Bitcoin (BTC) — Onchain News & Whale Tracking

BlackRock: Bitcoin’s “safe-haven/anti-devaluation” narrative has returned to the center of the market.

Bitcoin has recently returned to the $80,000 mark. BlackRock’s head of digital assets, Robbie Mitchnick, believes the market is refocusing on Bitcoin’s safe-haven attributes and its role as a hedge against currency devaluation. Unlike previous rallies that largely tracked the Nasdaq and tech stocks, this upswing appears to be a macro repricing driven by growing concerns over debt, deficits, and the U.S. dollar’s creditworthiness. This assessment aligns with recent market movements. Bitcoin has rebounded sharply from its $60,000 range low, briefly topping $81,000; meanwhile, gold has also held strong, with U.S. long-dated Treasury yields and U.S. fiscal sustainability emerging as key market talking points. BlackRock argues that when debt, deficits, and currency devaluation return to investors’ radar, scarce assets like Bitcoin and gold will see stronger allocation demand. Funding conditions have also shown signs of improvement. Spot Bitcoin ETFs posted a net inflow of around $2.4 billion in August, marking one of their strongest months so far this year. Meanwhile, Bitcoin’s correlation with the Nasdaq has declined significantly, with some traders noting its recent performance is more similar to gold’s. This signals that the market is shifting back from "risk asset trading" to "macro hedging trading."

Yilihua: Bitcoin may experience a minor pullback in the short term, and plans to close long positions near $86,000.

Yihua Yi, founder of Liquid Capital, noted that Bitcoin has yet to break through the resistance level around $81,000, and is likely to see a minor pullback in the coming days before resuming its rally to breach that zone. The next key resistance level to monitor stands at roughly $86,000. He plans to close his long positions when Bitcoin approaches $86,000, as this level could trigger a substantial pullback. Still, he maintains that the bull market trend is already in place: even if the price enters the resistance zone and turns short-term bearish, he will only close out long positions, not open short ones.

Bitcoin hits resistance on rally, falls back below $80,000

According to HTX market data, Bitcoin briefly broke above $81,000 earlier this morning before pulling back, and is now trading below $80,000 at $79,929.99. Earlier, multiple analysts including prominent trader Killa and Garrett Jin, representative of the "BTC OG Insider Whale", pointed out that Bitcoin faces significant selling pressure in the $82,000 range.

Polymarket withdraws its application for NFL contracts, and secures approval for Bitcoin price contract licensing on the same day.

Prediction market platform Polymarket US has withdrawn two NFL player participation contract applications. The contracts, which had just been certified by the U.S. Commodity Futures Trading Commission (CFTC) the day prior, were pulled one day before their scheduled listing, with the platform offering no public reason for the withdrawal. The contracts are based on metrics including whether players will participate in at least one offensive or defensive play, and are set to be settled per official NFL game records, classified as binary option swaps. On the same day, Polymarket certified Bitcoin, Ethereum, and Solana price contracts with the CFTC — also binary option swap contracts in paired form.

Crypto whale sets 10 major goals: Bitcoin to hit $100k soon, has bought back two-thirds of its positions.

，巨鲸「先定 10 个大目标」昨夜发文更新其持仓变化，表示已在「7.8～7.98 美元区间接回三分之二的仓位了。基本上 10 万之前，很难看到像样的回调了。10 万美元很快就到。」

Garrett Jin: Bitcoin needs to digest selling pressure at $82,500, advises focusing on three key indicators

Agent of "BTC OG Insider Whale" Garrett Jin released market insights, noting Bitcoin is approaching a dense supply zone. The critical area remains $80,000 to $82,500, where a large number of Bitcoin’s on-chain cost levels are concentrated—formed during the final rally before the sell-off, though not all these tokens need to be traded. On the positive side, capital flow data is strong. As of August 26, U.S. spot ETFs have attracted inflows for eight consecutive trading days, totaling ~$2.8 billion. August’s inflows hit roughly $3.3 billion, the highest monthly amount so far this year. On-chain metrics show the 7-day moving average of net realized profit and loss is positive at ~$752 million, with realized profits near $1.1 billion and realized losses at $354 million. Despite overhead supply, spot demand is surging. Garrett Jin argues that a consistent close above $82,500 would signal full absorption of circulating supply (i.e., position turnover is complete). On the downside, the key level is $76,600, near short-term holders’ cost basis. A single-day close below this is manageable, but a real warning would trigger if at least two of three metrics deteriorate simultaneously: ETF capital flows, Coinbase premium, and the 7-day exponential moving average of net realized profit and loss. On-chain data reveals Garrett Jin’s address added 600 BTC long positions at $79,000 on the early morning of August 26, worth $47.4 million. He now holds 1,868 BTC long positions (valued at $147 million) with an average entry price of $77,090, posting an unrealized profit of $2.78 million.

Bitcoin briefly breaks through $81,000.

According to HTX market data, Bitcoin briefly surged past $81,000, currently priced at $80,901.71, with a 24-hour gain of 0.84%.

BlackRock’s crypto ETF received Bitcoin worth over $200 million and Ethereum worth $23.53 million over the past 9 hours.

According to monitoring by TradingBeats (formerly Hyperinsight), BlackRock’s crypto ETF has received 2,559.28 BTC (valued at over $205.6 million) and 9,340 ETH (worth $23.53 million) over the past nine hours.

Bitcoin’s 23% single-week rally has driven a sharp surge in mining stocks, with some mining shares outperforming AI-related stocks.

Bitcoin has rallied around 23% in a single week recently, driving a sharp rebound in the stocks of Bitcoin mining firms that had underperformed earlier. Some mining stocks have even outperformed AI infrastructure-related equities, indicating a renewed rise in investor attention to direct Bitcoin exposure. Data shows that Canaan, American Bitcoin, and Cango have gained between 41% and 67% recently. In comparison, CoreWeave rose around 21%, Nebius climbed 17%, and IREN increased 15%, while some mining stocks that had shifted to AI and high-performance computing (HPC) businesses earlier were largely flat or declined. BlocksBridge Consulting attributes Bitcoin’s recent rally to three main factors: the U.S. Treasury expanding its long-term U.S. Treasury bond repurchase scale, the Trump administration pushing Congress to pass the crypto market structure bill CLARITY Act, and a short squeeze triggered by Bitcoin’s breakout, which led to over $1.6 billion in crypto market liquidations within 24 hours. Notably, despite mining firms shifting to AI and HPC infrastructure in recent years, Bitcoin prices still have a significant impact on the performance of mining stocks. A previous analysis by BlocksBridge shows that since 2026, the AI and HPC business revenues of nine listed mining firms have reached around $341 million, while their related capital expenditures have hit $5.11 billion—meaning that for every $1 of AI-related revenue, mining firms have spent an average of about $15.

Grayscale: ZEC remains undervalued currently, with the potential to challenge Bitcoin's market share.

Grayscale Research stated in a report that Zcash (ZEC), a privacy-focused, Bitcoin-like decentralized digital currency, is poised to pose a genuine challenge to Bitcoin’s network effects. Grayscale highlighted Zcash’s unique advantages over Bitcoin: robust financial privacy, ongoing development to mitigate cybersecurity risks from quantum computing, and cross-chain connectivity via "intents" technology—traits that could grow increasingly critical in the AI-driven surveillance era. The firm noted ZEC has rallied roughly 19 times over the past year, yet its current market capitalization remains less than 1% of Bitcoin’s. Grayscale added this indicates there is still room for competition in the monetary crypto asset segment, suggesting Zcash could continue to expand its market share. However, the firm also stressed that investing in Zcash carries high risk; even if it successfully challenges Bitcoin, its growth is unlikely to be linear.

Bitcoin falls below $79,000

According to HTX market data, Bitcoin has fallen below $79,000, currently trading at $78,949.24, with a 0.1% daily decline.

Viewpoint: Bitcoin faces significant resistance in the $84,000 range, with potential support levels at $77,000 and $63,000.

According to analyst AliCharts, Bitcoin’s current price trajectory mirrors its bottom-forming phase in 2022–2023, having broken through a descending resistance trendline and approaching the ~$83,000 high from May 2026. This could spark a pullback that creates a buying opportunity, with a target of $100,000. Additionally, Bitcoin’s UTXO Realized Price Distribution (URPD) data indicates a major resistance zone between $83,307 and $84,569, where nearly 975,000 BTC was purchased. Coupled with traders holding a 25% profit margin, this zone is likely to trigger profit-taking and short-term corrections. Should a pullback occur, Bitcoin’s potential support levels stand at $76,996–$78,258 (with 843,000 BTC in trading volume) and $63,111 (with 925,000 BTC). A dip to these areas could offer another significant buying opportunity.

Bitcoin once again breaks through $80,000, with a crypto whale hinting it has gone long by setting 10 major targets.

According to HTX market data, Bitcoin has once again surpassed the $80,000 mark, currently priced at $80,175.72, with a 2.84% increase in the past 24 hours. Additionally, the crypto whale account "First Set 10 Big Goals" posted a message stating "The bull is back, hurry back", hinting that it has gone long on Bitcoin.

Justin Sun: Bitcoin will take a long time to achieve quantum-resistant consensus, and Tron plans to upgrade to a quantum-resistant network by the end of this year.

Justin Sun stated at Hong Kong’s "Bitcoin Asia 2026" conference that quantum threats pose a widespread risk to blockchain technology and the entire global financial system, with traditional banks including JPMorgan also facing such risks. However, due to the Bitcoin community’s high level of decentralization—encompassing multiple participants such as miners, exchanges, and WBTC—reaching consensus on anti-quantum measures would take a long time. Sun also noted that TRON has been developing anti-quantum mechanisms over the past year; it released an anti-quantum address scheme in the first half of this year, which has been deployed on the testnet, and plans to upgrade its entire network to an anti-quantum mainstream cryptocurrency network by the end of this year.

CZ: Diversification of crypto assets will be more beneficial for Bitcoin.

Binance founder Changpeng Zhao (CZ) told attendees at the Bitcoin Asia 2026 conference that the crypto industry would develop far more slowly if it only consisted of Bitcoin. "Having other blockchains does not weaken Bitcoin; Ethereum, BNB Chain, and other networks actually help Bitcoin grow. Without alternative blockchains, Bitcoin would be smaller. What benefits Bitcoin also benefits other blockchains, so this industry is not a zero-sum game—there is no need to compete by taking from each other," Zhao said. Bitcoin has its own unique value: it is the largest cryptocurrency by market capitalization, the most decentralized, and will remain a reserve asset for a long time to come, Zhao noted. However, other blockchains offer more innovation, making it easier to test new concepts there. If Bitcoin can later adopt those innovations, that would be ideal, he added. "Most Bitcoin maximalists also recognize that pushing only Bitcoin is not always the best approach. I am a firm supporter of Bitcoin. This is a Bitcoin conference, now called Bitcoin Asia. In the early days, the entire crypto industry was referred to as the Bitcoin industry; we later started using the term 'crypto'." Zhao also pointed out that the term "crypto" is not ideal: most ordinary people find it too intimidating and overly mathematical, creating a sense of distance for non-mathematical audiences. He noted that "Web3" is a better name. "Terms and labels don't matter much to me. I strongly believe we should drive the entire industry forward. There should be multiple blockchains, exchanges, decentralized exchanges, and products—everything should be diversified. This fosters competition, more innovation, and greater momentum. Since the industry's core principle is decentralization, we should embrace diversity with an open attitude, not pit one part against another."

CZ: The development of Real World Assets (RWA) will ultimately benefit Bitcoin, attracting U.S. stock market funds to enter the crypto market.

Binance founder CZ told attendees at the Bitcoin Asia 2026 conference: "Tokenized assets are a net positive for Bitcoin and the broader crypto industry. Those who understand Bitcoin will eventually explore other blockchains, tokens, and related areas; meanwhile, individuals entering the space through stock tokenization will also come to notice Bitcoin. For instance, right now in Hong Kong, Asians seeking to purchase US stocks face major barriers opening a brokerage account. For the small number who can secure US brokerage accounts, trading hours are highly inconvenient—US stock markets typically run from 11 PM to 4 AM daily. Tokenization actually democratizes access to stock markets, allowing people who couldn’t buy US stocks before to do so. They access these via crypto platforms, and once on these platforms, they are likely to gain exposure to Bitcoin that they wouldn’t have had otherwise. Over time, this effect will continue to build. So, what’s good for tokenized stocks is also beneficial for traditional stock markets and Bitcoin. I believe all these developments reinforce each other. The entire ecosystem is not a competitive space where one project goes up against another."

CZ: Bitcoin will become more important than gold in the future, and the shift by major powers will take time.

Binance founder CZ said at the Bitcoin Asia 2026 conference: "I believe Bitcoin will definitely become more important than gold. Yes, we must recognize that major countries need many years to make such a shift. They already have a complete system for valuing and holding gold, so it will take time for them to transition to Bitcoin or crypto assets—but this will absolutely happen. Bitcoin itself is a far better asset than gold."

A South Korean court has ruled that users who profited from Bithumb’s incident of mistakenly sending Bitcoin must return the unjust enrichment.

Seoul Central District Court on August 27 handed down its first-instance ruling in the incident involving Bithumb, South Korea’s second-largest cryptocurrency exchange, over its mistaken distribution of bitcoin (BTC), ordering relevant users to return approximately 194 million won in proceeds from selling the mistakenly sent BTC. Bithumb had previously made an operational error in an activity reward program, mistakenly inputting BTC instead of won for rewards originally denominated in the local currency, leading to a total of around 620,000 BTC being misdistributed. In March, the exchange filed separate unjust enrichment lawsuits against four users who sold the mis-sent BTC and failed to return the proceeds; other related cases involve amounts of approximately 500 million won, 14.8 million won, and 5 million won. South Korea’s Financial Services Commission (FSC) earlier noted that the incident involved BTC with a book value of roughly 61 trillion won. (Digital Asset)

Binance founder CZ to appear at Bitcoin Asia 2026 Conference

Binance founder CZ appeared at the main venue of the Bitcoin Asia 2026 conference, holding a fireside chat with the host, with the session starting approximately 18 minutes behind schedule.

CZ: Bitcoin won't take 25 years to reach $1 million, and more practical use cases need to be implemented now.

Binance founder CZ stated at the Bitcoin Asia 2026 conference: "I don’t think it will take 25 years for Bitcoin to reach $1 million—it will happen much faster. But beyond its price, I believe we need more: greater practical utility. Bitcoin payments need to achieve widespread adoption. I think Bitcoin should become a reserve asset for retirement pension funds. You will see, all these things will come to pass, and more. Yes, within 25 years, I expect all of these to be realized."

Bitcoin multi-signature hardware wallet Frostsnap fixes two security vulnerabilities, team urges users to update as soon as possible.

Bitcoin multi-signature hardware wallet Frostsnap has released version 0.4.0, fixing two security vulnerabilities, and confirmed no user funds have been lost so far. The two flaws are: FSA-2026-001: Malicious signature requests can mark a transaction output as belonging to the user’s wallet; the device does not verify this claim or display it on the confirmation screen, which could lead to funds being sent to addresses the user has never encountered. FSA-2026-002: Change addresses may fall outside the wallet’s recovery scan range, causing apparent missing funds after backup and recovery, though the funds actually remain in the wallet. After the update, the app will prompt users to upgrade their device firmware, and firmware downgrade protection has been added. The team advises updating both the app and firmware without delay.

David Bailey: New signals indicate Bitcoin’s bear market is nearing its end, as the Bitcoin Asia conference draws a packed crowd.

Bitcoin Magazine CEO David Bailey posted on X that another signal indicating Bitcoin’s bear market is nearing its end has emerged, and the Bitcoin Asia 2026 conference venue was packed with attendees.

Viewpoint: Bitcoin faces multiple layers of resistance in the $83,000–$86,000 range, and leveraged positions have not been re-increased.

Glassnode’s market analysis shows that during Bitcoin’s current rebound window, U.S. spot Bitcoin ETFs recorded a net inflow of $2.23 billion, marking the strongest weekly inflow since 2026. Bitcoin continues to flow out of exchanges, while wallets of all sizes are accumulating holdings. Over the same period, Bitcoin futures open interest fell 11% in coin terms, with funding rates remaining largely neutral, indicating no significant reaccumulation of market leverage. From a market structure perspective, Bitcoin is currently in a recovery phase, but upward supply pressure is building. Data shows cost-base resistance from self-custody holders starting around $80,800, a dealer gamma flip point near $82,300, and multiple resistances in the $82,000–$86,000 range including short liquidations, long-term holder supply, and order book sell orders. Glassnode notes that the $83,000–$86,000 range is the core supply zone facing this rebound; if Bitcoin can hold above $83,300 while ETF inflows continue, it may signal the market is gradually absorbing this supply wall. On the downside, the cost base for short-term holders is around $70,000, while the $62,000–$65,000 range forms a more critical bottom support zone. The options market is not pricing in a clear directional breakout expectation; as of the September 25 expiry, the options-implied 70% middle outcome range is roughly $69,000–$89,700, overall pointing to Bitcoin continuing to oscillate between key support and resistance levels. Glassnode believes a break below $70,000 would first test the $62,000–$65,000 support zone; a drop back to near $62,900 would likely mean this rebound has been fully reversed.

A crypto whale closed its short positions to go long on Bitcoin, holding a position worth up to $43.72 million.

According to on-chain analyst Ai Yi (@ai_9684xtpa), whale address 0x604…0b21d previously shorted BTC worth $45.17 million between August 24 and 25, exiting the trade with a total loss of $831,000. Early this morning, the address switched to a long position, opening a 12x leveraged long order for 554.71 BTC, with the position valued at roughly $43.72 million — ranking as the 8th-largest BTC holding on Hyperliquid. Its average entry price stands at $80,140.6, and it is currently facing an unrealized loss of approximately $748,000.

Six Bitcoin addresses dormant for over 10 years have recently reactivated, transferring 553.59 BTC.

According to tracking by Galaxy Research, between August 16 and August 26, six long-dormant Bitcoin wallets that had been inactive from 2011 to 2014 sequentially initiated transfers totaling 553.59 BTC, worth roughly $40.15 million at the time of transfer. The oldest wallet, dormant since June 2011 for 15.1 years, moved 8.54 BTC; another wallet dormant for 14 years transferred 212 BTC, valued at around $13.66 million. The latest transfer involved 40 BTC from a wallet dormant for 14.2 years, with the destination address tagged to German crypto custodian Boerse Stuttgart Digital. Galaxy Research noted that two of the wallets carry the "Salomon Client Dusted" label, linked to litigation in New York's "John Doe" case over attempts to claim 39,069 long-dormant Bitcoin addresses. Additionally, recent hardware wallet security incidents may have prompted some long-term holders to move their assets, though the exact reason for the simultaneous "awakening" of these wallets remains unconfirmed.

Viewpoint: The Besant Effect is insufficient to bring Bitcoin back to a genuine bull market; this round of rally is mainly driven by short covering.

Bloomberg reporter Emily Nicolle wrote that Bitcoin has rallied 23% in a single week recently, marking its largest weekly gain in over three years and ending its sideways trend since summer. US Treasury Secretary Scott Bessent’s proposal to expand the scale of long-term Treasury repurchases sparked market concerns over US debt and dollar depreciation, pushing funds toward alternative assets like Bitcoin. However, after Bitcoin broke above $80,000 on Tuesday, it has stabilized again, and this catalyst alone is insufficient to drive the market back to a genuine bull run. Nicolle notes that Bitcoin’s narrative as a hedge against the U.S. dollar and inflation remains unsustainable. After Trump reintroduced threats of tariffs on China last October, Bitcoin dropped more than 12% in 24 hours, while gold hit a record high in the same period. Year-to-date in 2026, gold has risen over 7% cumulatively, and Bitcoin, even with its recent rebound, is still down nearly 10%. She argues that the simultaneous rise of gold and Bitcoin last week does not prove they share the same safe-haven attributes, as this crypto rally is largely fueled by short covering. Strategy chairman Michael Saylor called on traders to keep buying Bitcoin during the rally, but his company did not add to its holdings accordingly. Separately, the CLARITY Crypto Market Structure Bill remains stalled due to disagreements over ethical provisions and other issues; the Senate is expected to resume deliberations only in mid-September, leaving limited time ahead of the November midterm elections. Bitcoin has yet to establish a stable, compelling value narrative, and for daily payments, users still prefer stablecoins or cash.

A prominent trader says that if Bitcoin breaks through $83,000, it could trigger a short squeeze that would push the cryptocurrency to $95,000.

Well-known trader Killa stated that based on higher time frame structures, he is roughly 80% confident Bitcoin has formed a bottom. However, strictly following technical confirmation standards, the current trend has not yet fully shifted, as BTC has failed to reclaim and hold above the $83,000 high on the weekly timeframe. $83,000 is the key level to confirm a substantial trend reversal. If Bitcoin breaks above this range and secures market acceptance, traders should avoid blindly shorting subsequent rallies, as bears could face significant short squeezes that push prices toward $95,000. In the short term, he anticipates the market will remain range-bound.

Analysis: Bitcoin's next price movement may hinge on PCE data, Nvidia's earnings report, and Waller's remarks.

Bitcoin’s next move may hinge on three key events this week: the U.S. July PCE inflation data, NVIDIA’s second-quarter financial results, and remarks from Federal Reserve Chair Warsh at the Jackson Hole Symposium. After surging from around $63,000 to above $80,000, Bitcoin has now pulled back to below $79,000, with its 14-day Relative Strength Index (RSI) exceeding 70, indicating a short-term overbought condition. Markets expect the U.S. July core PCE to rise 3.2% year-over-year and 0.18% month-over-month, compared to 3.3% YoY and 0.13% MoM in June. A hotter-than-expected reading could reignite fears of Federal Reserve rate hikes, putting pressure on Bitcoin and the broader crypto market. CME FedWatch data shows the bond market currently assigns a nearly 38% probability to a 25-basis-point Fed rate hike in September. NVIDIA will release its second-quarter earnings after the market close on Wednesday. A strong beat on results could ease market concerns over AI capital expenditures relying on debt financing, and support risk assets. Since the start of 2025, the 90-day rolling correlation coefficient between Bitcoin and NVIDIA’s stock price has remained above 0.5 for most of the period. Traders will also be watching Warsh’s remarks on Friday. The U.S. Treasury’s recent plan to increase long-term Treasury repurchases to curb yield rises has been viewed by markets as a catalyst driving Bitcoin’s recent rally. Markets will monitor whether Warsh adjusts his previous stance favoring market-based pricing, and whether he expresses support for the Treasury’s related actions.

BlackRock: IBIT will continue to grow in scale, and currently holds over 765,000 Bitcoin.

According to Forbes, Bitcoin rose approximately 20% over the past week, breaking above $80,000 for the first time since May. BlackRock Digital Assets head Robbie Mitchnick stated that the size of the firm’s Bitcoin spot ETF IBIT “will continue to grow” as BlackRock expands investor access to and allocation channels for Bitcoin. The asset manager has lowered the minimum threshold for investors to directly exchange Bitcoin for IBIT shares from $25 million to $1 million. This mechanism allows eligible investors to convert their Bitcoin holdings directly into ETF shares without first selling Bitcoin on the market, potentially avoiding capital gains taxes from asset sales. Since its launch, IBIT has become the fastest-growing ETF across multiple size metrics, currently holding over 765,000 Bitcoin for investors, valued at roughly $60 billion. Mitchnick noted real-world risks including kidnappings, ransomware, and custody failures are driving some Bitcoin holders to shift all or part of their self-custodied assets into ETFs. Recent attacks on some Coldcard hardware wallets have further heightened market concerns about the security of self-custody. Data shows the 13 U.S. Bitcoin spot ETFs, led by IBIT, recorded their strongest single-week capital inflow in nearly 10 months. Talos researchers said Bitcoin’s roughly 23% weekly gain and corresponding volatility increase rank among the highest in history, with similar trends typically linked to above-average short-to-medium-term returns. Unlike the May breakout, which lacked ETF inflow support and subsequently pulled back, this week’s rally is backed by unprecedented structural buying pressure.

Bernstein: Bitcoin could surge to $150,000 by mid-2027, hitting a peak of roughly $300,000 in 2029

Bernstein forecasts that as "currency devaluation trades" gain traction, Bitcoin will hit a record high of around $150,000 by mid-2027, and could reach a peak of roughly $300,000 in this cycle by 2029. The firm also retained an "outperform" rating on Strategy (MSTR), but lowered its target price for the stock from $450 to $350, primarily citing its updated outlook on the Bitcoin market cycle and the equity dilution impact from Strategy’s accelerated stock issuance.

Jiang Zhuoer: Probability of Bitcoin falling back below $67,000 is very low, ETH remains the "engine" of this bull market.

Jiang Zhuoer, founder of BTC.TOP (莱比特矿池), noted in a post that on the first U.S. stock trading day after the weekend’s sharp rally, ETF fund flows are a key indicator to monitor. Data shows Bitcoin ETFs saw a net inflow of $314 million, while Ethereum ETFs recorded a net inflow of $180 million. U.S. stock funds are piling into longs, meaning this rally has been further confirmed by capital, making it highly unlikely for Bitcoin to fall back below its $67,000 starting point. Additionally, Ethereum ETF inflows equal 57.2% of Bitcoin’s inflows, a figure significantly higher than ETH’s 18.8% share of the total BTC market cap. Based on this, he believes ETH will continue to act as the "engine" of this bull market. With Trump’s strong embrace of blockchain and the advancement of the CLARITY Act, financial assets including the U.S. dollar, U.S. stocks, and U.S. Treasuries may become further on-chain, tokenized, and smart-contract integrated in the future. He holds that this will drive more traditional finance professionals to understand and invest in related blockchain ecosystems.

Analyst: Bitcoin on-chain capital inflows turn positive for the first time in nearly three months, yet demand strength remains at a historic low.

CryptoQuant analyst Axel Adler Jr. noted that Bitcoin’s on-chain fund flows showed directional improvement in the second half of August. The realized market cap relative to net position change rose to +0.10% on August 24, marking the first positive reading since May 28, and climbed further to +0.21% as of August 26, signaling the end of the net capital outflow state that had persisted for nearly three months. Meanwhile, Bitcoin’s 30-day apparent demand/new supply ratio has stayed above 1 for six consecutive days, with the latest figure at 2.52, meaning 30-day apparent demand is roughly 2.5 times the new BTC issued in the same period. This metric hit a low of -6.93 on August 2 and peaked at 3.16 on August 21. That said, the absolute strength of both indicators remains low. Since 2024, the median of realized market cap during positive periods stands at +3.24%, while the current +0.21% falls only in the bottom 3-4% of positive samples. The historical median of the apparent demand ratio when it is above 1 is 7.65, and the current 2.52 is also in the bottom 10% of readings. Adler added that the more critical signal at present is that fund flows have shifted from net outflow to small net inflow, and demand has once again outpaced new supply, though a robust new demand cycle cannot yet be confirmed. Going forward, it will be necessary to monitor whether realized market cap can stay positive and whether apparent demand can expand further.

Analysis: Bitcoin faces a key resistance level of $80,000; ETF inflows have supported its rally, but the risk of profit-taking is rising.

Bitcoin’s momentum has faded after recently climbing to near $80,000, as traders wait for U.S. inflation data and additional policy signals from the Federal Reserve. To date, the leading cryptocurrency has risen around 22% since August 20, a rally backed by robust capital inflows into Bitcoin ETFs. However, the sharp price increase has spurred profit-taking and technical overbought conditions, which could limit further short-term gains. From a technical perspective, the $80,000 level serves as a critical resistance zone for Bitcoin. If the cryptocurrency can hold a breakout above $83,000, its upside potential may expand further, with target ranges pointing to $95,000 to $100,000.

Bitcoin will see $6.4 billion in options expire this Friday, with $80,000 emerging as a key battleground for bulls and bears.

Approximately 81,700 Bitcoin options will expire on Deribit at 16:00 Beijing time this Friday, with a notional value of around $6.44 billion, which could further amplify market volatility. Of these, about 44,600 are call options and 37,100 are put options, with a put/call ratio of 0.83, indicating an overall bullish bias. The most concentrated strike prices for call options are $75,000 and $80,000, corresponding to open interest notional values of roughly $236 million and $157 million respectively. Deribit’s Chief Risk Officer noted that Bitcoin surged from around $62,000 to $80,000 over the past week, pushing a large number of call options into in-the-money territory and putting market makers under greater hedging pressure. Currently, options within 5% of the current price have a notional value exceeding $500 million. The approaching expiry could trigger more frequent gamma hedging, leading to a "pinning" effect on prices near key strike prices, or accelerated volatility after breaking through critical levels.

U.S. spot Bitcoin ETFs have attracted inflows for 7 consecutive days, with their year-to-date net outflow gap narrowed by more than half.

U.S. spot Bitcoin ETFs recorded net inflows for the seventh consecutive trading day on Tuesday, raking in $314 million in a single session, pushing their cumulative net inflows for August to $3.03 billion—just $390 million short of the October 2025 monthly inflow record. With recent sustained capital inflows, the year-to-date net outflow gap for U.S. spot Bitcoin ETFs has narrowed by more than half from its previous peak to $2.26 billion, while their total net assets rose to $99.05 billion, with cumulative net inflows hitting $54.36 billion. If the current trend continues, August is on track to be the strongest month for capital performance since October 2025. Meanwhile, U.S. spot Ethereum ETFs also posted net inflows for seven straight trading days, attracting $179.8 million on Tuesday, with cumulative net inflows of roughly $1 billion over the past seven sessions. As of press time, Bitcoin is trading at $78,880, down approximately 2% over the past 24 hours after briefly breaking above $80,000 earlier; the Crypto Fear & Greed Index has fallen from 74 to 65, though it remains in the "greed" zone.

Analysis: Bitcoin's long positions have remained stable recently, while short positions have continued to decrease.

According to on-chain data, since August 23, BTC long positions have remained at a relatively stable level. Following the price rise, the overall market has shown a neutral consolidation trend. Meanwhile, BTC short positions have continued to decline since August 17, indicating that some short funds are still continuously exiting the market. Analysts believe that current long positions in the market have not increased significantly, and future trends will still depend on whether the short covering trend persists. Earlier, analysts stated that Bitcoin would need to meet three conditions to trigger a full-scale rally: Hyperliquid whales turning bullish, Bitfinex whales completing BTC long position accumulation, and the disappearance of negative South Korean kimchi premium and negative Coinbase premium. Currently, Bitfinex whales have finished building their BTC long positions, and both the negative kimchi premium and negative Coinbase premium have vanished, meaning two of the three conditions have been fulfilled. The core focus of the market going forward will be whether Hyperliquid whales shift to a bullish stance; once this signal emerges, it could act as a catalyst for Bitcoin to launch a new round of upward movement.

Institutions plan to reduce costs for Bitcoin whales moving into ETFs; BlackRock reportedly lowers the in-kind conversion threshold for its IBIT Bitcoin ETF to $1 million.

BlackRock has drastically cut the minimum threshold for investors to directly exchange Bitcoin for shares of its spot Bitcoin ETF IBIT from $25 million to $1 million. The mechanism adopts the "in-kind creation" model, enabling investors to deliver BTC directly in exchange for ETF shares, skipping the need to first sell Bitcoin before purchasing ETFs, thus avoiding certain transaction steps and potential tax costs. Reports note Bitwise has also lowered its related conversion threshold from $100 million to $3 million. To date, IBIT has processed over $5 billion in cumulative in-kind conversions, up from $3 billion in October last year. As crypto asset theft, hacking and custody risks remain in the spotlight, a growing number of large Bitcoin holders are considering converting some of their self-custodied assets into regulated ETF products.

Yesterday, US Bitcoin spot ETFs recorded a net inflow of $314.3 million, while US Ethereum spot ETFs saw a net inflow of $179.8 million.

According to data from Farside, U.S. spot Bitcoin ETFs recorded a combined net inflow of $314.3 million yesterday. The breakdown is as follows: BlackRock’s IBIT saw a net inflow of $284.4 million, Fidelity’s FBTC brought in $15.4 million, Bitwise’s BITB had $3 million, MSBT $4.5 million, and BTC $7 million. Separately, U.S. spot Ethereum ETFs posted a total net inflow of $179.8 million, with BlackRock’s ETHA at $146.4 million, ETHB at $7.6 million, and Fidelity’s FETH at $25.8 million.

Whale Tracking: Yesterday, less than 2% of Bitcoin (BTC) short positions were liquidated, with traders flipping to long positions, while $34 million in long positions are once again nearing liquidation.

According to TradingBeats monitoring, short address 0x6046, which faced imminent liquidation if BTC rose just 2% yesterday, has closed out its short position of 559.36 BTC, incurring a loss of roughly $810,100. About 10 minutes after closing the short, the address immediately flipped to a long position, buying 428.287 BTC for approximately $34.59 million at an average entry price of $80,761. Its current position’s unrealized loss has since widened to around $677,100. Combined with the loss from the earlier short close, the address’s realized loss from the two directional swings plus current unrealized loss totals roughly $1.487 million, even exceeding its current account equity of about $1.277 million. As of press time, BTC is trading at $79,181. Its liquidation price stands at around $77,163, just 2.5% below the current price. The address currently has no visible BTC stop-loss or position-reduction orders. Previous news: If BTC rose another 2%, a whale that shorted $45.22 million yesterday would be forced into liquidation.

Bitcoin breaks through the $79,000 mark, with its 24-hour decline narrowing to 2.1%

According to HTX market data, Bitcoin has broken through the $79,000 mark, with its 24-hour decline narrowing to 2.1%.

TRON reached 400M total users in just 8.16 years, much faster than Bitcoin and Ethereum.

TRON reached 400M total users in just 8.16 years, much faster than Bitcoin and Ethereum. Bitcoin took 9.4 years to reach 400M users, while Ethereum took over 10 years.

El Salvador's Bitcoin payment experiment is nearly grinding to a halt, with a core developer witnessing firsthand the drying up of payments at 'Bitcoin Beach'

Bitcoin core contributor Jon Atack, who has resided in El Salvador since 2022, recently shared a firsthand account. When he paid for lunch with BTC at El Zonte, the famed "Bitcoin Beach", the clerk told him it was the shop’s first Bitcoin payment all month—an indication that BTC transactions in the area have shifted from common to nearly non-existent. When Atack tried to tip in sats, the three-year veteran staffer said he had forgotten how to use Bitcoin apps, describing the local Bitcoin payment ecosystem as "dead". Some travelers report scattered successful BTC payments in the region, and signs of Bitcoin acceptance still dot the town, but daily use has clearly declined. El Zonte was once the cradle of El Salvador’s Bitcoin narrative: in 2019, anonymous donors began distributing Bitcoin to the small town, and in 2021, El Salvador made BTC official legal tender. However, under a 2024 IMF loan agreement, El Salvador reclassified merchant Bitcoin acceptance as voluntary, triggering a sustained slump in on-chain payments. While Atack remains optimistic that El Salvador is still a leader in Bitcoin legislation and adoption, the payment fervor at "Bitcoin Beach" has effectively ebbed.

Garrett Jin added to his long Bitcoin position at an average price of $79,000, lifting his total position to $147 million.

According to EmberCN’s monitoring, the address of Garrett Jin, agent of the “BTC OG Insider Whale”, added 600 BTC long positions at $79,000 in the early hours, worth $47.4 million. He has held BTC long positions for three months, hitting a peak unrealized loss of $23 million in early July. Currently, he holds 1,868 BTC long positions (valued at $147 million) at an average price of $77,090, with an unrealized profit of $2.78 million. Separately, he opened short positions on 32,700 ZEC at an average price of $444 (valued at $25.28 million), now facing an unrealized loss of as much as $10.74 million.

The crypto market has seen a minor correction, with Bitcoin briefly falling below $78,000, while BNB, SOL, and ZEC dropped below their key price levels.

According to HTX market data, the crypto market has seen a minor downturn. Bitcoin briefly dipped below $78,000 this morning, and is now trading at $78,500. Ethereum stands at $2,443. SOL is priced at $96, after a pullback of over 3% following its break above $100. BNB fell below $700, now at $693. ZEC is at $774, having dropped below the $800 mark, with a nearly 7% decline over the past 24 hours. The total cryptocurrency market capitalization is down 0.4% in 24 hours, reaching $2.739 trillion. Leading altcoin movers: Gainers include BMT, which surged 54% in 24 hours to $0.023; ONG rose 17% to $0.1; PROM gained 14.6% to $4.12; FF, STX, TLM and others climbed over 10%. Losers: PEOPLE, STORJ, MUBARAK and others fell nearly 20% in 24 hours; PORTAL, JTO, ETHFI, DASH, MET and others dropped nearly 10%.

Opinion: Bitcoin’s full-scale rally still needs one final condition, and a Hyperliquid whale turning bullish could be the key

Crypto analyst CW stated in a post that Bitcoin will need to meet three conditions to kick off a full-scale rally: Hyperliquid whales turning bullish, Bitfinex whales completing their BTC long position accumulation, and the elimination of negative Korea Kimchi Premium and Coinbase Premium. So far, Bitfinex whales have finished building their BTC long positions, while both the negative Kimchi Premium and negative Coinbase Premium have disappeared—meaning two of the three conditions are already satisfied. The market’s core focus moving forward will be whether Hyperliquid whales shift to a bullish stance; once this signal emerges, it could act as a catalyst for Bitcoin to start a new upward trend. It’s worth noting that the above assessment primarily reflects the analyst’s personal views, and related premiums and whale position changes are generally only used as reference indicators for market sentiment and capital flows.

Bitcoin surges to a peak then drops below $80,000, with gold also retreating in tandem as market attention turns to PCE data and NVIDIA’s earnings report.

Bitcoin surged to $81,265 on Tuesday before pulling back, dropping as low as $78,111 and falling back below the $80,000 threshold. Gold weakened in tandem: spot gold fell nearly 2% to $4,605 per ounce, after hitting $4,697, its highest level since mid-May. Market trends show that the decline in U.S. Treasury yields no longer continued to drive gains for Bitcoin and gold, instead leading to a divergent pattern: U.S. stocks rose, while cryptocurrencies and gold weakened. The S&P 500 gained 0.2%, and the Nasdaq advanced 0.5%; meanwhile, the yield on the U.S. 30-year Treasury bond fell below 5.2%, approaching its lowest level since August 7. Analysts note that recent moves in U.S. Treasury yields remain a key driver of the crypto market. The U.S. Treasury Department earlier expanded its long-term Treasury repurchase program to ease upward pressure on long-dated yields, but amid the current inflation environment, the Federal Reserve’s room for interest rate cuts remains limited. Markets currently price in a roughly 61.9% probability that the Fed will hold interest rates steady in September. In the short term, market focus is shifting from Treasuries to the U.S. July PCE inflation data and the Jackson Hole Economic Symposium. Nvidia’s post-market earnings report on Wednesday could also act as a new catalyst for volatility in risk assets.

THORChain has rolled out its major version 3.20 upgrade, enabling native swaps of Monero (XMR) and Zcash (ZEC) for Bitcoin (BTC), Ethereum (ETH), and stablecoins.

THORChain has announced the launch of version 3.20, adding native cross-chain swap support for Monero (XMR) and Zcash (ZEC). Users can directly swap XMR and ZEC for BTC, ETH, and stablecoins without requiring wrapped assets, centralized exchange accounts, or surrendering custody of their funds. The upgrade also introduces Protocol-Owned Liquidity (POL) and Stable Reserve, while restoring support for Solana, Base, and BNB. The Stable Reserve enables zero-liquidity-fee swaps between stablecoins. This upgrade is expected to provide a new non-custodial trading path for users facing shrinking liquidity channels due to centralized exchanges delisting or restricting XMR.

Analysis: Bitcoin Holding Above $81,000 Could Mark a Key Signal of the Bear Market's End

Bitcoin surged roughly 25% over the past week, briefly hitting near $80,000, but market analysts note that the 50-week simple moving average (50W MA) remains a key technical resistance level to determine if the current bear market has truly ended. The average is currently trading in the range of approximately $81,000 to $82,000. Galaxy Research states that in past completed bear markets, BTC has seen the bear market bottom form 11 times when the asset reclaimed its 50-week MA. If Bitcoin can hold above this average at the weekly close, historical patterns suggest the current bear market is very likely over. Meanwhile, Bitcoin has broken above its 50-day, 100-day, and 200-day moving averages on the daily chart, signaling a sharp rise in short-term momentum. Some analysts believe this cycle’s low may already be in place, but with Bitcoin’s 7-day gain hitting roughly 25% and its 7-day Rate of Change (RoC) at an unusually high level not seen in nearly five years, historical data shows such extreme readings often precede short-term pullbacks or sideways consolidation rather than sustained straight-line gains. Going forward, the market will closely monitor whether Bitcoin can effectively break above and hold the 50-week MA to further confirm a trend reversal.

Bitcoin’s weekly RSI shows bullish divergence, market analysts reassess whether the bear market trend is over.

After Bitcoin rallied sharply by around 25% last week and briefly broke above $80,000, the market remains divided on the direction of its current trend. Technical indicators show Bitcoin’s weekly Relative Strength Index (RSI) has risen to 58.3, its highest level since the all-time high of $126,200 hit in October 2025, and it has formed a bullish divergence similar to that seen during the 2022 bear market bottom: prices had been making lower lows, while the weekly RSI formed higher lows. Jamie Coutts, chief crypto analyst at Real Vision, notes that weekly-level bullish divergences are highly valuable for judging long-term trends and cycle inflection points, with similar signals in the past often followed by further price gains. However, short-term indicators show signs of overheating: Bitcoin’s daily RSI has climbed to 82.93, its highest level since November 2024. Some traders are cautious about short-term pullback risks, but some analysts argue that it is not uncommon for RSI to stay above the overbought threshold of 70 for extended periods during historical bull markets. Additionally, Bitcoin’s two-month Stochastic RSI recently formed the expected golden cross, a potential bullish signal for a trend shift. However, this indicator only hit a low of 4.81 this time, failing to drop to near-zero levels as seen in signals before historical bear market bottoms, so the market still needs further observation to confirm whether this rally marks the official end of the macro bear market.

Bitcoin short squeeze reappears: Futures open interest falls to a five-month low, and the market’s leverage structure has become healthier.

Bitcoin has surged rapidly from around $62,000 to near $80,000 recently, marking its second-largest weekly gain in nearly five years. However, unlike previous rallies that came with massive leveraged capital inflows, open interest (OI) in Bitcoin-denominated futures has instead continued to decline in this cycle. Data from Glassnode shows that as of now, BTC-denominated futures OI stands at approximately 587,600 BTC, down from 645,800 BTC on August 14 and hitting a near-five-month low. Analysts believe this rally is driven more by short covering and short liquidations rather than a concentrated influx of new leveraged long positions. During this period, billions of dollars in short positions were liquidated, triggering a notable short squeeze that further pushed Bitcoin above $80,000. Meanwhile, the annualized funding rate for perpetual contracts remains below 10%, indicating that overall bullish leverage in the market is not overly crowded. Additionally, open interest in crypto margin futures has dropped to a historic low of around 52,000 BTC, accounting for just 11% of total market activity. The rising share of cash margin helps mitigate the cascading risk of "collateral shrinkage—forced liquidations—further price declines" during market downturns. Overall, current low participation in the derivatives market and a healthier leverage structure suggest this Bitcoin rally has stronger sustainability.