Bitcoin pushed above $71,000 after six weeks of consolidation, ending in a significant short squeeze. Approximately $3 billion in bearish positions were forced to cover as supply tightened.
Bitcoin breaks six-week range above $71,000
A sharp move out of a six-week trading range triggers the largest short liquidation since 2021.
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Marcus Webb · Crypto Desk · 21 Aug 2026 · 23:45 · 1 min read
This article was produced with AI assistance and edited by a Finance Review Daily journalist.
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Marcus Webb
Crypto Desk
Marcus reports on digital assets, from spot ETF flows to protocol-level developments in DeFi. He pays particular attention to how institutional adoption is reshaping crypto market structure.
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