Bitcoin nears $80,000 as crypto rally extends
Bitcoin trades near $79,862.51, up 3.37% in 24 hours, while Ethereum, XRP and Solana also rise and Dogecoin slips 0.57%.
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Leading cryptocurrencies and adjacent equities climbed on Monday as sustained demand continued to drive the ongoing rally.
Cryptocurrency 24-Hour Gains +/- Price (Recorded at 9:25 p.m.
EDT) Bitcoin (CRYPTO: BTC) +3.37% $79,862.51 Ethereum (CRYPTO: ETH) +2.20% $2,499.55 XRP (CRYPTO: XRP) +1.93% $1.51 Solana (CRYPTO: SOL) +7.98% $102.19 Dogecoin (CRYPTO: DOGE) -0.57% $0.09134 Crypto Market Ascends Bitcoin came close to breaking above $80,000 as strong buying continued to fuel its rally.
Trading volume jumped 78% over the last 24 hours.
Ethereum rose to its highest level in almost seven months, trading between $2,425 and $2,530.
Dogecoin was the outlier, falling 0.57% in the last 24 hours.
Cryptocurrency-related stocks also lifted, with Strategy Inc. (NASDAQ: MSTR ) and Bitmine Immersion Technologies Inc. (NYSE: BMNR ) closing up 2.83% and 5.74%, respectively.
Over $420 million was liquidated from the cryptocurrency market in the last 24 hours, nearly evenly split between long and short positions, according to Coinglass data.
Bitcoin’s open interest fell 1.21% over the last 24 hours.
Smart money sentiment, which refers to the collective outlook and capital allocation of institutional investors, turned "extremely bullish." Top Gainers (24 Hours) Cryptocurrency (Market Cap>$100 M) Gains +/- Price (Recorded at 9:25 p.m.
EDT) Black Phoenix (BPX) +2665.23% $0.1066 The Juggernaut (JUGGERNAUT) +130.98% $0.006169 DGrid AI (DGAI) +88.26% $0.7210 The global cryptocurrency market capitalization stood at $2.68 trillion, following an increase of 2.36% over the last 24 hours.
Read Also: Bitcoin's Bounce Is a 'Gift To Sell,' Bloomberg's McGlone Cautions S &P 500 Closes in the Red Major indexes started the new trading week lower.
The S&P 500 slid 0.28% to close at 7,652.86, while the tech-focused Nasdaq Composite declined 0.76% to end at 25,980.19.
The Dow Jones Industrial Average was the silver lining, rallying 140.15 points, or 0.26%, to settle at 53,417.16.
Nvidia Corp. (NASDAQ: NVDA ) second-quarter earnings report could be the key market catalyst this week.
Investors will later turn their attention to Fed Chair Kevin Warsh’s Friday speech at Jackson Hole, watching for signals about the central bank’s long-term monetary policy plans.
Another Bitcoin Bull Signal? Ali Martinez, a widely followed cryptocurrency analyst and trader, noted Bitcoin reclaiming its 1,130-day simple moving average as support after 80 days. “Over the past four market cycles, Bitcoin began a new bull market shortly after reclaiming this moving average,” Martinez stated. “If history repeats, the market bottom may already be in.” BITCOIN: ANOTHER BULLISH SIGNAL $BTC has just reclaimed its 1,130-day simple moving average as support, a level that has consistently marked the end of previous bear markets.
Over the past four market cycles, Bitcoin began a new bull market shortly after reclaiming this moving… pic.twitter.com/Re8TYnDe5o — Ali Charts (@alicharts) August 24, 2026 Michaël van de Poppe, another popular cryptocurrency researcher, said Bitcoin’s liquidity sweep of recent lows around $76,400, or, in a worst-case scenario, $74,000, could pressure altcoins lower.
Van de Poppe warned that even in a mild correction, altcoins can drop 10%-20% rapidly due to their higher volatility relative to Bitcoin.
This has happened on #Bitcoin, that's great.
Now it's time to think about two potential scenarios which could play out.
1 — We're sweeping all the recent lows and take long liquidity, in best case we'll find a low at $76,400 and move back up from there.
Worst case it drops to… pic.twitter.com/6xMHrxTczb — Michaël van de Poppe (@CryptoMichNL) August 24, 2026 Read Also: Bitcoin Could 'Teleport' to $90,000 but Ethereum Is Still the More Interesting Coin, Traders Say Photo Courtesy: Sodel Vladyslav on Shutterstock.com