Bitcoin Rally Gains Momentum After Record Short Squeeze, but $83K Resistance Looms
Bitcoin’s rebound toward $80,000 was triggered by a historic short squeeze. With Glassnode reporting the largest single-day short liquidation event in its data since 2019.
On Aug. 19, roughly $1.74 billion in bearish positions were liquidated. While shorts represented about 85% of forced closures. The rally was later supported by more than $2.2 billion in weekly U.S. spot Bitcoin ETF inflows, the strongest weekly intake of 2026.
However, Bitcoin now faces a major resistance zone between $83,000 and $86,000, where approximately 1.05 million BTC held by long-term investors sits near its cost basis. Selling from holders looking to break even could limit further gains. On the downside, analysts identify $70,000 and $62,000–$65,000 as important support areas. Making the next move a key test of whether Bitcoin’s recovery can develop into a sustained bullish trend.
Clever Robot News Desk 3rd September 2026
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