Bitcoin climbed back above $77,600 on Aug. 24 as the crypto market steadied after recent volatility. The asset was up 0.5% over the past 24 hours. Ether posted a stronger move, rising 1.4% to $2,464 and leading gains among major cryptocurrencies. Solana slipped 0.85% to $95.44, while XRP fell 0.58% to $1.50.
Total liquidations across the crypto market reached $393 million in the past 24 hours, while the Fear and Greed Index rose to 73, moving back into greed territory.
$393 million in liquidations across the market
According to CoinGlass, total liquidations in the past 24 hours reached $393 million. Long liquidations accounted for $221 million and short liquidations came to $172 million. About 82,000 traders were liquidated during the period. The largest single forced liquidation order occurred on Binance in the ETH-USDT pair, with a value of $11.72 million.
Bitcoin and Ether 14-day trading ranges
Bitcoin touched a 14-day high of $78,524 at 13:00 on Aug. 22 and a low of $62,552 at 22:00 on Aug. 14. The current price sits in the upper half of that range. Ether reached a high of $2,524 at 06:00 on Aug. 22 and a low of $1,861 on Aug. 12, marking a notable rebound.
Over the same 14-day span, Solana traded between $74.2 and $99.78, while XRP moved in a range of $0.989 to $1.689.
Recovery after last week’s drop
The source said Bitcoin fell below $77,000 last week, triggering more than $500 million in liquidations within one hour, before quickly stabilizing and returning above $77,600. The report said this showed buying support remained in place below current levels.
U.S. stocks closed higher last Friday, Aug. 21. The Dow rose about 1%, the S&P 500 ended at 7,705 with a 0.4% gain, and the Nasdaq also added 0.4%. The source said that created a supportive external backdrop for crypto markets. At the same time, U.S. Treasury yields remained elevated, with the 30-year yield nearing 5.3%. The report also cited Trump as saying that 「the ultimate intervention is the military」 to save the bond market, adding that macro uncertainty remained.
SOL and XRP pull back slightly
Solana traded at $95.44, down 0.85% over 24 hours, while XRP changed hands at $1.50, down 0.58%. The report described both moves as pullbacks from elevated levels.
Spot Bitcoin ETFs drew $2.6 billion last week, the strongest weekly inflow since last October, according to the source. The report also said Standard Chartered had revised its view and now expects Bitcoin could return to its record high of $126,000 by year-end.
Technical picture: BTC and ETH in overbought territory
For Bitcoin, the daily RSI stood at 80.8, placing it in overbought territory. Its Aug. 23 UTC close was $77,734, above the SMA20 at $66,811, SMA50 at $65,204, and SMA200 at $69,043. The moving averages remained in bullish alignment. MACD stayed positive and the histogram expanded from the previous day. The close was near the upper Bollinger Band at $77,054.
The source listed resistance at the 30-day high of $79,500. Support was identified first at the upper Bollinger Band of $77,054, followed by the SMA200 at $69,043 and the SMA20 at $66,811.
For Ether, the daily RSI was 79.1, also in overbought territory. Its close at $2,463 stood above key moving averages, while MACD bullish momentum expanded. The close was near the upper Bollinger Band at $2,466.
The report listed Ether resistance at the upper Bollinger Band of $2,466 and the 30-day high of $2,547. Support levels were given as the SMA20 at $2,020, the SMA200 at $2,008, and the SMA50 at $1,922.
Fear and Greed Index rises to 73
Data from Alternative.me showed the Fear and Greed Index at 73 on the day, up 7 points from 66 a day earlier and back in the greed zone. Over the past eight days, the index ranged from 31 to 73. The source said sentiment had recovered from extreme fear at 31 on Aug. 17 to greed territory.