoutFollowing Thursday’s surge, bitcoin traded close to $75,500 on Friday, well above its earlier levels this week. The token posted one of its strongest multi-day rally stretches of the year, pushing above its previous resistance with momentum fueled by ETF demand.

However, rapid price rises can present near-term risks. Since the start of the week, bitcoin gained over $8,000, a pace that has historically led to pullbacks as the rally cools. Market analysts say watching ETF flows will be key to determining whether this breakout sustains or becomes a temporary spike.

If inflows into spot bitcoin ETFs remain strong in the coming week, market observers believe the cryptocurrency’s move above $72,000 could have a lasting foundation. However, a reduction in ETF demand may indicate the rally could lose steam and revert some of its recent gains.

AssetETF inflow (Aug. 20)Bitcoin$606 millionEther$221 millionXRP$13 millionSolana$15 millionSoSoValue, responsible for providing the ETF inflow data cited, is a digital asset analytics platform specializing in cryptocurrency fund movements. Their daily reports are widely used by analysts and institutional investors tracking the broader crypto investment landscape.

Mini dictionary: SoSoValue, a digital asset analytics provider that tracks and reports cryptocurrency ETF flows and other market metrics for institutional and retail investors.

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.

Solana price climbed 5% to $91.28 on Friday, extending its four-day advance to roughly 21% in active trading. SOL is back above $90 for the first time in over 3 months.

The gain came after the strongest net inflows into U.S. spot Solana ETFs in three weeks, of 14.59 million.

SOL was supported by ETF demand because enhancing market liquidity prompted investors to make more exposure to major cryptocurrencies. Crypto market sentiment enters greed territory as the Fear & Greed Index rises above 72, its highest level since July 2025.

CMC data Broader Crypto Rally Strengthens Solana Price Momentum The wider crypto market rose 6.8% to $2.6 trillion overall during the same period.

Bitcoin price increased by 8.49% to hit a high of $79,500, and Ethereum price retained its position of above $2,400 after its recent surge.

The mood changed when the U.S. Treasury doubled long-term bond buybacks, which would inject liquidity.

🚀 Bitcoin hit $79,500, up nearly 10% in 24h after the US Treasury doubled its long-term bond buybacks and Trump rallied crypto execs at the White House to push the CLARITY Act.

Notably, tokenized assets led trading volume growth even though traditional markets were quiet last… pic.twitter.com/4J5RZS9LBk

— CryptoRank.io (@CryptoRank_io) August 21, 2026

The resurgence in the CLARITY Act also intensified hopes of more transparent regulations on cryptocurrency in the United States.

Favorable trends within the ecosystem of Solana offered more fuel, and the token outperformed some huge competitors in the market.

Nevertheless, the future step of SOL can be conditional upon further demand of ETF and the ability of the wider market to maintain its progress.

US Spot Solana ETFs Post Largest Daily Inflow in Three Weeks U.S. spot Solana ETFs had their largest net inflows in three weeks, which was $14.59 million inflows yesterday.

🚨JUST IN: U.S. spot Solana ETFs recorded $14.59 million in net inflows yesterday, their largest single day inflow in three weeks.

Track here: https://t.co/8nZJxjM9rd pic.twitter.com/DTVYZzf9or

— SolanaFloor (@SolanaFloor) August 21, 2026

Grayscale’s GSOL led the products with $7.14 million, while Bitwise’s BSOL attracted $6.57 million. The VSOL by VanEck contributed almost $877,630 and the other listed funds had no new inflows.

Sosovalue data The funds recorded a day trading value of $75.52 million, which is an indication of an increased activity in Solana investment products. The total net assets stood at $1.06 billion or 2.08% of the market capitalization of Solana. Total inflows since launch are now almost $1.18 billion of funds available in the United States.

Solana Price Outlook: How High Can SOL Go? The latest SOL Price surged to $90.98, extending its strong four-hour advance within a rising channel.

The Relative Strength Index reached 89.62, throwing SOL into the overbought region. 

The Chaikin Money Flow was also positive at 0.28, which showed that there was a high inflow of capital. Further increase in demand might lead to another rise.

Source: SOL/USDT 4-hour chart: TradingView Solana price reached $93.39 during the session before retreating from its intraday peak. 

Further action might drive the future Solana price outlook to reach the next significant resistance zone of $95. A breakout will then be confirmed, which can open the way to $100.

Stacks [STX] is among the biggest altcoin gainers, thanks to its correlation with Bitcoin [BTC] as its Layer 2 (L2) solution. STX is up by more than 18% in the past 24 hours, as its token trading volume increased by 145%.

Meanwhile, Bitcoin is trading at $77,000, four days after it established a bottom just above the $62,670 zone. As such, this strength has been spilled over to the whole BTC ecosystem.

Technical indicators show that the market structure of Stacks is shifting, though it remains below a very KEY zone at $0.26. Can bulls push STX back above the premium zone?

STX crypto price prediction in the short term The 4-hour chart shows the altcoin has broken from contraction, as indicated by the overlaid Bollinger Bands (BBs). This BB contraction, which often hints at accumulation, lasted between late July and the 19th of August.

With the BBs expanding, STX prices traded above the upper band, which indicated massive volatility.

Apart from the breakout, Open Interest (OI) was rising. From a daily perspective, the metric surged by double-digits across multiple exchanges like Binance, OKX, Bybit, and KuCoin, as per CoinGlass.

Source: STX/USDT on TradingView From the data, traders could anticipate a further uptrend provided Bitcoin remains strong. This is because STX’s correlation coefficient with BTC is 0.97, indicating that STX’s movement is in sync with BTC.

From a short-term perspective, STX needs to flip the $0.16-$0.17 zone into support. This outcome would suggest the current market structure remains intact. Failure at this supply zone could revert it back to at least $0.14, which is the top of the BB contraction.

A look at the bigger picture! But for a true market structure shift, STX’s price needs to trade inside the premium zone above $0.26. The daily chart shows the altcoin is still in the discount area when taking into account this year’s price action.

Source: STX/USDT on TradingView If STX can reclaim $0.26 as support, then the odds of trading toward this year’s peak of $0.40 increase. Otherwise, this pump may be just a retracement of the broader bearish market structure.

What’s behind STX’s price rebound? That said, it is worth expounding on what drove this market resurgence even though it was similar throughout crypto. Stacks was primarily driven by its BTC correlation.

To be specific, the speculative trading came from the BTCFi narrative. Stacks, as a BTC L2, was enabling Bitcoin staking for institutions

Final Summary Stacks rallied over 18% in 24 hours, thanks to its correlation with Bitcoin, as the BTCFi narrative provided fuel to STX’s rally.  STX crypto price prediction indicates that the altcoin needs to flip $0.17 into support in the short term and $0.26 in the midterm. 

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Asian Stocks Slide on Bond Stress: Will Safe Havens BTC and Gold Keep Rallying?

Bearish crypto traders absorbed $1.06 billion in short liquidations over 24 hours as the total crypto market capitalization rose 3.7%. 

Liquidations across the market reached $1.24 billion. The wipeout caught 141,191 traders, while long positions gave up only $174.41 million. 

Bitcoin Drove the Bulk of Short LiquidationsBitcoin (BTC) alone drove $789.68 million of the losses after climbing 8.4% to $74,998. The cryptocurrency touched an intraday high of $75,744 early Friday, its strongest print since May 27. 

That peak stopped narrowly below the True Market Mean of $75,800. Ethereum (ETH), followed by $206.88 million in liquidations, while XRP (XRP) added $41.94 million.

Crypto Liquidations on August 21. Soure: CoinglassAccording to BeInCrypto Markets data, XRP led the large caps with a 16.2% daily gain to $1.26. Ethereum climbed 10.1% to $2,315, comfortably ahead of Bitcoin’s move.

The XRP price rally extends one of the token’s strongest stretches since 2020. Meanwhile, sentiment has swung from fear to greed in a matter of days. Perspective still matters. 

Despite an 18.4% weekly gain, Bitcoin trades roughly 40% below its $126,080 record set on October 6, 2025. Whether spot buyers replace the liquidated shorts will decide if this holds.

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Bears Keep Paying for a Rally That Started in WashingtonThe latest rally traces back to the bond market. The Treasury doubled its long-end debt buybacks on August 19, raising each operation to at least $4 billion.

That initial move caught bearish traders off guard. As Bitcoin rose, short positions hit liquidation levels, forcing exchanges to buy BTC to close them. Those forced purchases pushed prices higher, triggering more liquidations and creating a self-reinforcing squeeze.

The loop has now run for three sessions. BeInCrypto reported that shorts lost $1.3 billion in 60 minutes as BTC climbed 2.5%. Yesterday, short liquidations reached $2.74 billion as 172,202 traders got wiped out.

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CME Group CEO Terry Duffy told the Commodity Futures Trading Commission (CFTC) it clears contracts that traders can rig. Chairman Michael Selig cut him off and called the claim fake news.

The exchange happened Thursday in Washington, at the first meeting of the CFTC’s Innovation Advisory Committee. Duffy runs the largest futures exchange in the world. Selig regulates it.

2,500 Filings and Zero ObjectionsSelig built the 35-member committee in February. Its roster includes the chief executives of Kalshi, Polymarket and DraftKings. Thursday’s agenda covered crypto, artificial intelligence and event contracts.

Duffy used his turn to attack the last one.

Roughly 2,500 self-certifications have landed at the agency since January 2025, he said. None were opposed.

Self-certification is the fast lane. An exchange files a contract, attests that it follows the law, and lists it. Nobody has to approve it.

Duffy said some of those filings break core principle 3. That rule bars any contract that traders can readily manipulate.

There is a structural reason few filings get challenged. Selig is the only sitting commissioner at the CFTC. Four of the agency’s five seats are empty.

“We’re not a bunch of carnival barkers at a circus. We are running the most envious markets in the world in the United States of America.”

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Selig Calls It Fake News, But The Record Is MessierDuffy raised two cases.

In the first, a Fort Bragg soldier named Gannon Van Dyke turned $33,034 into $409,881 on Polymarket. He bet on whether US forces would enter Venezuela. He also held classified details of the raid that captured Nicolás Maduro. Prosecutors charged him in April.

In the second, Trump’s teleprompter operator Gabriel Perez cleared more than $100,000 on Kalshi. He traded on what the president would say. Investigators found bets on more than a dozen speeches.

Selig cut in before Duffy finished.

“…those products are not listed in the United States. They never were. This occurred offshore, and that’s fake news.”

Duffy called that a cute comment. He granted that the Maduro market was Polymarket’s, which trades offshore.

The teleprompter case is different. Those trades ran on Kalshi, an exchange the CFTC itself designates and oversees. Kalshi’s own surveillance team flagged the activity and reported it to the agency.

So one example landed offshore. The other did not.

Kalshi Trades Compute Today. CME Waits for October.Duffy then moved to timing, and the complaint got sharper.

Kalshi already runs markets on the cost of renting Nvidia chips. It launched them in July.

CME wants in on the same trade. On August 11 it said it would list rental futures for Nvidia H100 and B200 chips. Its partner is Silicon Data, a firm backed by trading house DRW. Target date, October 5, pending review.

Then the agency opened a consultation. On August 19 it asked the public to comment on compute derivatives for 60 days.

Count the days. A 60-day window starting from Federal Register publication closes after October 5.

DRW founder Don Wilson, also on the committee, asked why compute needed 60 days at all.

Duffy added a second detail. Cantor Fitzgerald had opened institutional trading in Kalshi contracts hours earlier. “Let’s call that a coincidence,” he said.

Cantor Fitzgerald plans to give investment funds access to Kalshi’s prediction markets, arranging block trades on everything from weather forecasts to iPhone sales https://t.co/kb4dzux7m1

— WSJ Markets (@WSJmarkets) August 19, 2026
Cantor’s announcement covered event contracts broadly and never mentioned compute.

The Man Attacking Self-Certification Once Used ItDuffy’s frustration is not abstract. His own filings keep stalling.

In July the agency froze CME’s 24-hour crude oil contract while a rulemaking ran. Selig called the timing wholly inappropriate. That comment period closes on August 26.

CME has already gone to court. On June 18 it sued the CFTC over Kalshi’s Bitcoin perpetual contract, arguing the agency rubberstamped Kalshi’s reasoning. Those perps cleared $1 billion in volume in their first week.

Duffy also pressed on offshore venues. Traders in the US cannot legally touch them, he said, yet they get there anyway. He asked what the commission is doing to “police everybody’s VPN.”

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He named Hyperliquid. President Donald Trump had floated bringing Hyperliquid onshore at a White House crypto summit the previous day.

One point cuts against Duffy. CME self-certified its own Bitcoin futures in December 2017, using the same fast lane he now calls dangerous. Duffy signed the announcement.

He closed on 2008. Bad behavior in finance does not cost the industry one step, he said. It costs 20, and the rebuild takes years.

Duffy hands the CEO job to Lynne Fitzpatrick in March 2027. The committee he was addressing cannot write rules. Selig can, alone, and two of his clocks run out within weeks.

THE BLOCK: Bitcoin breaks through $75,500 while analyst calls current rally 'premature'

Chip export prices have surged, and the AI chip shortage crisis continues to intensify.

Samsung has recently raised foundry prices for some 4nm, 5nm, and 8nm nodes by 10% to 15%. TSMC has also hiked its 2026 capital expenditure to $60 billion to $64 billion, reflecting that existing production capacity still cannot fully meet AI demand. This round of price hikes benefits storage, foundry, and packaging players controlling scarce capacity, but will raise costs for server, PC, and consumer electronics firms. The market will next focus on the race between upward earnings revisions and new capacity expansion: the longer the supply shortage persists, the stronger the pricing power of leading players; if capacity expansion outpaces actual AI demand growth, price corrections and inventory reversals will amplify volatility in semiconductor stocks. (Jinshi)

15 minutes ago

Goldman Sachs: AI stocks have seen sharp volatility, but positions are far from returning to extreme levels.

Goldman Sachs OneDelta head Rich Privorotsky noted that AI and momentum trading have seen sharp swings over the past 48 hours, with Goldman Sachs’ GSPUMOMO momentum portfolio down nearly 7% in total. However, per Goldman Sachs Prime data, position changes are far more moderate: momentum exposure is now near neutral, investors have mostly added net exposure recently, and total leverage has not risen significantly again. This is particularly important as the market just went through a major de-risking process in July. While investors still hold considerable AI and semiconductor exposure, it remains well below earlier peak levels. Leverage within the semiconductor sector has declined, though some residual leverage remains in the system. A sharp price drop could easily trigger passive position cuts and forced selling. As such, recent sharp swings in AI stocks may be further amplified by low market liquidity in August. Intraday price action appears highly "fundamental-driven", but may not actually align with comparable fundamental changes. At this stage, it is more appropriate to continue monitoring total leverage, Prime positions, and semiconductor capital flows to assess whether this round of volatility will evolve into broader de-risking. (Jin10)

15 minutes ago

Analyst: Bitcoin faces fewer upside resistance levels, with $83,300 as the next key resistance level.

On-chain analyst Ali Charts said Bitcoin has now formed strong support in the $61,849 to $63,111 range, an area where over 2 million BTC were previously traded. More importantly, data from the Unrealized Profit/Loss Distribution (URPD) metric shows Bitcoin has relatively few resistance zones above its current level. Ali Charts added that if BTC can break through $75,733, the next major supply dense zone is likely located in the $83,307 to $84,569 range, where roughly 1 million BTC changed hands previously.

15 minutes ago

The whale, which set 10 major targets for its short positions, has expanded its total short position to $143 million, currently facing an unrealized loss of $309,000.

According to on-chain analyst Ai Yi (@ai_9684xtpa), the total short position of the whale codenamed "Set 10 Big Goals First" has risen to $143 million, with an unrealized loss of $309,000. Details: 5x leveraged short position on Bitcoin (BTC) holds 1,449.968 BTC, worth around $108 million, at an average entry price of $74,570.99; 7x leveraged short position on Ethereum (ETH) holds 15,000 ETH, worth approximately $35.21 million, with an average entry price of $2,347.89.

15 minutes ago

Bitget’s TradFi contract trades topped 150 million in August.

Bitget’s latest data shows that as of August 20, the cumulative number of trades on its TradFi contracts in August has surpassed 150 million, with a daily peak of 13.64 million trades. As demand for trading traditional financial assets including US stocks, foreign exchange, precious metals, and commodities continues to rise, trading activity in Bitget’s TradFi segment has further improved.

15 minutes ago

BTC long positions worth tens of millions of dollars have been pre-positioned, apparently betting on a rebound in macro risk assets.

According to monitoring by TradingBeats (formerly Hyperinsight), an address starting with 0xa0....e553c has recently completed a clear BTC long position build-up. Order records show the address did not chase prices at a single point; it had previously attempted swing trading for BTC and the XYZ:100 index multiple times. This round, after confirming an uptrend around August 20, it gradually built its BTC position via multiple orders. Entry prices for the position range from approximately $53,653 to $66,667, with multiple large orders of ~132.67 BTC, eventually forming a BTC perpetual long position worth around $9.9 million. Currently, it holds BTC longs valued at $9.89 million, with an average entry price of $68,785.80, an unrealized profit of $760,000, and a return of 154%. The address has not allocated large sums to ETH, SOL, or other popular altcoins, instead concentrating its funds heavily on BTC. Its position adjustments appear to be front-running expectations of improved macro liquidity. Additionally, as early as the start of August, the address began positioning for the XYZ100 index, with multiple rounds of adding and reducing positions during that period. This development comes amid recent improved expectations for U.S. digital asset regulation, policy signals supporting crypto market structure development, and improved liquidity expectations pushing BTC back to key price levels. On-chain Perpetual (Perp) and address analysis tool TradingBeats is now live, supporting real-time viewing of Hyperliquid data, enabling full deep analysis from address tracing to whale operations, all at a glance.

15 minutes ago

Chip export prices have surged, and the AI chip shortage crisis continues to intensify.

Samsung has recently raised foundry prices for some 4nm, 5nm, and 8nm nodes by 10% to 15%. TSMC has also hiked its 2026 capital expenditure to $60 billion to $64 billion, reflecting that existing production capacity still cannot fully meet AI demand. This round of price hikes benefits storage, foundry, and packaging players controlling scarce capacity, but will raise costs for server, PC, and consumer electronics firms. The market will next focus on the race between upward earnings revisions and new capacity expansion: the longer the supply shortage persists, the stronger the pricing power of leading players; if capacity expansion outpaces actual AI demand growth, price corrections and inventory reversals will amplify volatility in semiconductor stocks. (Jinshi)

15 minutes ago

Goldman Sachs: AI stocks have seen sharp volatility, but positions are far from returning to extreme levels.

Goldman Sachs OneDelta head Rich Privorotsky noted that AI and momentum trading have seen sharp swings over the past 48 hours, with Goldman Sachs’ GSPUMOMO momentum portfolio down nearly 7% in total. However, per Goldman Sachs Prime data, position changes are far more moderate: momentum exposure is now near neutral, investors have mostly added net exposure recently, and total leverage has not risen significantly again. This is particularly important as the market just went through a major de-risking process in July. While investors still hold considerable AI and semiconductor exposure, it remains well below earlier peak levels. Leverage within the semiconductor sector has declined, though some residual leverage remains in the system. A sharp price drop could easily trigger passive position cuts and forced selling. As such, recent sharp swings in AI stocks may be further amplified by low market liquidity in August. Intraday price action appears highly "fundamental-driven", but may not actually align with comparable fundamental changes. At this stage, it is more appropriate to continue monitoring total leverage, Prime positions, and semiconductor capital flows to assess whether this round of volatility will evolve into broader de-risking. (Jin10)

15 minutes ago

Analyst: Bitcoin faces fewer upside resistance levels, with $83,300 as the next key resistance level.

On-chain analyst Ali Charts said Bitcoin has now formed strong support in the $61,849 to $63,111 range, an area where over 2 million BTC were previously traded. More importantly, data from the Unrealized Profit/Loss Distribution (URPD) metric shows Bitcoin has relatively few resistance zones above its current level. Ali Charts added that if BTC can break through $75,733, the next major supply dense zone is likely located in the $83,307 to $84,569 range, where roughly 1 million BTC changed hands previously.

15 minutes ago

The whale, which set 10 major targets for its short positions, has expanded its total short position to $143 million, currently facing an unrealized loss of $309,000.

According to on-chain analyst Ai Yi (@ai_9684xtpa), the total short position of the whale codenamed "Set 10 Big Goals First" has risen to $143 million, with an unrealized loss of $309,000. Details: 5x leveraged short position on Bitcoin (BTC) holds 1,449.968 BTC, worth around $108 million, at an average entry price of $74,570.99; 7x leveraged short position on Ethereum (ETH) holds 15,000 ETH, worth approximately $35.21 million, with an average entry price of $2,347.89.

15 minutes ago

Bitget’s TradFi contract trades topped 150 million in August.

Bitget’s latest data shows that as of August 20, the cumulative number of trades on its TradFi contracts in August has surpassed 150 million, with a daily peak of 13.64 million trades. As demand for trading traditional financial assets including US stocks, foreign exchange, precious metals, and commodities continues to rise, trading activity in Bitget’s TradFi segment has further improved.

15 minutes ago

BTC long positions worth tens of millions of dollars have been pre-positioned, apparently betting on a rebound in macro risk assets.

According to monitoring by TradingBeats (formerly Hyperinsight), an address starting with 0xa0....e553c has recently completed a clear BTC long position build-up. Order records show the address did not chase prices at a single point; it had previously attempted swing trading for BTC and the XYZ:100 index multiple times. This round, after confirming an uptrend around August 20, it gradually built its BTC position via multiple orders. Entry prices for the position range from approximately $53,653 to $66,667, with multiple large orders of ~132.67 BTC, eventually forming a BTC perpetual long position worth around $9.9 million. Currently, it holds BTC longs valued at $9.89 million, with an average entry price of $68,785.80, an unrealized profit of $760,000, and a return of 154%. The address has not allocated large sums to ETH, SOL, or other popular altcoins, instead concentrating its funds heavily on BTC. Its position adjustments appear to be front-running expectations of improved macro liquidity. Additionally, as early as the start of August, the address began positioning for the XYZ100 index, with multiple rounds of adding and reducing positions during that period. This development comes amid recent improved expectations for U.S. digital asset regulation, policy signals supporting crypto market structure development, and improved liquidity expectations pushing BTC back to key price levels. On-chain Perpetual (Perp) and address analysis tool TradingBeats is now live, supporting real-time viewing of Hyperliquid data, enabling full deep analysis from address tracing to whale operations, all at a glance.

15 minutes ago

ビットコイン（BTC）が、1200万円に回復した。この水準を記録するのは、2026年5月27日以来、約3カ月ぶりとなる。

[CoinMarketCap] 今回の価格上昇の背景には、米国の政策動向や投資資金の流入など、複数の追い風が重なったことがある。

大きなきっかけとなったのは、米財務省による国債買い戻し枠の拡大発表だ。市場への資金供給に対する期待が高まったことに加え、トランプ米大統領が政府によるビットコインの新たな購入・取得案について「議論は行われている」と認めたことも、市場に強い好材料として受け止められた。

関連記事：トランプ大統領、米政府によるビットコイン購入検討を認める

あわせて、米国のビットコイン現物ETFへまとまった資金流入が続いたほか、価格上昇の過程で売りポジション（ショート）の連鎖的な清算が起きたことも、買圧力を強める要因となった。

なお、今回の急伸に伴い、暗号資産市場全体の時価総額も400兆円に達している。

｜文：栃山直樹
｜画像：Adobe Stock

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Bitcoin’s latest rally has been backed by a sharp increase in institutional activity. U.S. spot Bitcoin ETFs recorded more than $5.3 billion in trading volume as BTC reclaimed $74,000 for the first time in 86 days.

BlackRock’s IBIT dominated activity with $4.44 billion in volume. Fidelity’s FBTC came next at $438 million and Grayscale at $208.8 million. Meanwhile, Bitwise, ARK Invest, VanEck, Morgan Stanley, Franklin Templeton, Invesco, Valkyrie, WisdomTree and Hashdex accounted for the remaining volume as per data.

$517M Flows as Bitcoin Jumps 17%U.S. spot Bitcoin ETFs also attracted $517.19 million in net inflows, their strongest inflow day since May 4. Eight of the 12 funds recorded positive flows. BlackRock’s IBIT led with $284.7 million, followed by ARK and 21Shares’ ARKB at $77.7 million. Fidelity’s FBTC came next at $62.4 million.

The ETF activity came as Bitcoin surged roughly 17% in two days. It added around $11,000 and more than $220 billion to its market capitalization.

The rally has also triggered a major short squeeze. More than $3.6 billion in short positions have been liquidated over the past 72 hours, including $2.75 billion in Bitcoin shorts on Wednesday. Over the following 24 hours, another $783.2 million in Bitcoin positions were liquidated. Of this, $747.7 million came from shorts, according to CoinGlass data.

What Fueled this Rally?The rally followed the U.S. Treasury Department’s decision to at least double liquidity-support buyback operations for longer-dated nominal coupon securities. This applies in the 10- to 30-year segment.Additional catalysts included the SEC’s latest crypto proposal. There was also a White House meeting between President Donald Trump and prominent crypto executives, helping trigger the unexpected move higher.McGlone Warns Rally Could FadeDespite the surge, Bloomberg’s Mike McGlone remains bearish. He described the move as “a bounce within the purge”, arguing that August can produce short squeezes even during a broader bear market.

McGlone criticized Bitcoin’s volatility and correlation with stocks, saying institutional investors face unfavorable risk-reward characteristics. He also argued that the rapid expansion of the wider crypto market has created excessive supply. Consequently, he expects Bitcoin to potentially roll over by year-end.

While he supports blockchain technology, McGlone argues Bitcoin’s original peer-to-peer cash use case has weakened. This comes with the emergence of crypto-dollar alternatives.

Story Ends Here

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Bitcoin climbed as high as $75,527 on Friday, up roughly 7.7% over the past 24 hours, while Ether rose 5% to trade near $2,337, extending a rally that has pushed both assets to their highest levels since early June. Ether has gained close to 25% over the past week alone.

The move follows a White House meeting on August 19, at which President Trump hosted executives from Coinbase, Ripple, Robinhood, Kraken and ICE and called on Congress to pass a "fair version" of the CLARITY Act, the bill that would settle whether most digital assets are regulated as securities or commodities. The legislation has been stalled in the Senate, with a procedural vote now scheduled for September.

Traders have treated the meeting as a signal that the administration intends to keep pressing for the bill's passage, even though it has not yet moved through Congress. Regulatory uncertainty over whether the SEC or the CFTC holds jurisdiction over most tokens has weighed on institutional participation in crypto markets for years, and any resolution would remove a longstanding overhang on valuations.

The rally also has a macro tailwind. The Treasury Department said this week it would double its long-term bond buyback operations, from $2 billion to at least $4 billion per transaction, in operations running between September 9 and November 4. The announcement pulled the 30-year Treasury yield down from 5.337% to around 5.20%, lowering the opportunity cost of holding riskier, non-yielding assets such as bitcoin and ether.

Bitcoin's market capitalization stood at roughly $1.5 trillion on Friday, with the asset holding just over 53% of total crypto market share, according to CoinGecko. Trading volume has picked up alongside the price moves, with Bitcoin recording close to $59 billion in 24-hour volume and ether around $33 billion, both well above their recent averages.

The rally's durability now hinges on two supports holding at once: Treasury yields staying low and the CLARITY Act keeping momentum in the Senate through September. A stall on either front would remove one of the two legs currently underpinning the move, and crypto's history of giving back sharp two-day gains just as quickly means traders are treating the levels as fragile until the Senate vote actually happens.

Bitcoin climbed above $72,500 on Thursday, marking its highest price since late May. The surge came as President Donald Trump called for Congress to advance new cryptocurrency legislation and improving market conditions supported digital assets.

Major cryptocurrencies post significant gainsBitcoin rose 6.6% to reach $72,644. Ethereum increased 11%, while XRP recorded a 19% gain. The Hyperliquid token jumped 15% after President Trump stated that Commodity Futures Trading Commission Chairman Mike Selig was working to bring the decentralized exchange to the US.

The rally coincided with calls from Trump, several regulators, and key cryptocurrency executives urging Congress to pass the Clarity Act. This proposed bill would classify Bitcoin and other digital assets as commodities instead of securities. A procedural vote on the bill is set for September 15.

In contrast to the strong performance in cryptocurrencies, US equities declined. The Dow Jones Industrial Average dropped 624 points, while the S&P 500 fell 0.71% and the Nasdaq Composite slipped over 1%.

Short squeeze and market liquidity boost BitcoinBitcoin’s momentum followed the largest short-liquidation event to date in cryptocurrency markets. According to data from CoinGlass, $664 million in Bitcoin short positions were liquidated within the last 24 hours.

Crypto asset24h price gainShorts liquidatedBitcoin6.6%$664 millionEthereum11%Not statedXRP19%Not statedExpectations of lower long-term US borrowing costs also contributed to Bitcoin’s rise. The US Treasury announced it would double the size of its longer-term bond buybacks to help arrest climbing yields. Lower bond yields generally favor cryptocurrencies by making traditional interest-bearing assets less attractive and increasing overall market liquidity.

Despite Thursday’s rally in bond yields placing pressure on stocks, cryptocurrencies largely maintained their upward trajectory. Gideon Hyams, chairman and co-founder of STS Digital, remarked that the short squeeze initiated the rally but noted that additional factors were sustaining it.

Squeezes start rallies, but they don’t sustain them, and this one has more behind it than forced buying, said Hyams, highlighting falling long-term yields, renewed ETF inflows, and greater regulatory clarity as supporting elements for Bitcoin’s upward trend.

Nicolai Søndergaard, senior research analyst at Nansen, agreed that increased short covering accelerated Bitcoin’s breakout yet emphasized that strong spot and ETF demand were also critical drivers.

Mini dictionary: STS Digital is a digital asset management and research firm focused on cryptocurrency markets, offering insights and investment solutions tailored to institutional clients.

Key tests ahead for the Bitcoin rallyWhile the price jumped sharply, analysts are monitoring whether Bitcoin can retain its gains after the impact of the short squeeze fades. Søndergaard noted that the technical outlook for Bitcoin has improved but warned that leveraged long positions are becoming crowded. He suggested that ongoing strong spot buying will be crucial for the cryptocurrency to remain above the $70,000 mark.

Sustained acceptance above $70,000 would keep the outlook constructive, while a pullback toward the 69,700–69,000 area would be a normal test of the breakout rather than an automatic trend reversal, Søndergaard stated.

Ki Young Ju, founder of CryptoQuant, said demand for Bitcoin has turned positive in both spot and perpetual futures markets for the first time since October 2025’s record highs. However, he pointed out that the current scale of demand is still modest and suggested that if this continues for another month, a new bull cycle could be confirmed.

Technical trends are also drawing attention. Bitcoin is approaching a widely tracked golden cross, where the 50-day simple moving average, now at $64,217, is set to cross above the 200-day average at $68,975. The cryptocurrency is currently above both averages, but continued demand will be necessary for the rally to persist.

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.

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

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Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are extending their rallies as bullish momentum strengthens and continue to cheer the US Treasury’s decision to double its debt buyback operations. BTC has climbed nearly 20%, ETH over 25% and XRP nearly 30% so far this week. With momentum indicators and key technical levels pointing to further upside, the focus now shifts to whether BTC can reach $80,000, ETH can reclaim $2,500, and XRP can advance toward $1.50.

Bitcoin price trades at $74,700 on Friday, extending its breakout above the major Exponential Moving Averages (EMAs) and keeping a clear bullish near-term bias. The 50-day, 100-day and 200-day EMAs at $65,286, $66,727 and $71,545 sit well below price, suggesting a firmly supported uptrend after the strong surge in volume accompanying the latest leg higher.

Momentum is stretched, with the Relative Strength Index (RSI) hovering in overbought territory near 83. At the same time, the Moving Average Convergence Divergence (MACD) remains strongly positive, suggesting bullish pressure persists but is increasingly vulnerable to corrective pauses.

On the topside, immediate resistance is located at the horizontal barrier near $80,000, where fresh supply could slow the rally and trigger consolidation. 

On the downside, initial support is seen at the 200-day EMA around $71,545, while deeper pullbacks would likely find buyers near the 100-day EMA at $66,737 and the nearby horizontal level at $66,500; below that, the 50-day EMA at $65,286 and the structural floor at $62,300 emerge as secondary layers that would need to hold to preserve the broader bullish structure.

BTC/USDT daily chartEthereum bulls in control of momentumEthereum price trades at $2,354 on Friday, extending its advance well above the key EMAs, which reinforces a bullish near-term bias. The 50-day EMA, 100-day EMA and 200-day EMA clustered between roughly $1,920 and $2,130 sit comfortably below the market, highlighting a constructive trend structure, while price now approaches the horizontal barrier at $2,500. 

Momentum is stretched, with the RSI around 85 in overbought territory and the MACD holding firmly in positive ground, suggesting strong but potentially overextended upside pressure.

On the topside, initial resistance is located at the psychological $2,500 level, followed by a higher horizontal cap at $3,000, where buying interest could start to fade. 

On the downside, immediate demand is at the recent price area, with stronger support at the 200-day EMA at $2,128 ahead of the $2,000 level. At the same time, deeper corrective moves would target the 100-day EMA near $1,941 and the 50-day EMA around $1,920.

ETH/USDT daily chartXRP surges nearly 30%XRP price trades at $1.284 on Friday, up nearly 30% so far this week. XRP is retaining a constructive near-term tone as it holds above the 50-day and 100-day EMAs at $1.091 and $1.159, respectively, while still capped beneath the 200-day EMA at $1.344.

The RSI at 78 signals overbought conditions, and the MACD is in positive territory with a strong bullish profile, suggesting robust upside momentum but vulnerability to a corrective pullback if buyers lose conviction near overhead levels.

On the topside, immediate resistance sits at the horizontal barrier around $1.300, ahead of the 200-day EMA at $1.344, with a higher resistance zone near $1.900. 

On the downside, initial support is located at the 100-day EMA at $1.159, followed by the 50-day EMA at $1.091, while a more distant structural floor sits at the horizontal support region near $1.000.

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

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.

Jim Cramer said he sold his entire Bitcoin (BTC) position over quantum computing fears less than a month ago, then turned around and told a caller on the latest episode of Mad Money to buy the same asset.

The reversal has traders once again invoking “Inverse Cramer,” the running theory that fading the CNBC host’s calls beats following them.

The SaleCramer’s exit traces back to a July 31 Mad Money interview with IBM Chairman and CEO Arvind Krishna, who warned that quantum computers could eventually crack the cryptography protecting Bitcoin.

“I think that you should give yourself three or four years, and at that point, I would get rather paranoid about it.”

Arvind Krishna, IBM chief executive, on the quantum timeline.

Days later, Cramer said on air that he would sell his Bitcoin. No wallet address, filing, or position size has confirmed the trade actually happened though.

Then a Caller AsksOn a later episode, a viewer named Sanjay called into the show’s lightning round asking about Bitmine Immersion Technologies (BMNR), an Ethereum treasury stock he had bought before. Cramer waved him off the derivative play entirely, telling him to skip it and buy Bitcoin directly instead, warning that crypto-linked derivatives carry too much risk.

The advice landed awkwardly given Cramer’s own stated exit from Bitcoin weeks earlier. The so-called Inverse Cramer trade treats his calls as a contrarian signal rather than a forecast, a reputation built over years of flip-flopping on the asset.

Tuttle Capital once listed an ETF betting against his picks; the fund lost 15.7% against a 25.4% gain for the S&P 500 before it closed in February 2024, proof that fading any single pundit consistently carries its own risk.

Price Action SinceBitcoin has climbed since Cramer’s original sell call, when it traded near $63,700. It now trades near $74,300 and touched an intraday high of $75,500, a run that has continued regardless of his stated exit.

Bitcoin has reached as high as $75,500 during this rally. Image Source: BeInCryptoWhether Cramer actually holds, sold, or has quietly bought back into Bitcoin remains unverified. What is clear is that his on-air signals now contradict each other within weeks, leaving viewers to decide which Cramer to listen to, if either.

Leading cryptocurrencies extended their winning rally on Thursday as markets digested a White House summit favorable to digital assets.

Crypto Market Climbs HigherBitcoin touched $74,000 for the first time in almost three months, as renewed momentum kept the top cryptocurrency advancing. Trading volume jumped 18% over the last 24 hours. Ethereum topped $2,360, while XRP and Dogecoin saw strong rallies.

Cryptocurrency-related stocks extended their rally, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 7.81% and 6.57%, respectively. 

The primary catalyst lifting the sector stems from Wednesday’s high-profile White House cryptocurrency summit hosted by President Donald Trump.

Over $1 billion was liquidated from the cryptocurrency market in the last 24 hours, with short sellers taking the majority of the losses, according to Coinglass data.

Bitcoin’s open interest spiked 7.25% over the last 24 hours to levels last seen on May 29. On Binance, retail derivatives traders held a net short position in BTC, while whales sharply cut their long exposure.

"Greed" sentiment prevailed in the market, according to the Crypto Fear & Greed Index.

Top Gainers (24 Hours) 

The global cryptocurrency market capitalization stood at $2.49 trillion, surging by 5.42% over the last 24 hours.

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Stocks Sink After Treasury Yields SpikeStocks sold off sharply on Thursday. The Dow Jones Industrial Average declined 703.84 points, or 1.32%, to end at 52,759.21. The S&P 500 shed 0.87% to close at 7,641.16, while the tech-heavy Nasdaq Composite fell 1% to settle at 26,067.17.

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The 10-year Treasury yield rose more than 5 basis points to 4.706%, while the 30-year yield climbed more than 5 basis points to 5.251%, after both yields spiked earlier this week to their highest levels in nearly 20 years.

Bitcoin’s First Real TestMichaël van de Poppe, a widely followed cryptocurrency analyst and trader, noted Bitcoin approaching its “first real test” at $73,500-$75,000 after a sharp breakout.

He predicted a short-term BTC stall, adding, “That’s why I think that we’ll stall for a second and that the other assets within the ecosystem will start to have their massive breakouts.”

On-chain analytics firm CryptoQuant stated that Bitcoin recorded its largest profit-side movement ever on Binance, right where trapped buyers “finally have a chance to exit.”

“A sustained reclaim of the STH [Short-term holder] Realized Price, alongside SOPR [Spent Output Profit Ratio] holding above 1 and improving spot demand, would suggest buyers are absorbing breakeven supply,” CryptoQuant stated.

On the other hand, a rejection would mean that the rebound is turning trapped holders into “exit liquidity.”

Spent Output Profit Ratio is an on-chain indicator that measures whether Bitcoin investors are selling at a profit or a loss

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

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

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

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Bitcoin

20 August 2026 | 17:23 Bitcoin’s move above $72,000 drew sharply different reactions from some of the market’s best-known voices.

Key Takeaways Standard Chartered’s Geoffrey Kendrick said Bitcoin could reach $100,000 by the end of 2026. Peter Schiff called the move above $72,000 a fakeout and argued that gold is the better trade. JPMorgan warned that Treasury buybacks may not prevent long-term yields from rising again. About $3 billion in crypto shorts were liquidated as Bitcoin broke out, amplifying the initial rally. Standard Chartered turns the buyback into a Bitcoin call The U.S. Treasury said it would at least double the maximum size of some buyback operations for older 10-to-30-year securities, to $4 billion per operation. The decision was aimed at liquidity in older bonds, not at launching a new Federal Reserve asset-purchase programme.

For Geoffrey Kendrick, Standard Chartered’s head of digital-assets research, the broader message was more important than the programme’s mechanics. Kendrick called it “exactly the type of thing Bitcoin loves” and said investors should position for Bitcoin to reach $100,000 by the end of 2026, according to Forbes.

His argument is a macro one. If investors view intervention in the Treasury market as a sign that governments will keep managing the consequences of large debt loads, Bitcoin may become more attractive as an asset outside that system. It is not a claim that a buyback operation automatically sends Bitcoin higher, nor a guarantee that the $100,000 target will be met.

Kendrick’s forecast also needs to be read in its proper frame. It is a year-end 2026 view from one research desk, not an estimate of Bitcoin’s next resistance level or a verdict on the latest one-day move.

Peter Schiff says the same event favours gold Peter Schiff reached the opposite conclusion. In an X post, Schiff said Bitcoin’s rally above $72,000 was “a fakeout, not a breakout.” He argued that the Treasury announcement caught markets by surprise and that Bitcoin holders are only “half right” to expect easier money to support hard assets.

Bitcoin’s rally above $72K is a fakeout, not a breakout. The Treasury buyback announcement caught markets by surprise. Bitcoin investors have long believed a return to easy money would be the catalyst for gold and Bitcoin to soar. They are only half right. Sell Bitcoin, buy gold.

— Peter Schiff (@PeterSchiff) August 20, 2026

Schiff’s answer is gold. His view is that a government response to high borrowing costs ultimately points to inflation risk and currency debasement, conditions he believes favour the metal rather than Bitcoin.

That distinction is easy to lose in a broad crypto rally. Kendrick and Schiff both see the Treasury decision as evidence that the existing financial system faces pressure. They disagree over which asset best protects against it. Bitcoin’s gain does not resolve that argument; it only shows which side traders favoured during the initial reaction.

JPMorgan questions the fix, not the asset JPMorgan’s warning belongs in a different category. Strategists cited by MarketWatch argued that the buyback plan may not keep long-term Treasury yields down because it does not alter the fiscal deficit or remove the term premium investors demand to hold longer-dated debt.

That is not a JPMorgan call to sell Bitcoin. It is a warning that the market condition which accompanied the rally could prove temporary. If long-term yields resume their rise, investors may reassess the idea that the Treasury announcement marked a lasting loosening in financial conditions.

Reuters made the same practical point: the buyback capacity is small relative to the Treasury market and does not address persistent borrowing or inflation concerns. That leaves Kendrick’s Bitcoin case exposed to a simple test, whether markets treat the intervention as reassurance or as evidence of a deeper problem.

Trump added a separate crypto catalyst The Treasury decision was not the only headline in play. Donald Trump urged Congress to pass the CLARITY Act during a White House meeting with crypto-industry executives while Ethereum jumped with 19% in he same day.

The bill is designed to draw clearer lines between securities and commodities oversight for digital assets. That is a meaningful issue for exchanges, token issuers and investors who have spent years dealing with uncertain U.S. jurisdiction. But a presidential endorsement is not passage. The market can price an improved political signal long before Congress turns it into law.

The squeeze supplied momentum, not a conclusion The force behind the first leg of the rally was visible in derivatives data. Coinglass data showed roughly $3 billion in crypto short liquidations in 24 hours as Bitcoin left a six-week range, with more than $1 billion cleared in a single hour. Traders who had bet against Bitcoin were required to buy it back as the market moved higher.

That helps explain why the move accelerated. It does not show why longer-term investors should own Bitcoin at a particular price. Earlier today our team explained how forced liquidations can magnify a crypto move; they are evidence of stressed positioning, not a standalone measure of demand.

There was also cash-market activity. SoSoValue data recorded $517.19 million in net inflows to U.S. spot Bitcoin ETFs on August 19. That does not prove a sustained trend, but it gives the rally a source of support beyond traders closing leveraged shorts.

What would support each argument from here For Kendrick: Continued ETF inflows, contained long-term yields and further progress on U.S. crypto market-structure legislation would strengthen the $100,000 case. For Schiff: Gold outperforming Bitcoin while long-dated Treasury yields rise again would support his view that investors are choosing the wrong hedge. For JPMorgan: A renewed increase in long-term yields after the buyback announcement would show that the policy has not eased investors’ concerns about the U.S. debt market. For the policy argument: Concrete movement on the CLARITY Act would matter more than another supportive White House statement. The immediate price move gave every camp something to point to. Kendrick has a stronger institutional Bitcoin narrative, Schiff has a live warning about the same policy response, and JPMorgan has identified the point where the macro story can fail. The next few sessions will not settle the debate, but they will show whether Bitcoin’s buyers remain after the forced short covering has passed.

Source review: Treasury buyback terms are based on the U.S. Treasury’s August 19, 2026 release. Bitcoin price and liquidation figures were reported by CoinDesk on August 20. ETF-flow data is from a supplied SoSoValue snapshot dated August 19. Standard Chartered’s target is an attributed analyst forecast reported by Forbes, not a price guarantee. Schiff’s comments are opinion. Reuters and MarketWatch were used for the U.S. policy and bond-market context.

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.