Bitcoin: Gracy Chen Flags Monkey Market Risks

Bitcoin at $77790.1 drew cautious commentary from Gracy Chen of Bitget, who labeled 2026 a monkey market driven by volatile jumps rather than steady capital inflows despite the August rally sparked by political sentiment and short covering.

Chen stressed that ETF flows, global liquidity, interest rates and dollar strength will determine whether the move extends, recalling how the 2022 FTX collapse crushed prices to sixteen thousand dollars amid prior optimism and noting crypto may still track its four-year cycle into potential shocks.

Price action on the 4h chart shows a bullish trend structure with price holding above the EMA50 at $77586.36 yet testing upper Bollinger resistance at $79095.66 while the MACD death cross at -17.13 signals fading momentum and RSI at 44.2 leaves room for a healthy retracement toward the EMA200 support at $71426.59 before any continuation attempt.