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MarketEditor’s PickCryptocurrency Market News<a href="https://xpertsstudio.com/bitcoin-faces-80000-test-as-thinner-weekend-liquidity-looms/” title=”Bitcoin faces $80,000 test as thinner weekend liquidity looms”>Bitcoin (BTC) NewsRipple (XRP) News
Aug 21, 2026
3min read
byLuis Blanco
forBeInCrypto
Crypto markets saw a powerful short squeeze and on-chain momentum, with Bitcoin trading above $79,000 (about +24% weekly) and XRP near $1.40 (+31% weekly), triggering an MVRV cycle-bottom signal and billions in leveraged liquidations. Supportive US policy moves (doubled Treasury long-term buybacks and White House backing for the CLARITY Act), plus key technical tests—BTC $78k–$80k resistance and XRP weekly 20/50 EMAs at $1.20–$1.50—and potential ETF flows suggest the rally could broaden adoption and sustain gains, though a short consolidation or pullback remains a risk.
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In Brief
- Bitcoin and XRP surge toward strongest weekly closes since 2024 after a massive short squeeze.
- BTC hits $79,000, up 24% weekly; XRP $1.40, up 31%, as MVRV flashes a cycle bottom signal.
- A healthy consolidation after such a sharp move would not be unusual and could set the stage for the next leg higher.
Bitcoin and XRP are surging toward their strongest weekly closes since 2024, powered by a historic short squeeze and a wave of supportive policy signals from Washington.
On-chain data now adds another layer, hinting this rally could mark more than a temporary bounce.
Bitcoin & XRP Prices Performance
Bitcoin and XRP Surge as On-Chain Data Flashes a Rare Bottom Signal
The MVRV ratio compares Bitcoin’s current market value to its realized value, the average price at which coins last moved. Sharp vertical rises in this metric have historically preceded major cycle bottoms.
Bitcoin trades above $79,000, up roughly 25% over the past seven days and more than 13% in the last 24 hours Analysts called this the biggest weekly gain since February 2024, adding approximately $280 billion to market capitalization in under five days
CryptoQuant analyst Crypto Dan flagged the MVRV signal as notable. He described the rebound as the first powerful signal in this bear cycle, echoing patterns seen at the end of previous downcycles.
“Bitcoin’s recent rebound is a signal that has emerged for the first time in this Bear cycle. The MVRV indicator, which measures Bitcoin’s present valuation, is showing a vertical rise. This signal is the very movement that appeared as the bottom range came to an end in every past downcycle. suggesting that the possibility of the market turning from decline to ascent is growing,” Crypto Dan said. Bitcoin (BTC).
XRP outperformed even more dramatically. The token changed hands near $1.40, up about 31% on the week and more than 18% for the day, after hovering near or below $1 just days earlier. Analysts called this XRP’s strongest week since November 2024.
A historic short squeeze drove most of the move. Billions in leveraged bearish positions were liquidated as prices broke higher, forcing sellers to buy back coins and accelerating the rally.
The US Treasury doubled long-term bond buybacks, while President Trump voiced support for the CLARITY Act at a White House meeting.
Crypto Market Liquidations – 24 Hours
What Comes Next for Bitcoin and XRP?
Technical analysts are watching key levels closely. Trader Ted pointed to Bitcoin’s powerful weekly candle, which has smashed through multiple resistance zones.
The next major test lies between $78,000 and $80,000, and a successful reclaim could signal the end of the bearish structure that has dominated since late 2025.
For XRP, analyst ChartNerdTA emphasizes the weekly 20 and 50 EMAs, which are currently trading between roughly $1.20 and $1.50.
A sustained reclaim of those moving averages would mark a genuine macro bullish shift, while failure to hold above them could trigger consolidation or a deeper pullback toward longer-term support.
The short-term momentum looks undeniable, though the market remains volatile. Traders will watch whether the rally transitions from squeeze-driven gains into sustained organic demand, particularly through ETF flows and continued on-chain activity.
A healthy consolidation after such a sharp move would not be unusual and could set the stage for the next leg higher.
Both assets have reminded the market how quickly sentiment can reverse when catalysts align. The coming days will reveal whether this breakout marks the start of a durable recovery or a temporary relief rally.
Source: cryptorank.io