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The receipts, miss included
Crypto Rebound 2026: Bitcoin +19.6% and Hyperliquid +38.7% Since 9 August — and the Call We Got Wrong
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Bitcoin is US$77,569, up a fifth since the piece we ran on 9 August. Over the same stretch the S&P 500 went backwards. We wrote about this rebound three times on the way up — and once, at almost exactly the wrong moment, we wrote that it was not happening.
+19.6%
Bitcoin since 9 Aug
S&P 500 −1.4%
+38.7%
Hyperliquid since 9 Aug
+204% for 2026
−13.8%
Bitcoin still down for 2026
a rebound, not a recovery
The rebound is now beating stocks
- Every one of them beat the index. Hyperliquid +38.7%, Ethereum +25.7%, Solana +20.6%, bitcoin +19.6%. The S&P is −1.4%.
- Bitcoin is 32.5% off its June low. From US$58,559 on 30 June to US$77,569 today.
- It is still not a recovery. Bitcoin remains −13.8% for 2026, Solana −30.4%, Ethereum −23.2%.
What we actually published, and when
- A — 4 July, bitcoin US$63,088. Crypto rebounds after the June crash. Bitcoin is +23.0% since.
- C — 9 August, bitcoin US$64,845. Back near $65k on $853.5m of ETF inflows. +19.6% since.
- D — 20 August, bitcoin US$73,033. Trump names Hyperliquid; HYPE ran 19% in a session.
B — the one we got wrong. On 4 August we published “Bitcoin, Solana and Hyperliquid Barely Moved Last Week — the S&P 500 Did All the Running”. It was accurate about the week it described. It was also published with bitcoin at US$64,056, days before it ran 21.1%while the S&P fell 1.2%. Hyperliquid was US$55.03 that day and is US$74.67 now. If we are going to show the three that aged well, this one belongs on the same chart.
What we did not do
- We never told anyone to buy. Rates.my holds no CMSA licence. Every one of those pieces reported a price and a driver.
- There was no forecast in any of them. The value is the timestamp, not a prediction — what was true, on the record, on the day.
If you are in Malaysia
- Only SC-registered exchanges are legal here. Luno, Tokenize, MX Global and SINEGY. Trading elsewhere is outside Malaysian investor protection.
- Perpetuals are not approved for retail. The venue behind the best number here runs leveraged perps — not an SC-approved retail product.
- A rebound is not a floor. Bitcoin fell from US$89,945 to US$58,559 inside this same year.
What to watch
- ETF flowsThe driver we named on 9 August was US$853.5m of weekly inflows. That is the number that has to keep coming.
- The CFTCWhether the Hyperliquid onshore work actually produces a filing, rather than a mention.
- US$89,945Bitcoin’s 2026 starting price. Until it clears that, this is a bounce inside a down year.
Not financial advice. Prices are Yahoo Finance daily closes as at 21 August 2026; the S&P figure is its 20 August close, the latest available, so the two windows are not identical. Past articles are shown with the closing price on their publication date and are not a track record of recommendations — we made none. Digital assets are volatile and can fall as fast as they rose. Rates.my holds no CMSA licence, issues no price targets, and none of this is a recommendation to buy or sell.
Sources & further reading
- Yahoo Finance chart data — BTC, ETH, SOL, HYPE and S&P 500 closes, computed 21 Aug 2026
- Securities Commission Malaysia — registered digital asset exchanges
- Rates.my, 9 Aug — Bitcoin back near $65k on ETF inflows
- Rates.my, 4 Aug — the piece that called it flat
- Rates.my, 20 Aug — 24/7 markets and the Hyperliquid comment
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This article is general information, not personalised financial advice. Rates.my is not a licensed financial adviser — always verify rates with the institution and consider your own circumstances.
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