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Bitcoin rallies over 10%, breaks resistance above $69K amid massive short liquidations and institutional buying

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

Bitcoin surged by more than 10%, pushing its price above $69,000 and its market cap over $1.4 trillion. This rally was driven by strong buying from institutions, whales, and retail traders, alongside a record $2.66 billion in short liquidations, the largest ever in crypto markets. Bitcoin broke out of a two-and-a-half-month trading range between $59K and $67K, signaling potential for further gains toward $70K and possibly $75K if it holds above key support levels. However, significant long liquidation levels below $67K pose a risk of a downside price sweep before any sustained upward move.

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