In this video I break down the latest Bitcoin price action to determine if the current bounce is a sustainable recovery or a trap. I analyze the ongoing C wave structure and examine whether the market is building the necessary five wave pattern to confirm a meaningful low. Video by More Crypto Online.
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Bitcoin (BTC) is trading between $69,185 and $71,818 as of August 20, 2026, marking a massive single-day surge of nearly 8% to 11%. This sudden upward push represents Bitcoin’s biggest daily gain since March 2026, driving the price to its highest level since early June.
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Bitcoin Insights Today
-US Treasury Yield Intervention: US Treasury Secretary Scott Bessent announced a major market intervention, at least doubling long-dated bond buybacks from $2 billion to $4 billion per operation. This move crushed US bond yields and weakened the dollar, sending a powerful liquidity signal that triggered intense risk-on behavior.
-White House Regulatory Support: President Donald Trump held high-stakes meetings with crypto industry leaders (including executives from Coinbase and Robinhood). Trump pushed for the passage of the stalled CLARITY Act and announced that the SEC is proposing new registration exemptions to help crypto startups raise capital.
-Record Short Squeeze: The unexpected spike caught bearish traders completely off guard. Over $1 billion in Bitcoin short positions were wiped out in an hour, culminating in roughly $2.7 billion in total crypto short liquidations over 24 hours—the largest wave of forced liquidations since 2021.
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