Bitcoin has surged 30% in its latest rally, and analysts from CryptoQuant suggest the move is being powered by fresh capital rather than an expansion of leveraged positions. The observation, published on August 24, 2026 by CryptoQuant contributor Woo Minkyu, points to a healthier market structure.
Fresh money, not leverage According to Minkyu, rallies driven primarily by leverage often rise quickly but are vulnerable to liquidation cascades. In contrast, the current advance appears to be attracting new buyers deploying capital directly into Bitcoin. "A rally where fresh money arrives without growing leverage is built on firmer ground," he wrote.
Why it matters Spot buying and long-term investment are seen as stronger foundations for price appreciation than borrowed funds. When prices rise without a significant increase in leverage, the market is generally considered less vulnerable to sudden liquidation cascades. Investors are now monitoring spot demand, ETF inflows and on-chain activity to see whether the inflow of fresh money continues.
Analysts caution that market conditions can change quickly, and this data should be one part of a broader investment view. Regulatory developments and macroeconomic shifts could still impact Bitcoin's price.
