Bitcoin's (BTC) rebound toward its early-2026 highs now faces a supply range between $81,000 and $86,000 as a key hurdle, Glassnode said in its latest report.
Bitcoin’s latest rally, triggered by the U.S.
Treasury’s buyback expansion announcement last week, was further boosted by a major short-liquidation event on Aug. 19, the largest since 2019, according to the report.
"The rally consumed the modelled liquidation clusters in its corridor, cutting the fuel in its path by 86%," the report said.
The short squeeze deleveraged the market, shrinking futures open interest by 11% in coin terms.
