Bitcoin Shatters Downtrend with Record-Breaking 23.58% Weekly Gain

Bitcoin's price surge has broken its 10-month downtrend as it approaches $79,000. The cryptocurrency rose 23.58% last week, adding a record $14,833 in value.

The weekly candle broke descending resistance extending from the October 2025 record high of $126,195, and the asset now trades near $79,000, up 1.8% over 24 hours.

Derivatives data show more aggressive bullish positioning, with about $2.7 billion in shorts liquidated on August 19 as perpetual funding reached its highest level of 2026 during the squeeze.