$BTC 🔥 Bitcoin surged 23% in August, outperforming gold and the stock market! It’s firmly pinned above 78,000 and won’t budge—so is this a pit stop, or the night before a trend change? 🔥
Brothers, first take a look at a few numbers—then you can speak.
$BTC
📊 August data is explosive:
BTC gained 23% cumulatively in August, posting its best weekly performance since March 2023. The overall August rise exceeded 24%, making it the best August showing since 2017.
In August, shorts were liquidated to the tune of $6.55 billion—of which $3 billion in short positions were wiped out in a single week alone.
The 20-day correlation between BTC and the S&P 500 crashed from 0.43 to near zero, while the correlation with gold climbed to above 0.5. This is one of Bitcoin’s strongest “digital gold” performances ever.
⚠️ Three signals will determine the next direction:
1. ETF outflows begin. On August 28, there was a net outflow of $201.8 million, ending a record streak of 9 consecutive days of inflows.
2. Spot demand weakens. This rally was mainly driven by short liquidations, not strong spot buying. If there’s no follow-through from new buyers, the start of September may skew bearish.
3. The Fed turns hawkish. The probability of rate hikes for September has jumped to nearly 60%, and macro headwinds haven’t gone away.
🎯 Key levels:
· Overhead resistance: 78,000–80,000. A breakout could open the way toward 82,000.
· Support below: 76,000–77,000. If it can’t hold, a retest of 74,000 is likely.
📌 My take:
This is a normal pause during a trend—not a top reversal. If 78,000 holds, that’s a continuation pattern. If it doesn’t hold, it’s a pullback and buildup of energy.
Pit stop or trend change? It comes down to whether 78,000 can hold.
If it holds, next stop is 85,000. If it doesn’t, 74,000 will pick you up. 🐾🚀
#比特币8月上涨23%跑赢黄金股市 #比特币守稳78000美元上方
Brothers, first take a look at a few numbers—then you can speak.
$BTC
📊 August data is explosive:
BTC gained 23% cumulatively in August, posting its best weekly performance since March 2023. The overall August rise exceeded 24%, making it the best August showing since 2017.
In August, shorts were liquidated to the tune of $6.55 billion—of which $3 billion in short positions were wiped out in a single week alone.
The 20-day correlation between BTC and the S&P 500 crashed from 0.43 to near zero, while the correlation with gold climbed to above 0.5. This is one of Bitcoin’s strongest “digital gold” performances ever.
⚠️ Three signals will determine the next direction:
1. ETF outflows begin. On August 28, there was a net outflow of $201.8 million, ending a record streak of 9 consecutive days of inflows.
2. Spot demand weakens. This rally was mainly driven by short liquidations, not strong spot buying. If there’s no follow-through from new buyers, the start of September may skew bearish.
3. The Fed turns hawkish. The probability of rate hikes for September has jumped to nearly 60%, and macro headwinds haven’t gone away.
🎯 Key levels:
· Overhead resistance: 78,000–80,000. A breakout could open the way toward 82,000.
· Support below: 76,000–77,000. If it can’t hold, a retest of 74,000 is likely.
📌 My take:
This is a normal pause during a trend—not a top reversal. If 78,000 holds, that’s a continuation pattern. If it doesn’t hold, it’s a pullback and buildup of energy.
Pit stop or trend change? It comes down to whether 78,000 can hold.
If it holds, next stop is 85,000. If it doesn’t, 74,000 will pick you up. 🐾🚀
#比特币8月上涨23%跑赢黄金股市 #比特币守稳78000美元上方
