On August 22, Grayscale published an article indicating that this week could mark a turning point for Bitcoin. Historical data shows that Bitcoin typically bottoms out after falling about 80% from its cycle peak. In the recent bear market, Bitcoin has dropped about 50% from its cycle high, which is less than in all previous cycles up to this point. There has been ongoing market speculation about whether Bitcoin will experience a new round of declines in the fourth quarter of 2026. Although risks remain in the market, this week's rise may suggest that Bitcoin has formed a more solid bottom.
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Grayscale: Bitcoin May Have Hit Bottom, This Week's Rise Signals Key Cycle Reversal
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On August 22, according to CoinGlass data, the total liquidation amount in the cryptocurrency market reached $1.244 billion in the past 24 hours, with long positions accounting for $744 million and short positions for $500 million. A total of 246,203 individuals were liquidated. Among them, the liquidation amount for BTC was approximately $194 million, for ETH about $277 million, for SOL around $104 million, for XRP about $123 million, for ZEC approximately $66.77 million, and other assets totaled about $479 million in liquidations. The largest single liquidation in the past 24 hours occurred on the BTC-USD trading pair on Hyperliquid, valued at approximately $24.96 million. -
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On August 22, according to CoinGlass data, the total liquidation amount in the cryptocurrency market over the past 24 hours reached $1.244 billion, with long positions accounting for $744 million and short positions for $500 million. A total of 246,203 individuals were liquidated. Among them, the liquidation amounts were approximately $194 million for BTC, $277 million for ETH, $104 million for SOL, $123 million for XRP, and about $66.77 million for ZEC, with other assets totaling approximately $479 million in liquidations. The largest single liquidation occurred on the Hyperliquid BTC-USD trading pair, valued at approximately $24.96 million. -
Grayscale: Bitcoin May Have Reached Bottom, This Week's Rise is a Key Signal for Cycle Reversal
On August 22, Grayscale published a statement indicating that this week could mark a turning point for Bitcoin. Historical data shows that Bitcoin typically bottoms out after falling about 80% from its cycle peak. In the recent bear market, Bitcoin has dropped about 50% from its cycle high, which is less than the declines seen in all previous cycles. There has been ongoing market speculation about whether Bitcoin will experience a new downturn in the fourth quarter of 2026. Although risks remain in the market, this week's rise may suggest that Bitcoin has formed a more solid bottom. -
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