Archive · 21 Aug 2026
Bitcoin Demand Turns Positive as Price Rebounds Above $70,000
Bitcoin’s price has climbed back above $70,000.
More people are now buying Bitcoin in regular markets and in some futures markets.
This is the first time that demand has turned positive in both areas since October 2025.
Ki Young Ju said the improvement is still small.
He said that if it continues for another month, it could mean a new bull market has started.
The rally may have been helped by proposed U.S. crypto laws and a Treasury plan to buy more government bonds.
Lower Treasury yields, a weaker dollar and Bitcoin ETF inflows may also be supporting prices.
However, some analysts warn that Bitcoin could fall sharply before a longer-lasting rise.
Bitcoin demand turned positive in spot and perpetual futures markets for the first time since October 2025, according to CryptoQuant founder Ki Young Ju.
Bitcoin rose above $70,000 on August 21, 2026, reaching its highest level since June 2 and gaining nearly 18% in five trading sessions.
Bitcoin stood at $74,644 at 1:09 a.m. UTC, up 2.24% over several hours and 14% over one month.
Analysts attributed the rally partly to a White House crypto legislation push, Treasury bond buybacks, softer yields, a weaker dollar and sustained ETF inflows.
Some analysts remain cautious, warning Bitcoin could suffer a final decline to $44,000-$48,000 before a sustained bull market.
- Who
- Bitcoin investors and traders; CryptoQuant founder Ki Young Ju; analysts including Balaji Srihari of CoinSwitch.
- What
- Bitcoin demand became positive across spot and perpetual futures markets while its price rebounded above $70,000.
- When
- The demand shift was reported on Thursday, August 21, 2026; the latest quoted price was recorded at 1:09 a.m. UTC that day.
- Where
- The market activity involved global Bitcoin markets, while cited policy and financial factors came from the United States.
- Why
- The rally was linked to a White House crypto legislation push, U.S. Treasury bond buybacks, softer yields, a weaker dollar, ETF inflows and progress toward regulatory clarity.
Bullish interpretation
Cautious interpretation
Meaning of positive demand
Bullish interpretation
Ki Young Ju said sustained positive demand in spot and perpetual futures markets could show that the bear market is ending and a new bull cycle is beginning.
Cautious interpretation
The improvement remains modest, and analysts caution that the recent rally may not yet have a durable foundation.
Effect of U.S. financial conditions
Bullish interpretation
Softer Treasury yields, a weaker dollar, ETF inflows, regulatory progress and larger Treasury buybacks may be improving liquidity and supporting Bitcoin.
Cautious interpretation
Despite these supportive factors, analysts warn Bitcoin could experience a final brutal decline before entering a sustained bull market.
Price outlook
Bullish interpretation
The move above $70,000 and the 11-week high suggest a possible shift from prolonged consolidation toward broader recovery.
Cautious interpretation
Bitcoin could still fall to $44,000-$48,000, according to the cited cautious forecasts.
- Latest quoted price
- $74,644 at 1:09 a.m. UTC on August 21, 2026
- Short-term performance
- Up 2.24% over the previous several hours and 14% over one month
- Five-session gain
- Nearly 18%
- Recent price milestone
- Highest level since June 2, 2026
- Demand shift
- Spot and perpetual futures demand both turned positive for the first time since October 2025
- Treasury buybacks
- The U.S. Treasury plans to increase buybacks from $2 billion to at least $4 billion per operation starting September 9, 2026
- Potential downside
- Some analysts warned of a possible decline to $44,000-$48,000