Brothers, Bitcoin has recently launched a thrilling rally! The price skyrocketed from around $63,000 to break through the $81,000 high, and is currently oscillating in the $80,000 range.
The voices of bears and bulls are in a heated debate—could this be the "main bullish wave returning," or is it simply a "short squeeze frenzy" caused by short positions being liquidated?
Today, we will dismantle the underlying logic of this wave of market movement, the core judgments of institutions and KOLs, and guide you on how to seize Bybit's latest 200,000 USDT trading competition benefits!
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1. Core Truth Dissection: Is It a "Squeeze" or a "Bull Market"?
Many brothers misunderstand this price increase, so let’s clarify one concept: this wave is a standard short squeeze.
Short Squeeze Principle:
Price skyrockets — shorts have insufficient margin and are liquidated — triggering the system to buy at market price for closing — further pushing up the price. During August 19-20, over $3 billion was liquidated across the network, with shorts accounting for over 90% (approximately $2.74 billion), setting a record for short liquidations in recent years!
The Real Driving Force: Besides shorts being forced to buy back, substantial investments in actual commodity (especially US stock ETFs) are aggressively entering. The net inflow into US spot Bitcoin ETFs reached $1.9 billion in a week (approximately $2.6 billion combined with BTC + ETH), creating a new high in almost 10 months and forming a triple combination of "macroeconomic liquidity easing + spot ETF rush + short liquidation."
💡 Four Core Macro and Capital Catalysts
Treasury Liquidity Move: The US Treasury announced it will raise the single-repurchase upper limit for long-term government bonds from $2 billion to over $4 billion, which the market interpreted as "indirect easing," urging capital to flow into inflation-resistant assets.
Massive Net Inflows into Spot ETFs: Institutional funds breaking their wait-and-see stance, making strong purchases for consecutive days.
Clearing Key Resistance Levels: Previously, there were high-leverage shorts clustered around $62,000 – $67,000; breaking through this level triggered a chain reaction of liquidations with no blind spots.
Chinese Community Sentiment Reversal: When it was stagnant at $64,000, the entire network was silent; after one strong bullish candle, the entire network shouted bullish—this phenomenon of rising "amid skepticism" is a typical feature at the beginning of a bull market.
2. Institutional and KOL Opinion Panorama Comparison
Perspective / Representative | Core Opinions and Judgments | Suggestions and Strategies |
Arthur Hayes (Founder of BitMEX) | Clearly stated "the new bull market has begun". Believes that Treasury repurchases will elevate global liquidity, making BTC the most sensitive barometer. | Personal positions have been adjusted to "maximum risk imbalance/full exposure" status. |
CryptoQuant | The bull market index soared from 30 to 80. Spot demand is expanding at the fastest rate since the end of 2025. | Emphasizes that it needs to close firmly above $83,000 (365-day moving average) to confirm the major bull market. |
Dayu (@BTCdayu) | Firmly believes "the bull market has arrived", currently in the early stage of a bull market. There is a high probability of a 20% level pullback before reaching $90,000. | Barbell Strategy: Focus on allocating towards on-chain financial infrastructure, RWA, HYPE, and be cautious with holding MEME tokens. |
Bitwise / Strive CEO | Regulatory clarity, stablecoin scaling, a weakening dollar, and scarcity in the AI era support one of the strongest bull markets for Bitcoin ever. | Structurally bullish long term, the bear market has officially ended. |
Technical Cautious Camp | $82,000 – $83,000 is a strong resistance zone at historical highs; vigilance is needed for potential high-level pullbacks after "catch-up + short squeeze" before breaking through. | Pay attention to whether the daily can hold above $83,000; if it pulls back to around $70,000 and stops falling, it would be an excellent second entry point. |
3. Exciting New Offer: Bybit 200,000 USDT Trading Competition
Seizing this wave of market volatility and immense profit potential, Bybit has launched a new "Cryptocurrency Bull Market Returns" themed trading competition, with a total prize pool of 200,000 USDT!
By simply participating in spot or derivatives trading, you can long/short to capture market movements while unlocking large rewards and lucky draws!
📅 Event Time
From August 21, 2026, 12:00 to September 7, 2026, 12:00 (UTC)
4. Event Gameplay and Reward Unlocking Rules
🏆 Gameplay 1: Leaderboard Sprint (Spot Ranking + Derivatives Ranking)
Spot Leaderboard: Trade any non-zero fee spot trading pair, accumulating trading volume to compete on the leaderboard.
Derivatives Leaderboard: Trade contracts/derivatives trading pairs, aiming to make it onto the derivatives leaderboard.
Prize Pool Unlock Mechanism: The greater the total trading volume of all participants' spot and derivatives trades, the larger the total prize pool that gets unlocked (up to 200,000 USDT)!
🎲 Gameplay 2: Daily Tasks and Repeat Lucky Draws
Complete daily trading tasks during the event period to unlock lucky draw opportunities, with a single draw prize of up to 100 USDT in cash rewards!
5. Step-by-Step Competition Guide and Notes
Step 1: Click to Sign Up
You must log in to your account and go to the event landing page to click the [Register Now] button; only trading volume after signing up will count towards the statistics (not applicable for institutional users and market makers).Step 2: Choose your Track
Choose between long-term spot positions (e.g., buying BTC, RWA assets) or utilizing derivatives to hedge against volatility based on personal preference.Step 3: Compete on the Leaderboard and Lucky Draws
Meet the minimum trading volume threshold to make it onto the leaderboard, and don’t forget to complete daily tasks on the event page for lucky draws every day!
6. Exclusive Benefit Channel
Want to ride this major market wave and sprint for the 200,000 USDT prize pool? Quickly register through the exclusive channel:
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Official Telegram Community: t.me/aicoincn
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Disclaimer: This article is only a compilation of market information and product guide, and does not constitute any investment advice. Trading in cryptocurrency leverage and derivatives carries high risks; please establish strict stop-loss discipline and trade rationally.
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