The crypto market is witnessing a sharp rally today, with Bitcoin breaking above the $70,000 level for the first time in more than two months. BTC climbed as high as $71,288, while Ethereum also extended its gains, trading around $2,273. 

The broader market is benefiting from improving liquidity expectations, renewed institutional interest and heavy short-position liquidations. 

Bitcoin has moved decisively above the $70,000 psychological level after beginning the day near $69,114. The breakout marks a major shift from the prolonged consolidation seen through much of the summer. Bitcoin's move has also pushed the total crypto market higher, with reports estimating roughly $190 billion added to overall cryptocurrency market value during the latest rally. 

Hyperliquid's HYPE token remains one of the strongest large-cap performers. HYPE has climbed above $70 after President Donald Trump indicated that the CFTC is working toward bringing Hyperliquid into the US through a compliant framework. HYPE was recently around $73, with gains of more than 20% reported today. 

Ethereum is also participating strongly in the rally. ETH has moved above $2,250, while earlier data from Analytics Insight showed a daily gain of around 17.7%. The move has pushed Ethereum to levels not seen in several months and strengthened the broader altcoin rally. 

The Bitcoin breakout has triggered a major derivatives squeeze. Analytics Insight reported that more than 171,000 traders were liquidated, with total liquidations approaching $3 billion over 24 hours. Short positions made up most of the liquidations, forcing traders to buy back assets and adding further upward pressure. 

One of the biggest catalysts behind today's rally is the US Treasury's decision to increase long-dated bond buybacks. The Treasury plans to raise operations to at least $4 billion per session from September 9, compared with $2 billion previously. Falling long-term yields and a weaker dollar have improved the appeal of risk assets, including cryptocurrencies.

Institutional demand is providing another layer of support. Analytics Insight reported that US spot Bitcoin ETFs attracted approximately $651 million across three sessions, reversing the previous period of outflows. Ethereum ETFs also recorded about $71.5 million in inflows. 

The US Securities and Exchange Commission has proposed a dedicated “Regulation Crypto Assets” framework covering certain token offerings. The proposal includes lighter disclosure routes for eligible fundraising, with potential limits of $5 million and $75 million under different tracks. The development has added to optimism around clearer US crypto rules.

With Bitcoin now above $70,000, traders are watching the next resistance zones. Earlier analysis placed the immediate technical target around 71,300–71,500, while a sustained breakout could bring the $75,000 level into focus. However, the speed of the rally also raises the risk of short-term profit-taking.

The rally is no longer limited to Bitcoin. Ethereum, XRP and Hyperliquid have posted significant gains, while Solana and other major altcoins are also trading higher. Analytics Insight's earlier market update showed XRP up 10.58%, Ethereum up 17.74% and HYPE up 20.97% over 24 hours. 

Bitcoin's move above $70,000 is the main market story, but the strength of Ethereum and HYPE suggests that traders are rotating into higher-beta crypto assets as risk appetite improves.

The next major test for Bitcoin is whether it can hold above $70,000 rather than simply touch the level. A sustained move could strengthen the case for a test of $71,300-$71,500 and potentially $75,000. On the downside, the $68,000-$69,000 area becomes important for determining whether the breakout can hold.

The rally remains highly volatile. Heavy short liquidations helped accelerate the move, meaning prices could experience sharp swings if leveraged traders begin taking profits.

Market takeaway: 

Bitcoin has shifted from consolidation to breakout, Ethereum is outperforming on the upside, HYPE is benefiting from fresh US regulatory optimism, and ETF inflows are providing additional support. Traders will now focus on whether Bitcoin can establish $70,000 as new support.

Note: Crypto prices change continuously. Price figures above reflect the latest market reports available at the time of writing and should not be treated as investment advice.

The cryptocurrency market is witnessing a major move today. Bitcoin has climbed above $75,000, extending a sharp recovery that has lifted Ethereum, XRP and several other major tokens. At the same time, India's crypto market is seeing important developments around investor behaviour, derivatives trading and a long-running cryptocurrency fraud investigation.

This live blog brings together the latest crypto market, Bitcoin, Ethereum, altcoin, regulation, India and blockchain updates available on August 21, 2026.

Bitcoin remains above the $75,000 level after breaking through the mark for the first time since late May. CoinDesk's latest market update puts BTC around $75,400, with the cryptocurrency up roughly 8% over 24 hours. Ethereum was trading around $2,359, while XRP was near $1.29.

The rally has also improved the weekly performance of major cryptocurrencies. Bitcoin has gained around 19% over the week, while Ethereum has climbed about 25% and XRP around 28%, according to the same market update.

A new CoinSwitch study offers a detailed look at how Indian investors use cryptocurrencies.

Investors aged 18–25 accounted for 54.4% of new investors added during Q2 2026, while those aged 26–35 accounted for another 25.4%. However, younger investors were not the strongest buyers.

The 18–25 group recorded a buy-to-sell ratio of 0.65. Investors aged 46 and above had the strongest buying ratio at 1.14.

The data suggests that younger Indians are bringing more people into crypto, while older investors are showing stronger buying conviction.

Bitcoin and Dogecoin emerged as the most popular cryptocurrency pair across all age groups on CoinSwitch during Q2 2026.

Other popular combinations included Bitcoin with Shiba Inu, Dogecoin with Shiba Inu and Bitcoin with Ethereum. Investors aged 36–45 showed a preference for Dogecoin and XRP, while the 26–35 and 46-plus groups favoured Dogecoin and Ethereum. 

The finding highlights how meme coins continue to maintain a strong presence in India's retail crypto market despite Bitcoin's dominance.

CoinSwitch's latest data shows that younger investors continue to form the core of India's crypto user base.

However, the report also shows an important difference in portfolio strategy. Nearly 59.2% of investors aged 18–25 held only one cryptocurrency, compared with 36.3% among investors aged 36–45.

The 36–45 group had the highest share of investors holding 10 or more cryptocurrencies, at 9.1%.

The study is based only on activity on the CoinSwitch platform during Q2 2026, so it should not be treated as a complete survey of every crypto investor in India.

Uttar Pradesh emerged as the largest crypto investment market on CoinSwitch during Q2 2026, accounting for 12.9% of total investment.

Maharashtra followed with 12.4%, Karnataka with 8.1% and Delhi with 7.4%.

Bitcoin remained the preferred cryptocurrency in nine of India's 10 largest investing states. Andhra Pradesh was the exception, where Dogecoin ranked first. 

CoinSwitch also found that India's busiest crypto trading hour was between 10 PM and 11 PM, while activity was lowest between 3 AM and 5 AM. Thursday was the busiest trading day, while Sunday saw the lowest activity.

India's rising crypto futures turnover does not necessarily mean the country's crypto market has become more mature.

A fresh analysis argues that futures volumes can be inflated by leverage and repeated trading. High turnover therefore does not automatically indicate deeper investor participation or stronger market infrastructure. 

The analysis says a healthier measure of India's crypto-market development should include spot-market depth, transparent reporting, asset segregation, custody standards and investor protection.

This puts the spotlight on the difference between large trading numbers and genuine long-term market participation.

The Enforcement Directorate has stepped up its investigation into the Money Trade Coin (MTC) cryptocurrency fraud, an alleged scheme first exposed by India Today in 2018.

The ED has conducted searches in Mumbai and Thane as part of the investigation. According to the agency, investors were allegedly induced to invest in MTC between August 2017 and April 2018, with losses estimated at around Rs. 113.10 crore.

The investigation follows the 2018 "Operation Bitcoin" investigation, which exposed claims of extraordinary returns being offered to investors.

The ED says several related schemes and exchanges were later launched and alleges that MTC's price was manipulated before trading and withdrawals were stopped. Searches conducted on August 12 reportedly resulted in the seizure of nearly Rs. 1 crore in cash, along with digital devices and documents.

Crypto-related stocks received another boost after US President Donald Trump called for Congress to move forward with the Clarity Act, a proposed framework aimed at providing clearer rules for digital assets.

The legislation seeks to establish clearer distinctions around whether certain cryptocurrencies fall under securities or commodities regulation. 

The latest push has added to the positive regulatory narrative surrounding crypto markets. Coinbase, MicroStrategy, Canaan and Circle were among crypto-linked companies that recorded gains in the latest market move.

Another factor supporting the crypto rally is the US Treasury's decision to increase buybacks of longer-duration government bonds.

The move came after a sharp bond-market selloff pushed yields to their highest level since 2007. Analysts viewed the buyback announcement as a signal that could help stabilize financial markets and improve sentiment toward risk assets.

Bitcoin rose above $70,000 during the initial reaction before extending the rally further.

The Bitcoin rally has created major pain for traders betting on lower prices.

CoinDesk reported that bearish crypto positions suffered about $2.74 billion in losses in a single day, making the move one of the largest short-liquidation events in the market. 

Short liquidations can accelerate an upward move since traders are forced to close losing positions, often by buying the underlying asset.

This has contributed to the speed of Bitcoin's latest recovery.

Bitcoin briefly moved above $75,500, marking another major step in the ongoing recovery.

The Block reported that BTC had moved beyond $75,500, although some analysts warned that the market may be giving too much credit to recent government and macroeconomic developments.

The key question now is whether Bitcoin can hold the breakout rather than simply touch the level.

The broader cryptocurrency market has also moved higher alongside Bitcoin.

CoinCodex data showed total crypto market capitalization increasing from about $2.42 trillion to $2.51 trillion over the previous 24 hours. Bitcoin was around $75,408 in its 06:00 UTC market snapshot, up 8.66% over 24 hours.

The rise shows that the latest move is broader than Bitcoin alone.

XRP has emerged as one of the stronger large-cap performers during the current rally.

CoinDesk reported that XRP had gained around 30% over the week. A new institutional lending project involving RLUSD, Clearpool and Cicada Partners is also adding attention to the XRP ecosystem. 

The lending product is being built using RLUSD, while infrastructure connected to the XRP Ledger is expected to support the project.

Ethereum has continued its recovery alongside Bitcoin.

ETH recently moved to around $2,359, with CoinDesk reporting a gain of roughly 4.8% over 24 hours in its latest market update.

Ethereum's weekly gain has also become significant, with ETH up roughly 25% in the latest reported period.

The network is also preparing for further technical changes through its next upgrade.

A major negative development has emerged from the MANTRA ecosystem.

MANTRA Chain halted its network after an incident involving a vulnerability in software used by the blockchain. The network stopped producing blocks, while endpoints and transactions were frozen as the team investigated the issue.

The MANTRA token fell sharply, touching around $0.004126 shortly before the network stopped producing blocks, according to CoinDesk. 

The incident is a reminder that individual blockchain risks can remain high even when the broader crypto market is rallying.

Spot Bitcoin ETFs have also become an important part of the latest market recovery.

The Block reported that US spot Bitcoin ETFs recorded around $517 million in net inflows, their largest inflow in roughly three and a half months. 

ETF demand can provide an additional source of spot-market buying pressure and has become an important indicator for institutional interest in Bitcoin.

South Korean exchange Upbit is adding trading support for Biconomy, Bubblemaps, Nillion and ETHGas through new Bitcoin and USDT pairs.

The announcement has already affected prices of the listed tokens, with market participants responding to the expected increase in liquidity and visibility.

Exchange listings often trigger short-term volatility as traders anticipate greater access and trading volume.

The latest market move is broader than the Bitcoin breakout.

Ethereum, XRP and other major cryptocurrencies have gained strongly during the rally. CoinDesk reported that Bitcoin was around $75,400, Ethereum around $2,376 and XRP around $1.29 in its latest snapshot.

This broader participation is important since a Bitcoin-only rally can fade quickly, while simultaneous gains across major altcoins can indicate stronger market-wide risk appetite.

The broader market has regained the $2.5 trillion level as Bitcoin and several major altcoins rise together. CryptoSlate's market tracker shows Bitcoin dominance at roughly 59.7%, while Ethereum accounts for about 11.2% of the total market.

The numbers suggest that the latest move is not limited to Bitcoin. Capital is also moving into large altcoins as traders respond to improving market momentum.

The wider market is also seeing strong gains. The latest available prices show XRP around $1.30, Solana near $90, BNB around $663 and Dogecoin near $0.0825. These figures can change quickly since crypto trades continuously.

The strength across multiple large-cap tokens indicates that traders are currently showing greater appetite for risk.

Note: Crypto prices change continuously. Price figures above reflect the latest market reports available at the time of writing and should not be treated as investment advice.