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CryptoSlate · Aug 21, 2026

Bitcoin is closing in on $80,000 and already destroyed a record $4 billion in short bets

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CryptoSlate · CryptoSlate

A sharp return of risk appetite is exposing how quickly leverage can reshape crypto’s near-term path. Bitcoin’s push toward $80,000 has wiped out a record $4 billion in short positions, while XRP’s rally is forcing traders to confront a critical resistance range.

The move arrives as underlying infrastructure and corporate balance sheets tell a more uneven story. Ethereum is rehearsing revised block-building rules ahead of mainnet, while BTCS reduced Aave debt with Ethereum but ended June with limited cash. Price momentum may be broadening, but execution and liquidity risks remain consequential.

The global crypto market cap is $2.59 trillion, with a 24-hour volume of $163.25 billion. The price of Bitcoin is $76,961.90, and BTC market dominance is 59.7%. The price of Ethereum is $2,389.20, and ETH market dominance is 11.2%. The best-performing sector is Deflationary, which gained 16%. The Crypto Fear & Greed Index is currently Greed (72).

Bitcoin’s three-day surge has pushed a major market gauge bullish for the first time since October.

Ethereum’s public test rehearses new block-building rules, validator coordination and transaction costs before mainnet.

HIVE must complete a massive Nvidia buildout before most of the contract can start generating revenue.

Read the original on cryptoslate.substack.com

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