Will Bitcoin be at or above $78,000 on Aug 29?
Bitcoin remains below the threshold after its breakout was erased, so an Aug. 29 resolution at or above $78,000 is unlikely but still live.
Bitcoin is slightly below the required level, but its position understates the weakness of the immediate setup. The move above $81,000 reversed sharply, $80,000 became resistance, leveraged longs were heavily liquidated and a key institutional demand channel paused for the weekend. A qualifying reading remains possible because the gap is small and recent intraday swings have crossed the threshold, but the latest direction favors a finish below it.
- Bitcoin is below the required level close to the resolution window, leaving it dependent on a timely rebound rather than merely holding its ground.At 12:45:40 UTC on Aug. 29, Bitcoin was $77,618 after trading between $76,962 and $79,992 over the preceding 24 hours.
- The failed breakout has weakened short-term momentum and restored overhead resistance, making a durable recovery above the threshold harder.On Aug. 29, Bitcoin was near $78,000 after the previous day's move above $81,000 was erased, with $80,000 again acting as resistance.
- Heavy long liquidations can leave rebounds fragile and encourage further selling if nearby support breaks.An Aug. 29 report put preceding 24-hour crypto liquidations near $488 million, including more than $360 million in leveraged longs and about $141 million tied to Bitcoin.
- The small gap and wide recent trading range keep a qualifying reading attainable if buyers regain control quickly.During the 24 hours preceding 12:45:40 UTC on Aug. 29, Bitcoin traded as high as $79,992 despite being below $78,000 at the observation time.
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