Bitcoin Surges Near Target Range Amid Inflows and Liquidity Boost

Bitcoin rebounded near $76,600 after dipping to around $57,717 in July, according to veteran trader Peter Brandt's forecast of $58,000, $62,000. The timing was off, as Brandt initially predicted the price would reach this range within two weeks in January but it took months to materialize during 2026.

Brandt later abandoned his bearish outlook after a bullish inverse head-and-shoulders pattern completed, buying the breakout. The rally was supported by $1.92 billion inflows into U.S. spot Bitcoin ETFs and short liquidations.

The U.S. Treasury's decision to double long-dated bond buybacks improved market liquidity, boosting Bitcoin and other scarce assets. The key test now is whether Bitcoin can hold above $79,500 and challenge $80,000 next.