Bitcoin Hits $70K — Breakout or Short Squeeze?

[laspol65]

It doesn't look like it will last at the $71k region but I'm hoping it does because for sometime now, all we've been settling for is the $63-65k price and I'm not going to investigate what led to this surge, all I'd be interested in is if this would be the start to a new ATH.

Look, if we want to reach a new all-time high again, the cycle is far from over. So for now, it is temporarily increasing the price of Bitcoin, touching the $80K range. But it is very likely that it will gradually increase to $100K, at this position, if the price of Bitcoin continues to increase, many people may get greedy and give up their holdings. So it is temporarily increasing the price of Bitcoin, at any moment there will be an opportunity to buy Bitcoin again.

[coinrifft]

Your reasoning isn't bad when you say it's not the same now as when he won the presidency, but it has the same market tone at that time. The fact that Trump provides security for buying BTC makes investors very comfortable, and this was reflected in the price. I assure you that if Trump hadn't said those things, we'd still be at $63k or $64k.

Did I miss something? What exactly did Trump say this time? Is there anything new, or is he just repeating the same old promise he's been going on about since taking office?
How do you know Bitcoin would still be at $63k-$64k if Trump hadnt said those thing? That's just an assumption.

By the way, have you been watching gold and stock? They have been rising too in recent day, especially gold and Bitcoin has been moving quite similarly. So is gold going up because of Trump too?

He could be referring to a meeting that Trump organizes recently, and after that, the price suddenly exploded and here we are right now, in the $80k and there are a good chance that the bull run will not stop until the market takes some profits.

Although we said that Bitcoin is decentralized and no figure can affect it like Saylor or Trump for that matter, but news around them will make the investors jump and buy the news and this is what we are seeing right now. Couple of predictions in social media that the bear market is over, as if it is manifesting itself already.

[DanWalker]

He could be referring to a meeting that Trump organizes recently, and after that, the price suddenly exploded and here we are right now, in the $80k and there are a good chance that the bull run will not stop until the market takes some profits.

Oh, I looked into it and it was the meeting between Trump and crypto leaders on August 19. He mainly made 3 point, pushing congress to pass the Clarity Act, mentioning the Hype altcoin and reaffirming his support for crypto.
As I expected, there wasnt really anything new or noteworthy. It would be an exaggeration and biased to claim that those statements were behind Bitcoin's recent price increase.

Although we said that Bitcoin is decentralized and no figure can affect it like Saylor or Trump for that matter, but news around them will make the investors jump and buy the news and this is what we are seeing right now. Couple of predictions in social media that the bear market is over, as if it is manifesting itself already.

Bitcoin's network is decentralized, but its price isn't. Its price is still affected by geopolitics, interest rates and even people with influence like Trump. But Im pretty sure those same old statements werent what drove the recent rally.

[arwin100]

It doesn't look like it will last at the $71k region but I'm hoping it does because for sometime now, all we've been settling for is the $63-65k price and I'm not going to investigate what led to this surge, all I'd be interested in is if this would be the start to a new ATH.

Look, if we want to reach a new all-time high again, the cycle is far from over. So for now, it is temporarily increasing the price of Bitcoin, touching the $80K range. But it is very likely that it will gradually increase to $100K, at this position, if the price of Bitcoin continues to increase, many people may get greedy and give up their holdings. So it is temporarily increasing the price of Bitcoin, at any moment there will be an opportunity to buy Bitcoin again.

Make sense at all, but we don't actually know what's going to happen in future. Since what's more important nowadays is we have seen Bitcoin having a great rally.

Either it can possibly reach on $100k or not this year still its good, Because we have seen Bitcoin keep fighting back despite of those big issues happened and lots of threats like possible more dumping by some institution.

But well let those people became greedy, since after all we have different choice and strategy used. Since afterall its fine if they decide to liquidate as long as they already gain profit and think that's enough for them.

Anyways find this article have interesting take about the current situation https://en.cryptonomist.ch/2026/08/28/bitcoin-price-today-analysis-80k-momentum

[Zackz5000]

Im sorry to sound this way but I am always inside and out at the same time, don't get confused, what I meant is that I have Bitcoin that I am holding and also have some money set aside if we are go below 50,000...

Tell me a strategy that beats this, there is none I believe, there is no need for trying to catch a falling knife or FOMOing into Bitcoin, the most dangerous thing is running after every bullish candle, but if you are already in you are already a winner.

I'm sick and tired of guessing when the price will bottom, if you don't want to miss out its better to do as I did, nothing works better than DCA strategy and also have some Fiat set aside.

The DCA strategy stand to be the best strategy when accumulating Bitcoin, investors should consistently accumulate Bitcoin when they have their discretionary income and accumulate more with their reserve funds when the price goes low. I don't see any need waiting for some price before they can accumulate Bitcoin, when the price of Bitcoin was rapidly dropping i know there are some people that was waiting for the price to Dip more to buy, now they have miss some good buying opportunities by not accumulating when the price was low this is why investors should always DCA so they won't miss any opportunity in the market.

[Awaklara]

The DCA strategy stand to be the best strategy when accumulating Bitcoin, investors should consistently accumulate Bitcoin when they have their discretionary income and accumulate more with their reserve funds when the price goes low. I don't see any need waiting for some price before they can accumulate Bitcoin, when the price of Bitcoin was rapidly dropping i know there are some people that was waiting for the price to Dip more to buy, now they have miss some good buying opportunities by not accumulating when the price was low this is why investors should always DCA so they won't miss any opportunity in the market.

In a bearish market situation, you can freely set prices to buy. But in a bullish situation, you should consider restraining yourself.
You can apply DCA routinely, but also pay attention to the market situation. Right now the price is still good to enter, but believe me, there will still be people waiting for the price to drop again to buy. There are some speculations regarding the current market situation, of course this can influence people to buy now or wait for a slight decrease that might occur.

[Dave1]

Bitcoin reaching $81k is not supposed to be difficult because price is already within that vicinity. Despite the correction, the bullish moves is not yet over so any reversal now will make price surpass $81k. I have my eyes between $85k to $100k before the market will experience any exhaustion and slide into a consolidation to build liquidity. 

How can you assure that the bullish movement is not yet over though when we already had a correction into $78k? So we have seen a reversal already, meaning there might be already some short squeeze by traders to make some profits.

I would have replied you yesterday but I decided to wait till too as price was already setting up to continue the rise, behold it happened and bitcoin is already above $80k now. This validates my earlier statement that the bullish movement is not over and I'm you will now agree with me. There was no way we could have concluded that the rise was over when there was never a change of character to support that, instead what we saw was just a correction that happens in every trending market.

I just checked the price as of this writing, and it's $77k, so it's another correction that we are seeing. It's good that you have waited before you reply. But if you see the price right now, you might have to doubt again.

And it just shows how volatile the market is, even if we thought that in this case, a so called bull run, but it didn't last at the end of the week as again, there could be a selling pressure when we reach $80k. At some point, there could be some investors that want to take profit and there's nothing wrong with that.

[danadc]

Although we said that Bitcoin is decentralized and no figure can affect it like Saylor or Trump for that matter, but news around them will make the investors jump and buy the news and this is what we are seeing right now. Couple of predictions in social media that the bear market is over, as if it is manifesting itself already.

They have a significant impact because they have a large following, and when they speak, buy, or sell, they know it will have an impact on the market. They can move the market simply because they understand that investors' emotions can manipulate them.

BTC is the most popular asset so far, and I think it's gaining more and more acceptance, adoption, and impact. This doesn't mean that markets like forex are falling behind, but rather that most people are focusing on BTC.