Will Bitcoin be at or above $78,500 on Aug 30?
Signal ended
Entry · NO68¢
PublishedAug 30
Aug 30 forecast
Bitcoin entered August 30 below the threshold after reversing sharply from $81,300, so a price of at least $78,500 is unlikely but still live.
Bitcoin entered August 30 below $78,500 after a rapid retreat from above $81,000. The decline broke recent momentum, triggered substantial leveraged liquidations and restored resistance near $80,000. Positive institutional demand and recent trading above the threshold keep a rebound plausible, but an August 30 price of at least $78,500 is unlikely but still live.
Points to NO
- Bitcoin began August 30 below the required level after retreating from a recent high near $81,280.On August 30, Bitcoin was trading in the $77,000-$78,000 range after retreating from a recent high around $81,280.
- The latest decline was abrupt enough to liquidate leveraged positions and weaken near-term momentum.On August 28, Bitcoin fell below $77,000 and $478 million in leveraged positions were liquidated.
- The August 28 close below $80,000 turned that level back into resistance above the resolution threshold.On August 28, Bitcoin closed below $80,000 after its decline, turning that level back into resistance.
Points to YES
- US institutional buying remained evident despite the price decline.On August 29, the Coinbase premium turned positive, indicating that US institutional buyers were paying more than offshore buyers.
- Spot Bitcoin ETF demand was strong over the latest full trading week.US spot Bitcoin ETFs attracted a combined $924.5 million during the August 24-28 trading week.
- Bitcoin traded well above $78,500 shortly before the measurement date, showing that the threshold remains reachable in a volatile session.Bitcoin reached an August 28 high of roughly $81,300.
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