Bitcoin fluctuated in the vicinity of $766 million on 23 August, rising to $795 million for two days. The market revisited whether an empty judgement had failed at the beginning of the year, but in real terms, prices did enter between $58,000 and $62,000 at this year ' s round-up before they were repaired.

Target has been compromised at the beginning of the year.

In January this year, when Bitcoin was still in the vicinity of $9.24 million, Peter Brandt, a senior trader, had determined that prices could go down to $58,000 to $62,000. Although the time window he gave was short, the price range was then actually touched in the 2026 return.

On 1 July, Bitcoin fell to about $577 million, with some data recorded near $583 million. Thereafter, the price stayed close to the target zone for some time before it gradually rebounded. As a result, the current repositioning of $76,000 above does not provide a direct indication that the previous next-line target is completely invalid.

The technology changes and turns to more.

Brandt adjusted the original judgement with the subsequent trend. He indicated that Bitcoin had previously developed a reverse shoulder form, which had changed the market structure after breaking the neck line, so he chose to buy it after the break.

This means that the lower judgement of the preceding period and the subsequent shift are not the same thing. The former corresponds to price targets at the recall stage, while the latter is recognized on the basis of new technology patterns. The article mentions that Brandt has not recently given a clear top-line goal, but only a number of price areas that may generate support or resistance.

ETF funds and empty silos drive the rebound

From 17 August to 21 August, bitcoin rose from approximately $6.27 million to $795 million, a phase increase of nearly 27 per cent. Prices then fell around $766 million, but the cumulative increase in 7 days still exceeded 20 per cent.

One of the important thrusts of this round, which rose at the beginning, was the passive silo of empty leverage. The increase was further amplified by the fact that traders holding empty slots were forced to buy back as prices broke through critical positions.

At the same time, spot demand is increasing. The United States current bitcoin ETF recorded a net inflow of about $606 million on 20 August, with a net inflow of about $517 million the previous day and a cumulative net inflow of about $1.92 billion over five consecutive trading days. Continued ETF inflows are more direct support to the situation than relying solely on derivative silos.

  • Net inflows on 20 August were about $606 million
  • Net inflows to the previous day were about $517 million
  • 5 Cumulative net inflows of about $1.92 billion per transaction day

U.S. Treasury operations to drive the macro-level environment away

The market rebound was also accompanied by changes in the liquidity environment of the United States debt market. On 19 August, the United States Department of the Treasury announced that it would at least double the single cap on long-term liquidity support buy-backs.

Under the disclosure arrangements, the current ceiling of $2 billion per trip will be raised to at least $4 billion from 9 September, covering 10 to 20 years and 20 to 30 years of State debt. Following the announcement, the United States long-term national debt return fell, the United States dollar weakened, and bitcoin went up in tandem with scarce assets such as gold.

Next, market concerns are whether Bitcoin will be able to stand back and hold back $795 million. If this position cannot be stabilized, the low $70,000 area may again become the focus of short-line observations.