In this video:Bitcoin blasts through key levels of resistance, but is the bear market over? Could this recent recovery be a bear market rally? What could this breakout in bitcoin likely mean for rest of 2026? We explain. Video by Alessio Rastani.
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Bitcoin is trading slightly lower today, Saturday, August 22, 2026, holding at $76,892.78 as it consolidates following its best weekly performance in over two years. After rallying more than 22% from its weekly open, the digital asset hit an intraday high of $78,767.34 before facing profit-taking and technical resistance.
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The parabolic momentum from Friday has cooled down over the weekend due to shifts in liquidity and profit-taking:
-Long-Term Holder Distribution: The rally stalled just below $78,000 as several long-term wallet holders moved coins to exchanges. Data shows some distributions occurred at an average 20% loss relative to late-2025 purchase points, adding localized selling pressure.
-Massive Derivative Shakeout: Over $1.6 billion in total crypto positions were liquidated within a 24-hour window. Uniquely, the flush was balanced, taking out $866 million in long contracts and $797 million in short positions, neutralizing short-term leverage.
-The Weekend Liquidity Dip: With U.S. Spot ETFs paused for the weekend after pulling in a strong $307 million on Friday, spot market trading volumes have naturally thinned out. This leaves price action primarily at the whim of retail derivatives.
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