Bitcoin experienced a flash crash exceeding 6% within six minutes, resulting in the liquidation of $108 billion in short positions and $500 million in long positions. Despite this violent correction, bitcoin maintained weekly gains above 21%, suggesting an intact weekly uptrend. Bitcoin ETFs recorded $507 million in inflows on August 19th, their highest daily inflow since the first week of May, with IBIT leading at $285 million. Traders have squeezed more than $5 billion in short positions in August, the largest such move since October 2024, and analysts are now considering a historic short squeeze in the coming weeks.
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