Our latest Bitcoin analysis examines the ongoing sideways consolidation within the context of an Elliott Wave 1-2 setup. While short term momentum remains positive following recent gains, the price is currently testing significant resistance zones, including the 50-week simple moving average. We evaluate the likelihood of a wider wave 4 correction versus an immediate continuation higher, keeping a close watch on the defined support levels to maintain our current forecast. Video by More Crypto Online.
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As of August 26, 2026, Bitcoin (BTC) is trading around $78,000 to $79,000 (approximately €67,370), pausing to consolidate after briefly piercing the psychologically important $81,000 threshold on Tuesday.
The digital asset has notched an impressive 23% to 25% rally over the past week, effectively shaking off a stagnant summer. However, it remains roughly 38% below its all-time high of $126,200 established in October 2025.
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Bitcoin Insights Today
-The "Bessent Bounce" & US Treasury Intervention: The primary driver behind the massive multi-day breakout was an announcement by US Treasury Secretary Scott Bessent to significantly ramp up long-term bond-buying programs. This move sparked fresh "dollar debasement" and institutional fiscal anxieties, aggressively fueling alternative scarcity assets like Bitcoin and gold.
-Record Institutional Inflows: U.S. spot Bitcoin ETFs have recorded immense demand, pulling in $314 million in net inflows on Tuesday alone. Total spot ETF inflows for August 2026 have now surpassed $3 billion, proving that institutional appetite remains foundational to this leg of the rally.
-Macroeconomic Data Wait-and-See: Price momentum slowed today as crypto traders universally position themselves ahead of upcoming U.S. Personal Consumption Expenditures (PCE) inflation data. A hotter-than-expected print could trigger interest rate concerns and force a short-term crypto pullback.
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