U.S. Stocks and Crypto Suffer "Double Blow" Overnight; Bitcoin Drops Below $77,000
PUBLISHED Aug 23, 2026, 4:19 PM ET
Bitcoin traded below $77,000 early Sunday, extending a weekend pullback after a powerful rally toward $80,000, while claims of a simultaneous U.S. stock selloff remained unconfirmed at the time of review. Investing.com data showed bitcoin’s Aug. 23 session ranged from $75,679 to $77,709 and closed near $77,210. The move followed a weekly surge that lifted bitcoin more than 20% and briefly pushed it near $79,500. Market reports linked the rally to lower Treasury yields, a weaker dollar, regulatory optimism and heavy short covering. Derivatives data also showed renewed liquidation pressure as bitcoin fell: KuCoin, citing CoinGlass, reported $91.27 million in positions liquidated during one hour on Aug. 23, including $84 million in longs. However, the supplied claim that 103,732 traders lost $249.68 million was not independently verified. Ethereum’s exact $2,300 breach was also not established from the strongest accessible data. The episode underscores crypto’s sensitivity to leverage and macroeconomic conditions.
By Sarah Whitman | JQJO News
- Articles Published:
- 16
- Right Leaning:
- 0
- Left Leaning:
- 1
- Neutral:
- 15
- Distribution:
- Left 6%, Center 94%, Right 0%
Left: Left coverage emphasizes investor losses, leverage risks, and broader financial-market vulnerability. Center: Center coverage emphasizes Bitcoin’s pullback, liquidation data, macro drivers, and uncertainty. Right: Evidence insufficient to establish a distinct right-leaning framing here.
On August 23, CoinGlass data triggered reports of liquidation pressure. https://www.coinglass.com/pro
Coverage of Story:
From Center
U.S. Stocks and Crypto Suffer "Double Blow" Overnight; Bitcoin Drops Below $77,000
citing Dongqu Dongqu Reuters Wall Street Journal MarketWatch Yahoo Finance Business Insider Euronews Decrypt Investing.com CoinGlass KuCoin Crypto Briefing Bitcoin.com Investors.com Economic TimesFrom Right
No right-leaning sources found for this story.
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