Darkfost2026-08-20

BTC’s best day since February 2026 triggers record STH profit taking

Yesterday, BTC closed its best day since February 2026 with +7.1%. This day didn't leave STH quiet. Yesterday they sent over 44,300 BTC in profit to exchanges. This marks their largest profit-taking of 2026, as BTC moved above their cost basis sitting at ~$67,100. Several catalysts drove this performance. Bessent announced yesterday that the U.S. will proceed with long-term treasury buybacks and would double it, which had an immediate effect of deflating long-term yields. This was followed by a speech from Trump at the White House during a crypto-dedicated meeting, where he announced that the U.S. is considering buying a sizeable amount of BTC. He also urged Congress to pass the Clarity Act and expressed his desire to bring Hyperliquid to the U.S. Is this still speculation, or a genuine intent from the president to make the U.S. the number one country in crypto ? Meanwhile, STH are stirring, and these are behaviors worth watching closely as BTC tries to break through key resistances like the STH cost basis.