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Bitcoin rebounds 26 percent from August low, market cycle shifts to neutral

Bitcoin has rebounded 26 percent from its mid-August low, pushing market cycle indicators back into a neutral range. Glassnode said the market recovered to the neutral boundary of 40 after a long period in a cooling zone. A large short liquidation on Aug. 19 and $2.23 billion of weekly inflows into spot bitcoin ETFs supported the move. Glassnode flagged resistance at $81,000-$86,000 and cited options-market signals of higher volatility.