Bitcoin’s mid-August rebound, described by Glassnode as an Aug. 19 short squeeze and dated in its market data to Aug. 27 above $80,000, stalled below the $83,000-$86,000 long-term-holder supply zone before retreating toward $76,000 and triggering successive long liquidations. Long-term-holder 30-day distribution rose 61.5%, from 174,500 BTC on Aug. 18 to 281,900 BTC on Aug. 28, the highest level recorded this year. When Bitcoin traded near $78,000, the share of supply held at a profit reached 68%, up from 65% in May, potentially increasing selling pressure. Glassnode identified $62,000-$65,000 as the main accumulation-support area, while $60,000-$63,000 contains unabsorbed long-liquidation positions. The long-term-holder MVRV ratio reached 1.64 on Aug. 27 and stood at 1.60 on Aug. 31, indicating market value about 60% above average acquisition cost. Open interest fell 3.8% as funding rates rose, signaling renewed short-term long crowding even as overall leverage contracted. Glassnode expects Bitcoin to remain range-bound until the overhead supply is absorbed.