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Record short squeeze propels Bitcoin rally past $80K, but $83K resistance looms.

Market News
02 Sep 2026
Bitcoin
View Source
Bullish
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A historic short squeeze on August 19 triggered Bitcoin's rapid price surge past $80,000, marking the largest single-day short liquidation since 2019. Bears lost $1.74 billion as forced liquidations pushed the price upward, with U.S. spot Bitcoin ETFs adding over $2.2 billion in net inflows the following week, sustaining the rally. However, Bitcoin now faces a critical resistance zone between $83,000 and $86,000, where long-term holders may sell or hold, posing a major test for further gains. Support levels near $70,000 and $62,000-$65,000 remain key for bulls to defend.

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