Bitcoin Surges 10% in a Day to Top $77,000, Hitting a Three

Bitcoin Surges 10% in a Day to Top $77,000, Hitting a Three-Month High

TradingKeyAuthorBlock Tao
Aug 21, 2026 8:17 AM

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On August 21, Bitcoin surged 10% to breach $77,000, reaching a three-month high with a five-day cumulative gain of 22%. This rally is driven by declining U.S. Treasury yields, favorable SEC compliance regulations, and over $1.1 billion in two-day U.S. spot ETF inflows. The market enters a primary upward trend supported by institutional capital and short liquidations. With the Sentiment Index at 71 indicating greed, Bitcoin could challenge the $82,000 Fibonacci resistance level. However, investors must monitor potential short-seller resistance near the $80,000 psychological threshold, which risks triggering a sharp, short-term pullback.

TradingKey – Bitcoin surged 10% to break through the $77,000 mark, hitting a three-month high with potential to extend its gains.

On August 21, Bitcoin (BTC) initiated a new wave of consensus, surging 10% today to break through the key $77,000 mark, trading at $77,124, setting a new three-month high. Over the past five days, Bitcoin prices have continued to soar, accumulating a gain of around 22% so far.

Recently, the U.S. Department of the Treasury expanded the government bond buyback limit to over $4 billion per operation, effectively pushing down Treasury yields and weighing on the U.S. Dollar Index (DXY). In addition, after the SEC passed the Crypto Asset Regulations to establish a registration exemption mechanism, compliance concerns for traditional financial institutions were resolved. This triggered another significant wave of large net inflows into U.S. spot ETFs, exceeding $1.1 billion in net inflows in just two days and accelerating Bitcoin’s price advance.

Bitcoin Spot ETF Fund Flows This Week, Source: Coinglass

Currently, Bitcoin prices have officially exited the previous liquidity wait-and-see phase, entering a strong primary upward trend driven jointly by spot demand and institutional capital. In addition, total short liquidations across the network spiked dramatically. Forced market-order liquidation buys combined with spot FOMO sentiment rapidly squeezed short liquidity, driving the price quickly past $77,000.

Bitcoin Price Chart, Source: TradingView

Based on current market sentiment and BTC price action, after breaking through $77,000, structural overhead resistance from trapped positions has been largely absorbed. Technicals show strong price-volume concurrence, establishing a medium-term upward channel. According to CoinMarketCap data, today’s Market Sentiment Index stands at 71, indicating that the market has entered a state of greed, though it has not yet reached extreme greed (above 80).

As long as the macroeconomic easing framework and spot ETF buying remain unchanged, after short-term consolidation and turnover, the market still possesses strong momentum to challenge $82,000. This marks the highest point of the rebound following this year’s sell-off and lies near the 0.382 Fibonacci resistance level. However, investors should be mindful of short seller pushback around the $80,000 psychological level, which could trigger a brief, sharp pullback.

This content was translated using AI and reviewed for clarity. It is for informational purposes only.

View OriginalDisclaimer: The content of this article solely represents the author’s personal opinions and does not reflect the official stance of Tradingkey. It should not be considered as investment advice. The article is intended for reference purposes only, and readers should not base any investment decisions solely on its content. Tradingkey bears no responsibility for any trading outcomes resulting from reliance on this article. Furthermore, Tradingkey cannot guarantee the accuracy of the article’s content. Before making any investment decisions, it is advisable to consult an independent financial advisor to fully understand the associated risks.
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