# Weekly Crypto Market Update: Bitcoin Hits Record High, $3 Billion in Liquidations Bitcoin neared $79,500 as the market experienced massive liquidations. - **Source:** [INCRYPTED](https://brifing.si/source/7cd4625d-3f08-4cc1-983d-4c7d991839ba) - **Published:** 2026-08-23 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/44d68922-5650-490c-829c-51ae215a1ede ## Bitcoin's Rapid Surge Bitcoin reached $72,000 on August 19, marking its highest level since early June. By August 21, it approached $79,500, recording a weekly gain of 18.8%. This rally led to nearly $3 billion in liquidations, with $2.74 billion coming from short positions. Over 170,000 traders faced losses during this volatility. ## Optimistic Price Predictions Standard Chartered analyst Jeff Kendrick predicts Bitcoin could hit $100,000 by the end of 2026. Coinbase CEO Brian Armstrong forecasts $100,000 by year-end and $300,000-$400,000 by 2030. The US Treasury's plan to increase long-term bond purchases could further push Bitcoin toward $180,000. ## Strategy's Bitcoin Holdings Strategy, holding 840,447 BTC at an average cost of $75,385, turned a profit for the first time since late May. Binance founder Changpeng Zhao noted that 10-20% of mined Bitcoin may be lost or inaccessible, with only 4.4% of the total supply remaining. ## Ethereum's Rally Ethereum surged 25.5% weekly, reaching $2,400. Developers launched the Glamsterdam testnet, which will overhaul gas fees and block creation to handle future high transaction volumes. ## SafePal Data Breach SafePal disclosed a data leak affecting 39,798 customers who placed orders between March 2025 and April 2026. Names, emails, and delivery addresses were exposed, but seed phrases and payment details remained secure. ## GTA 6 Leak and Cyberleek Cyberleek leaked gameplay footage of GTA 6 and promoted the CYBERLEEK meme coin, which neared a $4 million market cap. Rockstar's removal of some videos lent credibility to the leak. ## Attacks on Blockchain Projects Maya Protocol suffered a $1.7 million hack, while MANTRA Chain paused transactions due to a security flaw. The Sandbox halted operations on Base and BNB Chain following a bridge attack. ## CLARITY Act Debates The Solana Policy Institute gives the CLARITY Act a 10% chance of passing before Congressional elections. President Donald Trump urged Congress to support the bill, but critics argue it favors large crypto intermediaries. ## SEC's New Rules The SEC's proposed crypto regulations aim to enhance transparency and security. While some welcome the clarity, others fear the rules could stifle innovation in the rapidly evolving market. ## Sources covering this story - https://incrypted.com/weekly-ocherednoy-renessans-kryptorynka/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._