Bitcoin (BTC) — Onchain News & Whale Tracking

Bitcoin falls below $79,000, with a 0.14% drop over 24 hours.

According to HTX market data, Bitcoin has dropped below $79,000, with a 0.14% decline over the past 24 hours.

A BTC whale with a cost basis of roughly $45,000 per BTC has started offloading, selling Bitcoin worth $111.61 million.

Per Lookonchain’s monitoring, a crypto whale who had remained dormant for four years has sold 1,400 Bitcoin, valued at $111.61 million. The whale purchased 2,200 Bitcoin four years ago at an average price of $45,024, totaling $99.05 million. Notably, the whale did not sell even when their unrealized profits peaked at $178 million, but has recently begun offloading Bitcoin, and has now realized a profit of $76.5 million.

Analysis: Bitcoin’s moving average alignment remains bearish, with a key resistance level of $83,200 (the 365-day Simple Moving Average, SMA365)

CryptoQuant analyst Axel Adler Jr. stated that after a pullback, Bitcoin has reclaimed its short-term holder cost base of roughly $68,200. Meanwhile, with rising trading volume, the price has broken through the SMA200 (200-day simple moving average) level of around $69,000 and SMA111 of approximately $67,500. A large number of holders who bought recently are back in profit, easing the selling pressure from short-term holders who were in the red. However, Bitcoin’s moving average alignment still maintains a bearish structure: SMA111 sits below SMA200, and both are lower than SMA365’s roughly $83,200. This indicates the current move is merely a strong short-cycle recovery, not a confirmed reversal of the broader trend. The most critical upside resistance is the SMA365 level at $83,200. If the price stalls and pulls back at this level, the existing bearish structure will hold; if it can effectively reclaim it, this could mark the first serious evidence of a trend reversal. Key downside support lies in the $67,000 to $69,000 range, which encompasses both the short-term holder cost base and the dense zone of SMA111 and SMA200. As long as the pullback holds this range, short-term holders remain profitable, and the price stays above the moving averages, the market structure still holds upside potential; a break below would resume downside risks. The current market is leaning positive but has not yet fully entered a high risk appetite mode.

87% of the Bitcoin stolen in the Coldcard hack remain unmoved, totaling approximately 1,789.28 BTC.

Galaxy Research Head of Research Alex Thorn released the latest statistics showing that the Coldcard hardware wallet hack resulted in the theft of approximately 1,789.28 Bitcoin across 8,865 addresses, with a total value of roughly $114.7 million at the time of the breach. Of the stolen funds, 1,561 Bitcoin (87.3% of the total) remain in addresses controlled by the attackers and have not been moved. All Bitcoin stolen in the first three attack waves has been untouched, while only a portion of funds from later attacks have been transferred via mixing techniques including CoinJoin and peel chains. The statistics are based on 221 victim reports, covering 790.72 Bitcoin (44.2% of total losses). The median loss per victim is 1.04272 BTC, with over half of those affected losing more than 1 Bitcoin. Galaxy has shared the identified attacker addresses with cryptocurrency exchanges, compliance firms, and law enforcement agencies, aiming to enable fund freezing once the stolen assets enter centralized platforms. The unusually high share of Bitcoin remaining unmoved long after the attack may indicate attackers are waiting for a safer window to cash out, or alternatively create a time window for tracking and freezing efforts.

BIT-linked addresses liquidated $419 million worth of Ethereum (ETH) and Bitcoin (BTC) long positions, generating a profit of $55.095 million.

According to on-chain analyst Ai Yi (Twitter handle @ai_9684xtpa), BIT-related entities have a total of 11 addresses. These addresses previously held long positions in ETH and BTC worth a combined $419 million, and have since closed out the positions for a profit of $55.095 million. Currently, address 0xf78…6c581 holds 1,602.11 remaining ETH long positions, valued at $3.97 million, with an unrealized profit of $707,000.

Analysis: Bitcoin’s futures and spot demand are rising in tandem. Despite being overbought, trading against the trend is not advisable, and the strongest bullish momentum phase is approaching.

CryptoQuant analyst Darkfost noted that Bitcoin’s total demand has been rising steadily over the past 30 days, currently standing at around 170,000 BTC, with spot and futures demand growing in tandem. Although short-term overbought signals have become quite prominent, investors should avoid attempting precise market timing at this juncture. The market appears to have entered a demand-driven rally wave while continuously digesting profit-taking pressure. Historical patterns show that periods of synchronized growth in spot and futures demand often mark Bitcoin’s strongest upward momentum phases. The analyst emphasized that as long as this demand persists and continues to absorb short-term profit-taking, upward momentum could still hold even if the market enters overbought territory. This means the core variable to monitor now is not whether prices are too high, but whether demand is still effectively absorbing selling pressure. Only when demand shows signs of exhaustion and profit-taking begins to outweigh buying support will the rally likely come to an end. Until then, any contrarian trades based on overbought signals may run counter to strong demand-driven momentum.

Bitcoin falls below $80,000, with its 24-hour price gain narrowing to 3.38%

According to HTX market data, Bitcoin has dropped below $80,000, with its 24-hour gain narrowing to 3.38%.

Analysis: Bitcoin's 'new whale' cohort has taken profits exceeding $1.2 billion over the past three days, as markets await a balance in selling pressure.

CryptoQuant analyst Moreno noted that Bitcoin’s "new whale" group has realized over $1.2 billion in profits over the past three days, marking the largest profit-taking event in the group’s history. Of this total, roughly $614 million was earned on August 20 alone, the highest single-day profit on record. Meanwhile, Bitcoin’s price has rebounded above the short-term whale realization price of around $68,900. On August 23, BTC traded near $77,700, approximately 12.8% higher than the total cost basis of these "new whales". In prior months, some large whales that recently accumulated Bitcoin were sitting on long-term unrealized losses. This rally has completely reshaped their position structure, giving previously trapped capital a sudden opportunity to exit at break-even and lock in substantial profits. The current trend thus constitutes an important demand test. If BTC can hold steadily above the whale cost basis of around $70,000, while profit-taking gradually returns to normal levels, it signals that new demand is effectively absorbing distribution pressure, laying a foundation for the rally to continue. Conversely, if profit-taking remains elevated and the price falls back below this cost basis, the rally may be closer to a "break-even exit rally", with previously trapped holders turning into fresh selling pressure above. The market has now regained profitability; what remains to be proven is whether it can absorb the pressure unleashed by this profit release.

Strive CEO reiterates that the Bitcoin bull market has only just begun, and his long-term belief has never wavered.

US bitcoin treasury firm Strive (ticker: ASST) CEO Matt Cole has once again reaffirmed that the bull market has only just begun. He stated that while ASST’s stock hit a bear market low in February 2026 and external sentiment was extremely pessimistic, Strive’s team’s long-term conviction never wavered. “We clearly recognize the value of our bitcoin holdings,” Cole said. Executives and directors have been buying additional stock with their own capital, and some directors have joined the company full-time. This highly aligned internal conviction and execution capability laid the foundation for the performance delivered in the subsequent six months. Strive will not forget the steadfast shareholders who supported the company during its toughest times. Now, with the stock surging and market sentiment running high, the team’s core focus remains unchanged: the bitcoin bull market has only just begun, and we will continue to go all-in. Yesterday, Cole published a lengthy bullish article on bitcoin, citing the bitcoin/gold ratio chart. He pointed out that bitcoin has broken through against both the U.S. dollar and gold, signaling the end of the bear market and reinforcing that the next cycle will be the strongest in history. Cole believes three converging forces are creating an unprecedented favorable market environment for bitcoin: the long-term weakening of the U.S. dollar, rising demand for scarce assets in the AI era, and the re-strengthening of the BTC/gold ratio. According to market data from BIT (bit.com), Strive’s U.S. stock price nearly doubled in the past week, breaking above $20. Strive announced yesterday that it purchased 1,110 bitcoin last week at an average price of approximately $73,409, a significant increase from its prior weekly purchase volume. As of August 21, Strive holds a total of 21,356 bitcoin, plus 505,000 preferred shares of Strategy STRC (with a fair value of about $48.57 million) and roughly $171.9 million in cash.

Strive CEO Reaffirms Bitcoin Bull Market Has Only Just Begun, Long-Term Conviction Remains Unshaken

Matt Cole, CEO of U.S. bitcoin treasury firm Strive (ticker: ASST), has once again reaffirmed that the bull market has only just begun. He noted that despite ASST’s stock hitting a bear market low in February 2026 and extreme bearish sentiment among external investors, Strive’s team has never wavered in its long-term conviction. “We understand the value of our bitcoin holdings,” he said. Executives and directors have been buying additional shares with their own capital, and some directors have joined the company full-time. This high level of internal alignment in conviction and execution laid the foundation for the company’s performance over the following six months. The company has not forgotten the loyal shareholders who stood by it during its toughest times. Now, with the stock surging and market sentiment running high, the team’s core focus remains unchanged: the bitcoin bull market is just starting, and we continue to go all-in. Strive announced yesterday that it purchased 1,110 bitcoin last week at an average price of roughly $73,409, a significant increase from its prior weekly buying pace. As of August 21, Strive holds a total of 21,356 bitcoin, plus 505,000 shares of Strategy’s (STRC) preferred stock (with a fair value of approximately $48.57 million) and around $171.9 million in cash.

Yesterday, U.S. spot Bitcoin ETFs posted a net inflow of $337.6 million, while U.S. spot Ethereum ETFs recorded a net inflow of $115.6 million.

According to Farside data, U.S. spot Bitcoin ETFs posted a combined net inflow of $337.6 million yesterday. Of this, BlackRock’s IBIT saw a net inflow of $208.9 million, Fidelity’s FBTC $104.6 million, Bitwise’s BITB $3 million, Grayscale’s BTC $16.4 million, HODL $3.3 million, and MSBT $1.4 million. U.S. spot Ethereum ETFs recorded a total net inflow of $115.6 million, with breakdowns as follows: BlackRock’s ETHA brought in $90.9 million, Fidelity’s FETH $6.8 million, ETHW $0.9 million, ETHV $4.5 million, and ETH $12.5 million.

A trader opened a 50x leveraged long position on 49 Bitcoin for $90,000, notching an unrealized profit of $810,000.

According to Lookonchain’s monitoring, a trader turned $90,000 into $966,000 on Aster, generating over 10x returns. The trader deposited $90,000 and opened a long position of 49 BTC (valued at $3.95 million) with 50x leverage, resulting in an unrealized profit of $810,000 (+1025%).

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

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

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

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

Bitcoin surges past $81,000

According to HTX market data, Bitcoin has risen above $81,000, currently priced at $81,012, with a 4.51% gain in the past 24 hours.

Arthur Hayes: Bitcoin is expected to see a "parabolic rally" soon, investors should buy on dips.

Arthur Hayes said in an interview that he expects Bitcoin will soon experience a parabolic rally, with BTC’s price surging rapidly to hundreds of thousands of dollars. "Now is the time to hold BTC—buy the dip before it’s too late," he noted.

Tuesday got off to a strong start: Bitcoin extended its bullish momentum, hitting $80,000, while the three major U.S. stock indexes traded mixed.

US Treasury Secretary Scott Bessent announced on Monday local time that the United States will launch a new sanctions operation dubbed "Operation Economic Outcast" to further cut Iran off from the global economic system, warning countries and enterprises that continue to conduct business with Iran will face US sanctions risks. The move comes as the conflict between the US and Iran has dragged on for nearly six months. The US had previously pressured Iran via military operations and long-term economic sanctions, but the two sides have not reached an agreement on fully reopening the Strait of Hormuz and restricting Iran's nuclear program. According to market data from BIT (bit.com), US stocks closed on Monday: the Dow Jones Industrial Average rose 0.26%, the S&P 500 fell 0.28%, and the Nasdaq Composite dropped 0.76%. SK Hynix (SKHY.O) slid 4.9%, Micron Technology (MU.O) fell 5.8%, SanDisk (SNDK.O) dropped 6.4%, while Nvidia (NVDA.O) and Intel (INTC.O) each declined 3%. Per HTX market data, Bitcoin hit $80,000 again overnight for the first time in 101 days, surging nearly 30% in a week. It is now trading at $77,898, with a 1.25% 24-hour gain.

Bitcoin hits $80,000 again for the first time in 101 days.

According to HTX market data, Bitcoin has once again reached the $80,000 mark after 101 days, with a 24-hour increase of 3.62%.

ZachXBT: US crypto investment platforms BitcoinIRA and iTrustCapital suspected of data breaches this year.

On-chain detective ZachXBT stated that after reviewing relevant evidence, he suspects two U.S. crypto investment platforms, BitcoinIRA and iTrustCapital, suffered data breaches this year, though neither has publicly disclosed the incidents. The leaked information reportedly includes user profiles, portfolio holdings, banking details, custodian information, and verification statuses. ZachXBT added that in June 2026, an attacker exploited the compromised database information to target a BitcoinIRA user, stealing over $1.2 million in assets. He contacted both firms for comment on August 21, but has not received a response as of press time.

Trader 'Maji' adds to his 40x leveraged long Bitcoin positions, lifting the total to $39.45 million, at an average entry price of $78,890.2.

According to TradingBeats’ monitoring, Taiwanese crypto figure Jeff Huang, known as "Big Brother Maji", added a 40x long position in Bitcoin four minutes ago, lifting his Bitcoin long position to $39.45 million. The position has an entry price of $78,890.20 and a liquidation price of $62,268.27. Maji also holds long positions in Ethereum (ETH) worth roughly $62.5 million, with an average entry price of $2,390; HYPE long positions worth around $20 million (average entry: $79.4); and PUMP long positions worth $14.17 million.

Bitcoin drops over 2% in short-term trading, breaking below $78,000.

According to HTX market data, Bitcoin saw a short-term plunge of over 2%, breaking below the $78,000 threshold and currently trading at $78,362, after Trump announced he would raise tariffs on Canadian automobiles and steel to 50%.

Bitcoin surges past $79,000, with a 2.4% gain in 24 hours.

According to HTX market data, Bitcoin has firmly broken through the $79,000 level, with a 2.4% gain in the past 24 hours.

A crypto whale has opened a long position in Bitcoin (BTC) and Ethereum (ETH) valued at $71.8 million, with Bitcoin’s entry price standing at approximately $78,000.

According to monitoring by EmberCN, a crypto whale transferred 8 million USDC into Hyperliquid half an hour ago, opening long positions in BTC and ETH worth $71.8 million, with an unrealized profit of over $150,000. Notably, the whale opened the positions just before the release of news that the U.S. Treasury may deploy nearly $1 trillion to fund an expansion of the U.S. Treasury bond repurchase program. Its holdings are as follows: 600 BTC valued at $46.94 million, with an average long entry price of $78,032; 10,000 ETH valued at $24.89 million, with an average long entry price of $2,479.

Strategy announces the launch of the 'USD Cash' flexible liquidity tool, bringing its U.S. dollar reserves to $5.1 billion, while its Bitcoin holdings remained unchanged last week.

Strategy today announced the establishment of a dedicated U.S. dollar liquidity pool named "USD Cash" under its Digital Credit Capital framework. The pool will be used for general Bitcoin financial company purposes, including purchasing Bitcoin, paying preferred stock dividends and debt interest, repurchasing common or preferred stock, repaying convertible bonds, and increasing U.S. dollar reserves. The company emphasized that its existing USD Reserve policy remains unchanged, continuing to be exclusively used for supporting preferred stock dividends and outstanding debt interest payments. USD Cash, as a complementary tool, grants management more flexible capital deployment capabilities to respond faster to market changes and price dislocations in Bitcoin or the company’s securities. As of August 23, the USD Reserve balance stood at $5.1 billion, while USD Cash’s balance was $1.59 billion. Both figures include expected cash proceeds from sold but unsettled at-the-money (ATM) shares. During the week of August 17 to 23, Strategy sold 18,261,118 common shares of MSTR solely via at-the-market follow-on offerings, generating net proceeds of $2.0065 billion. Of this amount, $136.4 million was used to repurchase STRC preferred stock, $300 million was added to the USD Reserve, and the remainder was allocated to USD Cash. As of August 23, the company’s Bitcoin holdings totaled 840,447 coins, with a total purchase cost of $63.36 billion and an average purchase price of $75,385. No Bitcoin transactions were executed during the week.

Strive purchased 1,110 Bitcoin last week at an average price of approximately $73,409, bringing its total holdings to 21,356 Bitcoin.

US Bitcoin treasury firm Strive announced it purchased 1,110 Bitcoin last week at an average price of roughly $73,409, a significant surge from its previous weekly buying scale. As of August 21, Strive holds a total of 21,356 Bitcoin, alongside 505,000 preferred shares of Strategy STRC (with a fair value of approximately $48.57 million) and around $171.9 million in cash.

Bessent targets the trillion-dollar "emergency fund pool" to buy US Treasuries, giving the short-term market a boost; Bitcoin, Ethereum, gold and US Treasuries all rally across the board.

After news broke that the U.S. Treasury may draw nearly $1 trillion in Treasury General Account (TGA) funds to support its recently announced expanded U.S. Treasury bond repurchase program, the market received a short-term boost. U.S. Treasury Secretary Scott Bessent said such operations could even exceed this new minimum level. However, the Treasury did not specify at the time how it would fund these purchases. Per HTX market data, Ethereum rose above $2,500, while Bitcoin broke through $78,000. Per BIT (bit.com) market data, U.S. stock index futures pared some losses: S&P 500 and Dow Jones futures are currently down around 0.1%, and Nasdaq futures are down roughly 0.4%. U.S. Treasuries extended their rally, with the 10-year Treasury yield falling 4 basis points to 4.70%. Per Bitget market data, spot gold climbed above $4,670 per ounce, up 1.47% on the day.

Robinhood CEO: Long-term optimistic about Bitcoin, passionate about cryptocurrency.

Robinhood CEO Vlad Tenev stated in an interview with the podcast "The Iced Coffee Hour" that he uses Robinhood for personal trading, has traded cryptocurrencies for a period of time, is personally fond of crypto, and enjoys working alongside the community. He also shared his views on Bitcoin, noting that his investment portfolio is quite diversified, he holds a long-term optimistic outlook on Bitcoin, but will not make predictions such as Bitcoin’s price hitting $1 million in the future.

Viewpoint: Bitcoin short-term holders return to the profit zone, with potential selling pressure on the rise.

CryptoQuant analyst Axel Adler Jr. noted in a post that as Bitcoin’s price rebounds sharply, the proportion of short-term holder (STH) supply in profit has surged from 26.1% on August 17 to 74.9%, meaning nearly three-quarters of short-term holders who were previously in the red have returned to profitability. Meanwhile, the net trading platform flow of short-term holders turned positive from negative, rising to 28,600 BTC on August 24 and breaking through the key level of 25,000 BTC. Data shows that as the average realized profit of short-term holders turns positive, the amount of BTC they transfer to trading platforms has increased significantly, indicating rising potential selling pressure. If this indicator remains above 25,000 BTC while Bitcoin’s upward momentum slows, the risk of short-term profit-taking and distribution pressure in the market will further increase. The analysis points out that the rapid rebound in the profit proportion of short-term holders, paired with the simultaneous rise in inflows to trading platforms, reflects a coexistence of market recovery and potential selling pressure. If the profit supply proportion rises further above 90% while price momentum weakens, the risk of local overheating in the market will rise; conversely, if trading platform flow falls back to near zero and the profit supply remains above 50%, it is more likely that the market will enter a relatively healthy consolidation phase.

Bitcoin ETFs recorded inflows of $1.92 billion last week, marking the largest such inflow in nearly 10 months.

As Bitcoin prices surged, spot Bitcoin ETFs posted their strongest weekly net inflow in 10 months last week. Data indicates the 13 U.S.-listed funds attracted a net $1.92 billion, the highest such figure since October last year. The inflow came amid Bitcoin’s roughly 23% price jump last week, marking its largest weekly gain in over three years.

Strive CEO: Bitcoin bear market has ended, the strongest bull market in history may be coming

Strive CEO Matt Cole has published a lengthy bullish article on Bitcoin, citing the Bitcoin-to-gold ratio chart to note that BTC has broken through against both the U.S. dollar and gold. He argues this signals the end of the bear market and reinforces his view that the next cycle will be the strongest in Bitcoin’s history. Cole points to three converging forces creating an unprecedented favorable market environment for Bitcoin: long-term U.S. dollar weakness, rising demand for scarce assets amid the AI era, and the re-strengthening of the BTC/gold ratio.

Well-known trader Killa expects Bitcoin's correction will not be too large, and the range of 70,000 to 73,000 is likely to be the bottom.

Renowned crypto trader Killa posted a statement yesterday, noting that compared to Bitcoin’s 2022 bottom pattern, he expects the current Bitcoin pullback after a rally to be shallow, with $70,000 to $73,000 likely marking the bottom, and backing a subsequent breakout above the $80,000 mark. “I expect a range to form, allowing accumulation of long positions from chasing highs and liquidity building. The market may even see another liquidation sweep above $79,500 before finally heading toward the $70,000 low, followed by expansion,” Killa said. As a BTC-focused quantitative trader, Killa previously predicted the peak of this bull market in May 2025 and boasts over 200,000 followers on X. In mid-April, he shorted Bitcoin at $74,688, then shifted to long positions during the broad market sell-off on June 5.

Tether’s Bitcoin mining project in Uruguay has stalled due to a power contract dispute, with an estimated investment of up to $120 million.

According to Reuters, Tether’s bitcoin mining farm project in Uruguay has been shut down due to a power supply contract dispute with local state-owned power company UTE. The project’s investment is estimated at around $120 million. The two sides hold differing views on the contracted power supply volume: Tether regards the figure as a minimum guaranteed supply, while UTE considers it a cap on power delivery. As no new agreement was signed and power fees fell into arrears, UTE cut power to the two mining sites on July 25, 2025. Tether subsequently ended its local operations and laid off most of its staff. The Uruguay project was once seen by Tether as the "first step" in its push into the South American bitcoin mining market. However, Tether continues to expand its regional energy and mining footprint; it previously acquired a 70% stake in renewable energy firm Adecoagro and plans to use its surplus power for bitcoin mining.

Michael Saylor: The most remarkable breakthrough of Bitcoin is the conversion of economic resources into digital form.

MicroStrategy founder Michael Saylor said Bitcoin’s most remarkable breakthrough lies in its ability to convert economic resources into digital form and securely link them to individuals, households, companies, machines, or nations.

Bitcoin breaks through $77,000, with a 0.46% gain over the past 24 hours.

According to HTX market data, Bitcoin has topped $77,000, with a 0.46% gain in the last 24 hours.

Analysis: Bitcoin has seen sell wall accumulation near the $80,000 mark; further upside is required to confirm holders’ willingness to sell pending orders.

HODL15Capital data shows that Bitcoin sell orders around the $80,000 price level are primarily from the Binance trading platform. Specifically, Binance holds approximately $31.98 million in sell orders near $79,945, $13.2 million near $80,000, and $33.27 million near $82,500. Coinbase, meanwhile, has around $38.74 million in sell orders near $80,000. HODL15Capital notes that some of these sell orders have been pending for a long time: for example, Binance’s sell order near $80,000 has existed for about 99 days, while its sell order near $82,500 has been pending for roughly 108 days. As such, the firm believes the current sell wall may not be as strong as it appears. It will be necessary to wait for BTC to trade closer to $80,000 to confirm whether these pending orders are actually intended for sale, or if sellers will move their sell orders higher.

Analyst: Bitcoin’s weekly chart shows a strong reversal, potentially signaling the start of a new bull market cycle.

Crypto analyst Ali Charts stated in a post that two bear market end phases in Bitcoin’s history share a common trait: a strong weekly reversal candlestick that emerges unexpectedly for most market participants, acting as a trend reversal signal. Such rallies typically start with a short squeeze. As prices rise, bearish traders keep adding short positions; as the rally accelerates, these short positions get forced liquidated, further driving prices higher. Data shows Bitcoin posted a 31.98% weekly gain in 2019, a move that helped confirm the end of the bear market and the start of a new uptrend. In January 2023, amid extreme bearish sentiment following the FTX collapse, Bitcoin rallied 24.90% in a single week, defying widespread bearish expectations. A similar move may be unfolding in the current market. Many investors previously predicted Bitcoin would bottom in October based on the four-year cycle theory, but the cryptocurrency has surged from $62,700 to $79,500, notching a 26.81% weekly gain. He believes that if historical patterns repeat, this strong weekly reversal could serve as an early signal that Bitcoin is entering a new uptrend cycle.

Analyst: Bitcoin may soon form a "golden cross"; current market structure differs from the 2022 cycle.

CoinDesk analyst James Van Straten noted in a recent report that Bitcoin typically rallies several weeks before the formation of the so-called "Golden Cross" technical pattern. Currently, Bitcoin’s 50-day moving average (50DMA) and 200-day moving average (200DMA) have both turned upward, bringing the market close to a Golden Cross. In 2022, Bitcoin’s price never broke above the 200DMA, but the current market is forming a new structure. “This seems to be a new market phase,” he said. The Golden Cross is widely viewed by the market as a technical signal of a strengthening medium- to long-term trend, occurring when the short-term 50DMA crosses above the long-term 200DMA. However, this indicator is a lagging metric, used primarily to confirm trend shifts rather than predict short-term price moves. Glassnode data shows Bitcoin has rallied multiple times in its history ahead of the 50DMA crossing above the 200DMA. Notably, BTC has now reclaimed the area around the 200DMA, a stark contrast to the 2022 market cycle.

Bitfinex: Bitcoin's current rally is primarily driven by spot demand and short covering, with profit-taking emerging as the biggest risk.

Bitcoin has recently rallied to a multi-month high, with Bitfinex analysts noting the current upswing is driven primarily by spot buying and short covering rather than new leveraged funds, giving it longer staying power than a typical short squeeze. As all investors who bought bitcoin over the past five months are currently in unrealized profit, the key risk to the current rally comes from profit-taking flows into trading platforms. Bitfinex identifies the U.S. Treasury’s August 19 announcement to expand its long-term bond repurchase program as a major catalyst for the recent price action. The early stage of this rally was indeed fueled by short liquidations. On the same day, U.S. spot bitcoin ETFs recorded $297.6 million in inflows. However, subsequent price gains were driven mainly by spot buying. Looking at positioning, while bitcoin prices rose 10% to 11%, open interest (OI) increased by only around 4%, indicating spot demand and short covering are the primary drivers, with leveraged funds playing a limited role. Bitfinex points out that the $68,000–$69,000 range is a key current support level, near the average cost basis of bitcoin buyers over the past five months. Holding above this level will keep those investors in profit, reducing selling pressure from previously trapped positions during rebounds. On the funding front, U.S. spot bitcoin ETFs saw a single-day inflow of $606.29 million on August 20, the largest daily inflow since May 1, with BlackRock’s IBIT accounting for roughly 82% of that total. Bitfinex says if this inflow persists for a week, it will further strengthen the market’s demand structure. However, Bitfinex warns that the biggest current risk is a surge in profit-taking bitcoin flowing into trading platforms, which could trigger the largest sell-off since 2026. Analysts add that if real yields rise back to levels that previously pressured bitcoin below $65,000, macro factors could quickly impact the market.

Bitcoin falls below $76,000.

According to HTX market data, Bitcoin has dropped below $76,000, with a 1.9% decline in the past 24 hours.

US Congresswoman Tlaib, who opposed the CLARITY Act, was revealed to hold ETFs related to Bitcoin (BTC) and Ethereum (ETH).

According to a New York Post report, U.S. Democratic Representative Rashida Tlaib’s latest financial disclosure shows her roughly $1.2 million retirement investment account includes up to $15,000 in Grayscale Ethereum ETF and up to $15,000 in Bitcoin ETF. Both holdings are ETFs, not direct ownership of BTC or ETH. The disclosure documents indicate the account holds a total of 41 investments. Since U.S. lawmakers only disclose assets by amount brackets, Tlaib’s exact holdings in the crypto ETFs cannot be determined. Tlaib previously voted against the CLARITY Act, which supports the crypto industry, and backed a resolution aimed at banning "crypto corruption". The CLARITY Act is expected to be considered by the Senate in September after Congress returns from its recess.

Grayscale: Bitcoin’s current price may offer favorable entry points for long-term investors.

Grayscale Research Head Zach Pandl wrote in a post that while he generally advises investors against trying to time the market, judging from three aspects—structural adoption trends, market cycles, and macro risks—the current Bitcoin price may offer a favorable entry point for investors with a long-term investment horizon. Grayscale noted that sustained growth in government debt, expanding applications of blockchain technology in financial services, and generational shifts in portfolio construction all indicate Bitcoin’s long-term adoption trend remains solid. The current Bitcoin bear market has lasted roughly 10 months, while previous bear markets typically ran 11 to 12 months, suggesting the market may be in the late stage of a bear cycle. The macro environment remains a key source of uncertainty: if the Federal Reserve raises interest rates soon, Bitcoin could fall further; if it holds rates steady, the market may have already hit bottom. Grayscale added that structural adoption, cycle positioning, and overall macro outlook are currently relatively favorable, though future performance remains uncertain.

Crypto market maker Wintermute has transferred $57 million worth of Bitcoin (BTC) and Solana (SOL) to centralized exchanges (CEXs), sparking speculation that the firm is selling the assets.

According to Onchain Lens monitoring, crypto market maker Wintermute transferred 129,500 SOL tokens to Binance, valued at roughly $12.42 million. The firm also moved 169.5 BTC worth approximately $13.11 million, a transaction suspected to be for sale. Separately, 407.47 BTC were transferred through an intermediate wallet before being deposited into Coinbase, with a total value of around $31.36 million.

Well-known trader: Bitcoin has formed its bottom, with the next key resistance level at $80,000 to $83,000.

Prominent crypto trader Killa posted that Bitcoin has formed its bottom, with its price having reclaimed the cost basis of short-term holders. Previously, when Bitcoin was trading at $65,000, he stated: "Once it reclaims $67,400, trades in the mid-$75,000 range, and holds above the short-term holder cost basis, a bottom will have formed." However, Killa noted that before Bitcoin can target a rise to $90,000, it first needs to break through the $80,000 to $83,000 range.

U.S. spot Bitcoin and Ethereum ETFs posted a combined net inflow of $2.6 billion this week, marking the highest level since October 2025.

U.S. spot Bitcoin and Ethereum ETFs saw a combined net inflow of $2.6 billion this week, marking the highest level since October 2025. Of that total, spot Bitcoin ETFs pulled in $1.9 billion, while spot Ethereum ETFs took in $697.2 million. Both products recorded their largest weekly net inflows since 2026. This reversed the combined net outflow of $392 million from the prior week, representing a weekly fund swing of roughly $3 billion. Combined trading volume for the two ETFs rose to $29 billion, more than tripling from the previous week. Spot Bitcoin ETFs’ weekly trading volume surged from $6.9 billion to $22.1 billion, a jump of over 219%, while their combined net asset value (NAV) increased from $76.6 billion to $96.1 billion. The cumulative net inflow into spot Bitcoin ETFs since their launch has hit $53.7 billion. For its part, spot Ethereum ETFs notched their largest weekly net inflow since the week of October 3, 2025.

Standard Chartered: Bitcoin's year-end target of $100,000 may be too low, with its recovery likely to accelerate after October 6.

Standard Chartered Global Head of Digital Assets Research Geoff Kendrick stated that Bitcoin could approach its all-time high of $126,000 by the end of the year, with the related recovery likely to accelerate after October 6. "For the first time this year, there’s a risk that my end-of-year forecast of $100,000 might be too low," he said. Kendrick noted that the recent rally is mainly driven by short squeezes, while inflows into Bitcoin spot ETFs have also started to recover. Current open interest is low, which may leave room for more investors to re-enter the market amid rising prices. In February this year, Kendrick cut Standard Charter’s year-end Bitcoin target from $150,000 to $100,000, and lowered Ethereum’s target from $7,500 to $4,000. At that time, he had projected Bitcoin would fall to around $50,000 and Ethereum to roughly $1,400 before rebounding over the rest of the year.

Grayscale: Bitcoin May Have Bottomed Out, This Week’s Rally Serves as Key Signal of Cycle Reversal

Grayscale stated in a post that this week could mark a turning point for Bitcoin. Historical data shows Bitcoin typically bottoms after falling roughly 80% from its cycle peak. During the most recent bear market, Bitcoin has dropped around 50% from its cycle high to date, a smaller decline than in all prior cycles. The market has long debated whether Bitcoin would see a new downturn in the fourth quarter of 2026. While risks persist in the market, this week’s rally may signal that Bitcoin has formed a more solid bottom.

Short-term funds take profits, Bitcoin inflow to Binance hits new high since February.

Crypto analyst Darkfost noted in a post that Bitcoin has rallied more than 23% cumulatively over the past three days. As prices surged rapidly, signs of profit-taking began to surface, with roughly 53,000 BTC flowing into major exchanges—of which about 17,800 BTC was transferred to Binance. Notably, all of the 17,800 BTC that entered Binance came from short-term holders, especially investors with positions held for less than a day. By contrast, long-term holders who have held BTC for over six months did not send any BTC to Binance. This indicates the current round of inflows is driven primarily by short-term speculative funds, not structural selling by long-term holders. Data shows this marks the largest BTC inflow to Binance since February 2026. Back in February this year, short-term holders went through a notable market capitulation. Now, short-term funds are once again moving in and out of exchanges on a large scale, reflecting a sharp rise in speculative trading activity. These brief, sudden capital flows are also pushing crypto market volatility back up.

Cathie Wood: Get ready for the 'big rally' — Bitcoin still has a bullish target of $1.5 million

ARK Invest founder Cathie Wood said in an interview, "Bitcoin is gearing up for a new rally, and I am bullish on it eventually hitting $1.5 million." Wood has long stood by her $1.5 million price target for Bitcoin, even when most people thought she had "lost her mind." The core of the ARK founder’s bullish case for Bitcoin rests on three key pillars: institutional adoption, fixed supply, and Bitcoin’s gradual emergence as a true digital store of value asset. She has also repeatedly noted that a specific catalyst could significantly accelerate progress toward this goal: the U.S. government purchasing Bitcoin.

US Treasury repurchase operations unexpectedly pushed Bitcoin’s price up 25%, triggering $4 billion in short-position liquidations.

After the U.S. Treasury expanded its long-term U.S. Treasury bond repurchase operations, the 30-year U.S. Treasury yield fell from a 19-year high of 5.34% to around 5.19%, while Bitcoin rose roughly 25% in several days, briefly topping $79,000. Around $4 billion in cryptocurrency short positions were liquidated during this period, further amplifying the rally. The U.S. Treasury had earlier announced it would raise the size of its longest-dated Treasury repurchase operations from $2 billion per operation to $4 billion. Analysts noted that this operation is not equivalent to the Federal Reserve’s quantitative easing (QE); its main function is to improve the liquidity of older bonds and optimize the debt structure, but the market views it as a policy support signal for long-term U.S. Treasury yields. Analysts believe the key driver of Bitcoin’s recent rally is not the repurchase operation itself, but the market’s prior over-concentration of short positions. As long-term U.S. Treasury yields fell, short sellers were forced to cover their positions, triggering a powerful short squeeze. Meanwhile, U.S. spot Bitcoin ETFs saw a net inflow of around $650 million this week, and Trump once again urged Congress to advance the CLARITY Act, further boosting market risk appetite. Jeff Ko, chief analyst at CoinEx, said the key now is whether Bitcoin can hold its 200-day moving average around $69,000 and turn it from resistance into support. Market participants also warned that if the 10-year U.S. Treasury yield re-breaks above 4.7% and the 30-year yield approaches 5.3%, Bitcoin’s current breakout could face renewed tests. Bitcoin has now broken above its 200-day moving average and continues to rise; the next phase of the market will focus on whether it can sustain its rally in a high-yield environment.

Strategy's Bitcoin holdings have generated an unrealized profit of $1.7187 billion.

Strategy currently holds 840,447 Bitcoin, with a total cost of $63.36 billion and an average entry price of $75,385. At Bitcoin’s current price of $77,430, the company’s Bitcoin holdings now have an unrealized profit of $1.7187 billion.