Bitcoin Surges 26% on Short Squeeze and Broader Demand
Bitcoin's price has surged by about 26% since its mid-August low after a short-liquidation event accelerated the rebound. The August 19 move produced the largest one-day liquidation event since 2019, with short positions accounting for most of the liquidations across major centralized exchanges.
The actual total was likely higher because the dataset excludes Hyperliquid. Glassnode said the squeeze cleared much of the liquidation liquidity around Bitcoin and now sees short-liquidation levels above the market and a smaller pool of long-liquidation levels below.
US spot Bitcoin ETFs recorded $2.23 billion of net inflows over seven days, with no outflow days and their strongest weekly intake of 2026. The period included the largest ETF creation session since mid-January.