After a difficult 2026, Bitcoin posted its strongest month since November 2024 in August: a rise of nearly 25%. On May 28, 2026, we published our most recent update, in which we indicated that the price could pull back toward the $50,000 to $55,000 range, while the price target for the next twelve months remained at $95,000. Since then, quite a bit has happened in the crypto market, and today we are updating our outlook and strategy for the coming period.

We recommend that you first read the May 28, 2026, article titled“Bitcoin Update: Recovery Phase Possibly Over and Price Heading Toward $50,000?” This will ensure you are fully up to speed on the background. You can find the article HERE.

What has happened to the Bitcoin price since May 2026?

The scenario we outlined in May largely played out. In early July, Bitcoin fell to a summer low of approximately $58,000, well below the $73,000 level at which it was trading at the time. This brought the price close to the previously mentioned correction zone, but it fell just short of the expected low of $55,000 to $50,000.

A gradual recovery began in mid-July. The price climbed, testing the zone around $68,000 before breaking above $71,000 on August 20. Five days later, on August 25, Bitcoin also broke through the $80,000 mark and even touched $81,000, its highest level since May. As a result, the price rose by about 40% in a short period from its summer low.

This rally was broadly driven by institutional capital. U.S. spot Bitcoin ETFs attracted approximately $3.5 billion in new inflows in August, compared to a net outflow of over $5.3 billion in the first seven months of the year. Sentiment also shifted among long-term holders: after weeks of selling pressure, net buying resumed for the first time in late August. Bitcoin is currently trading around $79,000, with a market capitalization of approximately $1.33 trillion. The price has been moving sideways in recent weeks between roughly $76,500 and $79,500, following the sharp rise in August.

What is Yelza’s outlook on the price of Bitcoin?

Our model builds on the May scenario and updates it today. Bitcoin went through the expected correction phase toward the lower range, then recovered faster and more strongly than anticipated, and is now once again at a key point in the pattern. From the current level of approximately $78,000, we anticipate another brief pullback toward the $67,500 to $73,000 range. This zone represents a logical pause within the broader uptrend before the next upward move begins.

From that zone, we expect the uptrend to resume, with a revised price target of $98,000. This price target is slightly above the previously communicated level of $95,000. Below is the Bitcoin price chart showing what we believe to be the most likely scenario based on our model, indicated by arrows.

Conclusion

Bitcoin has exhibited a classic pattern of correction and recovery over the past few months and is, on balance, in a stronger position than it was in May. Those who already hold a position may consider holding onto it as it moves toward the price target of $98,000, and view a potential pullback to the $67,500 to $73,000 range as an opportunity to add to their position. For investors who do not yet hold a position, that same range offers a potentially attractive entry point: starting at $70,000, the price target of $98,000 would represent a potential return of over 40%. The Fed meeting on September 15 and 16 remains the most important short-term catalyst to watch.

Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences. They are therefore intended for educational purposes only.