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Bitcoin whale buying hints at a bullish shift and potential short squeeze toward $70k.

Market News
19 Aug 2026
AMBCrypto
View Source
Bullish
pluang ai news

Bitcoin is showing signs of a bullish transition from short-term to long-term holders, as whales have accumulated $2.64 billion worth of BTC in the last two months despite selling pressure from other sources like the Royal Government of Bhutan. This accumulation suggests strong conviction among large holders and supports Bitcoin's resilience amid macroeconomic challenges such as rising Treasury yields and geopolitical tensions. Bitcoin's steady consolidation near $65k, contrasted with a weaker Nasdaq, may set the stage for a bear trap that could trigger a short squeeze pushing BTC above $70k by the end of Q3.

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