ChainThink reports that, according to Glassnode, Bitcoin has rebounded approximately 26% from its mid-August low, driven by record-level short liquidations.
August 19 recorded the largest single-day short liquidation since 2019, with shorts accounting for 85% of total liquidations within the squeeze window.
During the same period, BTC futures open interest, denominated in coin, decreased by 11%, and the perpetual contract funding rate remained neutral, indicating that the price rise was not accompanied by new leveraged long positions.
U.S. spot Bitcoin ETFs recorded a cumulative net inflow of $2.23 billion during this period, with no single-day net outflows, marking the strongest seven-day consecutive inflow of the year; the 30-day accumulation trend scores for wallets of all sizes exceeded 0.5, indicating broad-based buying interest.
Glassnode notes that the $81,000–$86,000 region consolidates long-term holder cost bases, sell orders, gamma negative positions of options market makers, and potential short liquidation zones, forming the primary resistance to the current rally.
If BTC can hold above $83,300 and maintain ETF inflows, it may indicate that this supply zone is being absorbed;
Below, monitor the short-term holder cost basis at $70,000 and the support range between $62,000 and $65,000.