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Picknexo · Review
Published August 23, 2026
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Updated: August 23, 2026 | PickNexo
The rally is still being supported by heavy ETF demand, a weaker dollar narrative and expectations that U.S. crypto regulation may become clearer. But the weekend tape is more cautious, with leveraged long positions being flushed out after the market moved too far too quickly.
This does not look like a full breakdown. It looks more like a reset after a powerful move. The key question is whether ETF inflows and spot demand can keep Bitcoin above the new support zone while traders digest the short squeeze and policy headlines.
Bitcoin reached the high-US$70,000 area this week after the U.S. Treasury's long-term bond buyback expansion helped push yields and the dollar lower. Investors.com reported that BTC hit a three-month high near US$79,463 before settling lower.
The weekend pause is not unusual after such a sharp move. Prediction-market and market-data snapshots today show traders focused on whether BTC can stay above the US$76,000 to US$77,000 area rather than immediately chase US$80,000 again.
For now, Bitcoin's first major support is US$70,000 to US$72,000. Holding that zone would keep the breakout intact. A clean break above US$80,000 would likely restart bullish momentum.
ETF flows are still the clearest sign of real demand. The Wall Street Journal reported that U.S. spot Bitcoin ETFs attracted around US$1.6 billion in net inflows from Monday through Thursday, including about US$606 million on Thursday alone.
This matters because the rally is not only about derivatives. When ETF products absorb fresh capital, Bitcoin gets a more durable source of demand from investors who prefer regulated access rather than direct token custody.
The next test is whether inflows continue after the first burst of excitement. If ETF buying remains strong while Bitcoin consolidates above US$70,000, the market will likely view the rally as healthier.
The market is also seeing a leverage reset. After short liquidations helped drive Bitcoin higher earlier in the week, weekend data showed forced selling from long positions as traders became too aggressive near the highs.
This kind of reset can actually be healthy if it removes excessive speculation without breaking support. The problem starts only if liquidations trigger broader spot selling or if ETF inflows fade at the same time.
For traders, the message is clear: the rally is real, but leverage can still punish late entries. After a 20% weekly move in Bitcoin, risk management matters more than chasing every candle.
Bitcoin.com reported that Grayscale sees this week as a potential turning point for Bitcoin after a relatively shallow bear-market drawdown. The argument is that institutional demand and a strong recovery may signal that a more durable bottom has formed.
Still, the turning-point thesis needs confirmation. Bitcoin must hold key support, ETF inflows must remain positive and macro conditions must avoid another sharp rise in yields or the dollar.
The bullish case is stronger than it was earlier this month. But the market is not risk-free simply because Bitcoin rallied quickly.
Strategy remains one of the most important corporate Bitcoin stories. Cointelegraph reported that Strategy's Bitcoin treasury moved back toward breakeven as BTC passed US$77,000, while the company also raised cash through MSTR share sales.
The current rally gives Strategy more breathing room, but investors are still watching how the company manages cash reserves, financing costs and future Bitcoin purchases.
For the broader market, Strategy's recovery helps sentiment. But it also reminds traders that corporate Bitcoin exposure can amplify both upside and downside.
Bitcoin.com reported that Paul Sztorc's ECX Bitcoin fork entered its Alpha phase and mined more than 25,000 blocks in about 13 hours after launching at Bitcoin block 963648. The network remains in testing and does not yet have a definitive market price.
At the same time, early technical activity does not guarantee long-term economic value. A test network can attract miners and curiosity, but it still needs liquidity, exchanges, wallets, developers and real user demand.
For investors, ECX is more of a technical story than a market catalyst today. It is worth watching, but it should not be confused with Bitcoin itself.
Cointelegraph reported that Solana has reduced its blockchain slot time to 350 milliseconds, its first reduction since genesis, as the network works toward a 200-millisecond target.
Solana still has to balance speed with reliability. High throughput is valuable only if the network can stay stable under heavy activity.
For the market, Solana's technical progress gives traders another reason to watch SOL if risk appetite broadens beyond Bitcoin and Ethereum.
Cointelegraph's latest Bitcoin coverage highlighted that public miners are spending heavily on AI and high-performance computing infrastructure, with capital expenditure far outpacing AI-related revenue so far.
The opportunity is diversification. The risk is execution. AI infrastructure requires large investment before revenue fully catches up, and not every miner will manage the transition well.
For investors, mining stocks are becoming more complex. Bitcoin price still matters, but power costs, debt, AI contracts and data-center delivery are now part of the valuation story.
Regulation remains a global theme. Cointelegraph reported that Vietnam has set fines for unlicensed crypto trading and AML breaches ahead of its regulated crypto market launch, while Russia's parliament is preparing final readings on a crypto bill.
Clearer rules can support adoption, but enforcement-heavy systems may also push activity offshore if they are too restrictive.
For investors, the key point is that regulation is becoming a market driver everywhere. Local rules can affect liquidity, exchange behavior and access to crypto products.
Security headlines are still important. Cointelegraph's latest feed highlighted Zilliqa asking exchanges to pause ZIL transfers after a suspected cold-wallet theft, while recent coverage also focused on firmware updates and wallet-seed protection.
Users and institutions need stronger custody practices, safer seed generation, better monitoring and faster incident response.
For the industry, security is not a side issue. It is part of the trust layer that must improve if crypto is going to absorb more institutional capital.
The first signal is Bitcoin's US$76,000 to US$77,000 weekend range. Holding that area would show that the market can absorb leverage resets.
The second signal is US$80,000. A clean break above that level would likely restart bullish momentum.
The third signal is ETF flow. Strong weekly inflows are positive, but the market needs to see whether buying continues after the weekend.
The fourth signal is leverage. Long liquidations show that traders became crowded after the rally, so open interest needs to rebuild carefully.
The fifth signal is policy. U.S. CLARITY Act momentum, global regulation and stablecoin rulemaking remain major drivers for institutional confidence.
Crypto markets are consolidating today after a powerful weekly rally. Bitcoin is holding near US$76,000 to US$77,000 after pushing toward US$80,000, while Ethereum remains much stronger than it was earlier this month.
The short-term picture is constructive but more cautious than Friday. ETF inflows remain strong, but weekend leverage is cooling the move.
The long-term picture still looks stronger. Institutional demand is returning, Grayscale sees a potential turning point, Strategy's Bitcoin treasury has improved, Solana is upgrading performance, miners are moving into AI and regulation is becoming clearer in multiple markets.
For investors, this is a market that rewards patience after a fast rally. For the industry, the message is clear: ETF demand, liquidity, policy, infrastructure and security are now all moving together in crypto's next major phase.
This article is for informational purposes only and should not be considered financial advice.
Sources: Investors.com, Wall Street Journal, Cointelegraph, Bitcoin.com: ECX Fork, Bitcoin.com: Grayscale Turning Point, Decrypt.