Spot Bitcoin exchange-traded funds in the United States drew $517.19 million in net inflows on Wednesday, marking the strongest single-day surge since May 4. The increase came as Bitcoin’s price surpassed $69,000 for the first time in two months, underscoring a notable resurgence in institutional investor activity.
BlackRock’s IBIT dominates ETF inflowsBlackRock’s iShares Bitcoin Trust (IBIT) accounted for $284.7 million of the total inflow, maintaining a significant lead over competitors. ARK 21Shares’ ARKB followed with $77.7 million, while Fidelity’s FBTC captured $62.4 million during the same session. Eight out of twelve registered funds posted positive inflows, reflecting broad participation and renewed confidence in regulated crypto investment vehicles.
SoSoValue data indicated that this was the largest daily intake for U.S. spot Bitcoin funds in over three months, helping push their combined net assets to $84.31 billion. This total equals around 6.08% of Bitcoin’s overall market capitalization. Cumulative ETF inflows now stand at $52.79 billion, with IBIT alone responsible for more than half of Wednesday’s intake.
The distribution of inflows across multiple funds, rather than being concentrated in a single product, has been described by analysts as a positive signal of institutional demand within the sector. Recent analysis by VanEck revealed that the 30-day net inflow reached $663 million, recovering much of the $2.4 billion in outflows experienced the previous month. Wednesday’s allocation represented nearly 78% of that 30-day total, altering the prevailing narrative on demand for U.S. crypto ETFs.
Prior months had been characterized by withdrawals throughout May and June, with client flows turning more erratic through July and early August. The renewed inflows indicate that institutional investors are returning when liquidity improves. Rachael Lucas, representing BTC Markets, described the purchases as a move geared toward longer-term positioning by investors operating under formal compliance structures rather than short-lived retail speculation.
VanEck’s recent analysis pointed out that almost 78% of the prior 30-day ETF inflow was matched in a single day, signaling a swift change in institutional sentiment following a drawn-out period of withdrawals.
Treasury actions and regulatory shifts support risk appetiteThe ETF inflows coincided with a rally that accelerated after the U.S. Treasury announced it would double the cap on its long-end bond buybacks from $2 billion to at least $4 billion per operation. This program, targeting 10-to-30 year maturities, will run from September 9 through November 4, the end of the refunding quarter. The Treasury cited robust market offers as a reason for the increase and intends to review sizing after November.
Bond yields declined on the announcement, the dollar weakened, and risk assets rallied. Jeff Mei of BTSE suggested that the Treasury’s policy shift sparked renewed risk appetite, fueling both ETF inflows and the cryptocurrency’s price strength.
On the regulatory front, the U.S. Securities and Exchange Commission unveiled proposals introducing new exemptions for crypto investment contracts. The updates would allow offerings up to $5 million over four years or up to $75 million per year, accompanied by additional disclosure requirements. Market analysts noted that these measures may further support institutional participation.
Technical and structural shifts shape Bitcoin’s outlookTechnically, Bitcoin’s price reached $69,892 before trading around $69,514, near its 200-day trend zone and at the midpoint of its broader $60,000 to $80,000 range. Analyst Daan Crypto Trades observed that Bitcoin generated a new higher high while testing its critical 200-day moving average and exponential moving average. This region remains closely watched for signs of whether upward momentum could carry BTC past $70,000 in the coming sessions.
Daan Crypto Trades explained that Bitcoin’s trend remains upward after retracing much of June’s sharp decline, but the asset is now positioned in the center of its established range, and several key technical levels remain in play.
Expectations are for continued volatility as the market navigates ongoing resistance. Sustained closes above the moving average area would offer a stronger technical signal for further gains.
Against this backdrop, a significant transformation is underway as Wall Street increasingly shifts toward Web3. Investors have begun using platforms such as 1stepSwap to directly hold tokenized shares of leading U.S. companies, as well as gold and silver, in their crypto wallets. By tokenizing real-world assets and automatically searching for the best available prices, these platforms eliminate intermediaries and enable near-instant execution.
The combination of ETF inflows, government policy actions, regulatory adaptation, and technological innovation is shaping a new landscape for crypto and traditional asset markets alike.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
A cutout of US President Donald Trump holding a Bitcoin is displayed on a group of servers during The Bitcoin Conference at The Venetian Las Vegas in Las Vegas, Nevada, on May 27, 2025. (Photo by Ian Maule / AFP) (Photo by IAN MAULE/AFP via Getty Images)
AFP via Getty Images
"Bitcoin has jumped to nearly $70,000, rising from below $65K as a $1.3B short squeeze," the news account @thedailyblock posted on X on August 19. Binance data backs it up: a $70,000 high on August 19, $71,570 on August 20, the first prints above the level since June 2, and $71,200 at the time of writing.
"First time above $70K since June 2nd. 163,000 traders liquidated in 24 hours," posted the trader behind @dxttools, as the squeeze that started at $65,000 on August 18 kept running. He credited a White House push on crypto legislation and "the US Treasury DOUBLING its long-term bond buyback program to crush yields." Tallies of liquidated shorts varied by poster, from @thedailyblock's $1.3 billion to the $2.7 billion @dxttools cited.
"Before that happens, I think $BTC could make a liquidity run toward $70K," the analyst account @BitcoinIntelX wrote on August 16, three days before it happened. "That's exactly where the trap could be." The account's roadmap: a few days of distribution, a liquidity sweep near $57,000, then a "Final flush toward the ~$44K bottom zone." The conclusion was blunt: "In my view, the final capitulation before the cycle bottom hasn't happened yet."
"I'm still not bullish. I still think there's one final brutal flush coming before the real move begins," the trader @0xPhantomDefi wrote on August 17, sketching his bitcoin price prediction as a fork: a bear path from $64,000 through $57,000 to $49,000 against a bull path through $74,000 to $95,000. "The market is eating every sell order thrown at it," he posted, adding that "for the first time in months, it's making me seriously question my bearish thesis."
'Buy Bitcoin While It's Dirt Cheap'"AI superbubble crash 50/50 odds within 3 months. Buy Bitcoin while it's dirt cheap," posted @diglloyd on August 14. On August 10, Nvidia announced financing platforms with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to mobilize more than $500 billion, a risk Forbes contributor Jim Osman flagged. BlackRock also runs the biggest spot bitcoin ETF.
"That second one is the real story. This is a liquidity operation, not a demand signal," @dxttools wrote of the buyback move. Maelstrom's Arthur Hayes counts $1.5 trillion of AI debt since 2022 and says it soaked up the money that would have chased bitcoin. The New York Fed's John Williams, per Yahoo Finance, was unmoved: "I don't see this as a bubble kind of situation."
'The Trap Is Set'"The shorts are getting overcrowded at the bottom of a massive volume shelf," @mayaivanoff wrote on X on August 14. "Annualized funding rates are dead flat. Retail speculative fever is gone. Perpetual shorts are piling in heavily right into concrete structural support." The post put the fuse at $64,800 to $65,200 and the wall at $67,000 to $68,750, both since cleared. "Markets rarely top out when funding is flat."
"So I hold both thoughts at once. The model says 35k. The conditions that would get us there aren't present," @0xautopsy wrote the same day, noting that "Equities are at all time highs while BTC sits 50% below its own." His base case still sits under the current price: "My own distribution puts the median closer to 48k, and that's where I still sit."
Michael Terpin, the Transform Group founder, put the cycle argument this way on the On The Margin podcast: "We have been following the four-year cycle unbelievably well," he said, and yet in every bear market "the majority of pundits say the cycle is broken."
The US spot bitcoin funds shed $389.7 million in the week through August 14, then took in $189.3 million on August 18, led by BlackRock's IBIT, per Bloomberg and Cointelegraph. As @dxttools put it: "Enjoy the candle, it's a good one. Just know what's underneath it."
A cutout of US President Donald Trump holding a Bitcoin is displayed on a group of servers during The Bitcoin Conference at The Venetian Las Vegas in Las Vegas, Nevada, on May 27, 2025. (Photo by Ian Maule / AFP) (Photo by IAN MAULE/AFP via Getty Images)
AFP via Getty Images
"Bitcoin has jumped to nearly $70,000, rising from below $65K as a $1.3B short squeeze," the news account @thedailyblock posted on X on August 19. Binance data backs it up: a $70,000 high on August 19, $71,570 on August 20, the first prints above the level since June 2, and $71,200 at the time of writing.
"First time above $70K since June 2nd. 163,000 traders liquidated in 24 hours," posted the trader behind @dxttools, as the squeeze that started at $65,000 on August 18 kept running. He credited a White House push on crypto legislation and "the US Treasury DOUBLING its long-term bond buyback program to crush yields." Tallies of liquidated shorts varied by poster, from @thedailyblock's $1.3 billion to the $2.7 billion @dxttools cited.
"Before that happens, I think $BTC could make a liquidity run toward $70K," the analyst account @BitcoinIntelX wrote on August 16, three days before it happened. "That's exactly where the trap could be." The account's roadmap: a few days of distribution, a liquidity sweep near $57,000, then a "Final flush toward the ~$44K bottom zone." The conclusion was blunt: "In my view, the final capitulation before the cycle bottom hasn't happened yet."
"I'm still not bullish. I still think there's one final brutal flush coming before the real move begins," the trader @0xPhantomDefi wrote on August 17, sketching his bitcoin price prediction as a fork: a bear path from $64,000 through $57,000 to $49,000 against a bull path through $74,000 to $95,000. "The market is eating every sell order thrown at it," he posted, adding that "for the first time in months, it's making me seriously question my bearish thesis."
'Buy Bitcoin While It's Dirt Cheap'"AI superbubble crash 50/50 odds within 3 months. Buy Bitcoin while it's dirt cheap," posted @diglloyd on August 14. On August 10, Nvidia announced financing platforms with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to mobilize more than $500 billion, a risk Forbes contributor Jim Osman flagged. BlackRock also runs the biggest spot bitcoin ETF.
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"That second one is the real story. This is a liquidity operation, not a demand signal," @dxttools wrote of the buyback move. Maelstrom's Arthur Hayes counts $1.5 trillion of AI debt since 2022 and says it soaked up the money that would have chased bitcoin. The New York Fed's John Williams, per Yahoo Finance, was unmoved: "I don't see this as a bubble kind of situation."
'The Trap Is Set'"The shorts are getting overcrowded at the bottom of a massive volume shelf," @mayaivanoff wrote on X on August 14. "Annualized funding rates are dead flat. Retail speculative fever is gone. Perpetual shorts are piling in heavily right into concrete structural support." The post put the fuse at $64,800 to $65,200 and the wall at $67,000 to $68,750, both since cleared. "Markets rarely top out when funding is flat."
"So I hold both thoughts at once. The model says 35k. The conditions that would get us there aren't present," @0xautopsy wrote the same day, noting that "Equities are at all time highs while BTC sits 50% below its own." His base case still sits under the current price: "My own distribution puts the median closer to 48k, and that's where I still sit."
Michael Terpin, the Transform Group founder, put the cycle argument this way on the On The Margin podcast: "We have been following the four-year cycle unbelievably well," he said, and yet in every bear market "the majority of pundits say the cycle is broken."
The US spot bitcoin funds shed $389.7 million in the week through August 14, then took in $189.3 million on August 18, led by BlackRock's IBIT, per Bloomberg and Cointelegraph. As @dxttools put it: "Enjoy the candle, it's a good one. Just know what's underneath it."
Bitcoin is on the run again, taking the entire market with it. Here are some of the possible reasons behind this impressive rally.
It gives us great (mostly unbiased) pleasure to write such an article, especially after weeks and months and nearly a year of painful declines or lack of any actual upside movement. After all, the cryptocurrency market is used to explosive movements, but this wasn’t the case for a long time. At least not in the ‘right’ direction.
Let’s quickly recap what happened in the past 24 hours: bitcoin traded at $64,400, then exploded to $70,000, then it was briefly pushed back to $68,000, then went on the offensive again, and then rocketed past $71,000 minutes ago for the first time since very early June.
As Glassnode put it, this was its most impressive daily close since February, but that one followed a major retracement. What makes the current pump so spectacular is that it had “no crash to bounce off.”
The last daily bitcoin:native close this large was in February, and that was just the rebound from the -14% day before it.
This one had no crash to bounce off. Against its own 30d volatility it was a 5.8 sigma move – the largest to the upside since October 2023. pic.twitter.com/SqiitTuTYc
— glassnode (@glassnode) August 20, 2026
The Main Catalyst Perhaps the most important factor behind this mind-blowing surge was the US Treasury Department’s announcement that it will at least double the maximum size of liquidity-support buybacks for longer-dated government debt. It will raise them from $2 billion to at least $4 billion per operation, and the changes will commence on September 9 and will continue until November 4.
This announcement came after the 30-year Treasury yield hit 5.34% on Tuesday, the highest level in nearly 20 years, as inflation concerns, heavy government borrowing, and concerns about the overall US fiscal outlook skyrocketed. The same Treasury yield dropped immediately to 5.20%, while stocks, gold, and crypto moved in the opposite direction. The dollar weakened as lower bond yields can make non-yielding and riskier assets relatively more attractive.
More US-Related Reasons Since we are on the US topic, let’s explore two more possible factors that could be regarded as promising for risk-on assets. The first came from the POTUS, who paused the tariffs against Canada and later announced a deal to cut some of them from 25% to 15%. Tariff news has impacted BTC for over a year and a half, and trade deals tend to benefit the asset’s moves.
You may also like: This Bitcoin Cycle Pattern Could Set Up a 1,000% Rally: Analyst HYPE Skyrockets Past $70 as Trump Reveals CFTC Push for Hyperliquid’s US Entry Over $1B in Liquidations as Bitcoin Surges to 2-Month High Above $69K The other one, expectedly, also came from Trump. This time, though, it concerned Iran. Instead of warning of new ballistic attacks, the POTUS took a different approach, targeting the country’s economy.
After admitting that the Iranian government had failed to make a deal with the US, he outlined the new strategy, which will focus on bringing the country down through economic activity.
“I am announcing the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY! This will be Economic Warfare and Isolation on an unprecedented scale. Their navy is gone, their air force is destroyed, their military factories are now rubble, their currency is worthless, and their country is hanging by a thread.”
Obviously, this is not the perfect outcome, especially for Iran, but at least there are no new damaging physical attacks or another threat of a nuclear massacre. Risk assets like that.
ETFs and OI Now let’s focus more on BTC itself. The first reason here is the ETF inflows. Data from SoSoValue shows that the daily net inflows stood at just over $517 million for yesterday. This was the highest number since early May, when the flows were $630 million and $532 million for two consecutive trading sessions. Recall that bitcoin went on an impressive run back then, peaking at $83,000 within a week or so.
To put things into perspective, the netflows yesterday alone were a lot higher than the entire month of July, when the funds attracted $172.43 million.
Lastly, let’s examine the open interest, which had built up to its highest position since 2023. When leverage increases so much, every smaller move becomes much larger, which is evident from the cascade of liquidations of traders betting on the wrong side.
And the OI just a few days before yesterday’s explosion was even higher than before the October 2025 massacre, when the liquidations topped $19 billion. In other words, something was brewing for weeks, as BTC doesn’t like standing in one spot for too long.
Bitcoin surpassed $70,000 for the first time in over two months, propelled by US Treasury Secretary Scott Bessent’s successful move to push US bond yields lower and a high-stakes meeting President Donald Trump held with industry leaders.
Bitcoin rose more than 3% to over $71,500, its highest level since June 1. Other digital assets were also up for the day. A token associated with offshore exchange Hyperliquid climbed 23% in 24 hours, according to CoinGecko data, after Trump indicated the US is looking at options for allowing the derivatives platform to operate in the country.
The crypto market rose along with risk assets following US plans to buy back longer-dated treasuries, which sent yields tumbling and the dollar to a three-month low.
“When yields drop and the dollar weakens, risk assets tend to rally, and we’ve already seen Bitcoin move higher on the news,” said Jeff Mei, chief operating officer at BTSE.
Thursday’s move builds on Bitcoin’s 7% surge yesterday that wiped out $2.7 billion in cryptocurrency short positions in 24 hours, according to CoinGlass data.
Positive sentiment returned to the crypto market Wednesday after Trump met with crypto executives from firms including Coinbase Global Inc., Payward Inc. and Blockchain.com Group Holdings Inc. The move helped revive optimism around the Clarity Act, a crypto market structure bill that failed to make it to a vote before the Senate’s August recess.
Coinbase (NASDAQ: COIN) stock price gained by 9.55% on August 19 to close trading at $160. The gains occurred after planned US Treasury buybacks boosted crypto market sentiment, with Bitcoin (BTC) surging to $71,200. The stock is also gaining fresh attention after the Office of the Comptroller of the Currency (OCC) announced that it is working on GENIUS Act stablecoin rules.
OCC Works to Finalize Stablecoin Rules The US Comptroller of the Currency, Jonathan V. Gould, has revealed that the OCC will have the final stablecoin rules under the GENIUS Act in November, adding that the institution began working on those rules before President Trump signed the stablecoin bill into law.
Gould added that the GENIUS stablecoin rules would birth a new industry in payment stablecoins, which the OCC would regulate and supervise.
“It actually brings us back to our original mission back in the 1860s when we were created, which is ensuring that the reserve assets backing then national bank-issued notes were of the same level of quality,” Gould opined.
Gould’s statement comes as federal agencies begin rulemaking for the bill one year after it passed. As CoinGape earlier reported, the US Treasury is also seeking public comments on the GENIUS Act before implementing it.
COIN Stock Prediction as Price Posts Biggest Single Day Gain Since May Coinbase shares opened trading at $147 on August 20 before closing at $160. The gains saw the stock close with its biggest single-day gain since May 11.
The gains posted by COIN stock price mirror the bullish sentiment across the broader crypto market as Bitcoin and altcoin prices rose after the US Treasury Secretary Scott Bessent said that the US government will buy back US Treasuries to steady the bond market, with the improved liquidity boosting demand for risk assets.
COIN stock is now testing resistance at the 50-day EMA of $160. If it closes above this resistance, the price could move to the 150-day EMA of $172, before a move to $190 occurs if buyers sustain the momentum.
The RSI reading of 53 also shows that the momentum is now leaning bullish, while the RSI line that is creating a higher high suggests that sellers have lost their power as buyers take over.
COIN Price Chart (Source: TradingView) Pre-market trading also confirms that the gains will likely continue today, August 20, because the stock was up by 7% in pre-market to trade at $171.
However, if the buying pressure eases, the price of COIN stock could move to test the support at the 20-day EMA of $153.
CLARITY Act Boosts Gains For COIN Stock The CLARITY Act bill is making headlines again after Coinbase CEO Brian Armstrong met with President Trump and other crypto executives at the White House on August 19, with that meeting also boosting gains for COIN stock price.
Armstrong opined that President Trump has affirmed the US government’s commitment to pass the CLARITY Act bill, adding that both the SEC and the CFTC are aligned in supporting the bill’s passage.
CoinGape prediction markets show that the meeting did not increase the odds of this bill passing, with traders betting a 24% chance that the bill will pass in 2026.
The US Congress is expected to vote on the CLARITY bill on September 15, with Armstrong saying that the vote is now the “most important thing.”
Bitcoin [BTC] led the broader crypto market as its rebound strengthened the case for a July bottom.
BTC gained by double digits, pushing its Market Cap above $1.40 trillion. Institutions, whales, and retail traders bought, while forced short closures amplified the rally. As a result, Bitcoin escaped its sideways range and reached $69.84K, preserving short-term bullish momentum.
Institutional capital forces massive short liquidations One of the institutions was BIT.com, formerly Matrixport. The institution withdrew 894.72 BTC valued at $61.93 million from Binance to an external wallet. This accumulation came shortly after another 3.38 BTC buy worth $234K.
Source: Onchain Lens Apart from the institutional capital, the uptrend was accelerated by short squeezes.
The crypto market saw the largest short liquidation ever, of $2.66 billion, surpassing the October 10th crash that wiped out $2.46 billion. Of this total, BTC short orders worth $1.13 billion were wiped out, with whales suffering the largest losses.
Source: CoinGlass For instance, one lost 1,800 BTC worth $117 million, while others lost 677 BTC and 500 BTC, worth $44 million and $33 million, respectively.
Can BTC break past $70K? Bitcoin’s technical structure also supported the move. BTC had traded between $59K and $67K since early June before clearing the two-and-a-half-month resistance.
Such compression can precede a breakout when demand finally overwhelms range sellers. The CMF climbed to approximately 0.21, supporting the capital-inflow narrative.
Meanwhile, the CVD showed that buying pressure dominated the Spot market.
Source: BTC/USDT on TradingView If BTC holds above $67K, it could clear $70K and target $75K. However, explosive advances often revisit their breakout zones before continuing. A retest would decide whether $67K became support or remained a temporary escape hatch.
Could Bitcoin sweep liquidity below $67K? Despite the bullish structure, liquidity still presented a sharp downside risk.
More than 1,037 Long Liquidation Levels sat below $67K, compared with 136 Short Liquidation Levels. That left a difference of 901 levels below the market.
Prices often gravitate toward dense liquidity, leaving the breakout vulnerable to a downside sweep. Even so, the Delta showed that smart money remained tilted toward buying in the short term.
Source: Hyblock Capital Thus, $66K-$68K remains a key level to watch to determine if BTC will continue pumping, as the price needs to hold. On the contrary, the price may drop below this zone to sweep the long liquidity resting below.
Final Summary Bitcoin rebounds by double digits amid capital inflows and a spike in short-order liquidations. Bitcoin’s price broke above a two-and-a-half-month resistance, but long liquidation levels below $68K risk a downside sweep.
Key Takeaways Treasury Department plans to expand purchases of long-term government bonds by at least double beginning September, triggering a yield decline Bitcoin jumped more than 9%, crossing the $70,000 threshold for the first time since June Major equity indices including the S&P 500, Dow Jones, and Nasdaq each rose 0.2% Wednesday, ending a three-session decline Minutes from the Federal Reserve’s July policy meeting revealed three members favored raising interest rates, indicating hawkish sentiment America’s national debt surpassed the $40 trillion mark amid escalating tensions with Iran In a dramatic market reversal, Bitcoin soared to $70,000 for the first time in over two months following an unexpected Treasury Department announcement to significantly expand its long-dated bond purchasing program. Equity markets found their footing while Treasury yields retreated from recent highs.
The Treasury Department revealed plans to increase its acquisition of longer-maturity government securities by a minimum of 100% beginning in September. This strategic intervention successfully eased tensions in the bond market that had been weighing on equity valuations throughout the week.
Benchmark 10-year Treasury yields declined approximately 5 basis points to settle at 4.65%. Meanwhile, 30-year bond yields decreased 9 basis points to 5.19%. Declining yields generally provide support for risk-oriented assets including equities and cryptocurrencies.
The cryptocurrency market responded aggressively to the news. [[LINK_START_1]]Bitcoin[[LINK_END_1]] surged over 9%, breaking through the psychologically significant $70,000 level—a price point last seen in early June.
Early Thursday trading showed stock index futures holding steady. S&P 500 futures registered modest gains, Dow futures remained relatively unchanged, and Nasdaq-100 futures advanced approximately 0.2%.
E-Mini S&P 500 Sep 26 (ES=F) Federal Reserve Minutes Reveal Hawkish Dissent Wednesday’s release of Federal Reserve meeting minutes from the July 28-29 session disclosed that three policymakers advocated for implementing a 25-basis-point interest rate increase. This dissent represented a more aggressive stance than markets had anticipated.
Multiple committee members expressed concerns that additional monetary tightening might become necessary should inflation remain persistently above the central bank’s 2% objective. During that July meeting, the Fed maintained its policy rate within the 3.50% to 3.75% range.
Federal Reserve Chair Kevin Warsh had previously indicated a preference for allowing market forces to contribute to economic tightening. However, Treasury Secretary Scott Bessent’s bond-purchasing initiative may undermine that strategy.
Despite the hawkish tone of the minutes, market participants appeared more focused on the Treasury’s intervention, which had a more pronounced impact on investor sentiment.
Energy Markets, Geopolitical Tensions, and Fiscal Concerns Oil prices commanded significant attention as well. International crude benchmarks climbed back toward $92 per barrel following diminished expectations for a rapid resolution to US-Iran tensions. Elevated energy prices could sustain inflationary pressures.
President Trump announced via Truth Social that the United States intends to initiate what he termed “Economic D-Day” targeting Iran, describing plans for unprecedented economic isolation and financial warfare against the nation.
BREAKING: Trump announces "the most crushing economic operation ever taken against a country" against Iran.
Trump implies the US will directly target China and Russia, saying "any country that allows its financial institutions, businesses, airports, or government entities to… pic.twitter.com/Hu3fzEyC0x
— The Hormuz Letter (@HormuzLetter) August 19, 2026
America’s total national debt eclipsed the $40 trillion threshold, having more than doubled within the past ten years. This fiscal milestone intensified ongoing concerns regarding the nation’s long-term economic sustainability.
Among individual equity movers, Moderna experienced a remarkable rally of nearly 177% following encouraging clinical trial data for a personalized mRNA-based cancer treatment developed in partnership with Merck. The healthcare sector gained 3.5% on the strength of this news.
Walmart is scheduled to release quarterly earnings on Thursday. Wall Street analysts anticipate solid performance but project deceleration in revenue growth.
U.S Treasury’s planned bond market intervention seems to have reignited the debasement trade as Bitcoin flipped bullish.
Notably, the crypto asset reclaimed the 200-day Moving Average (a crucial long-term market structure test) for the first time since dropping below $100K last November.
Source: BTC/USDT, TradingView Back in Q2, BTC’s rally and attempt to reclaim the key 200-day MA (currently at $69K) were rejected. As such, the recent breakout above the level “might mean something,” according to analyst Scott Melker.
Can Bitcoin climb higher? From an on-chain perspective, the short-term holder (STH) cost basis at $67K was also reclaimed. According to analyst Frank, this suggested that bulls may be “taking back control of the market.”
However, Glassnode noted that a true trend reversal could be confirmed if the True Mean level of $76K is also reclaimed. Otherwise, the market was still in the capitulation stage.
Source: Checkonchain So, can the bond intervention usher in the onset of the next crypto bull run?
Bitcoin: Impact of bond market intervention On the 19th of August, the U.S. Treasury announced plans to double long-end bond buybacks.
Starting on the 9th of September, buybacks would rise from $2 billion to $4 billion. The program covered longer-dated Treasuries, including 10-year and 30-year coupons. The move aimed to reduce borrowing costs as Treasury yields climbed.
The 30-year yield exceeded 5%, while the 10-year yield traded above 4.6%.
Source: X In other words, the Fed will print more money, which could increase inflation and liquidity too. Like gold, BTC rallied +7% and reclaimed $69K on the update.
The two and other scarce assets have always been viewed as a debasement hedge. Especially when it comes to government spending-driven inflation and reckless fiscal debt.
In fact, Bitcoin and gold’s positive correlation has hit record levels last seen in 2024, reinforcing a regime shift and the debasement trade.
Source: CryptoQuant Since a rising tide lifts all boats, the rest of the crypto market benefited from BTC’s surge and amplified short squeeze. In fact, ETH rallied 17%, as SOL and XRP pumped 10% on Wednesday.
If the debasement trade holds, the trend may extend and lift the sector higher, according to Tushar Jain, managing partner at crypto VC firm Multicoin Capital.
The monetary debasement trade is back and is the catalyst for a market regime change. I expect substantial crypto outperformance for the rest of the year.
Overall, the positive BTC-gold correlation signals a regime shift, and the U.S Treasury move could be a great catalyst for the crypto market, according to analysts.
Final Summary U.S Treasury to double bond market intervention, sending BTC surging 7% BTC-gold positive correlation hit a 2-year high, signaling the debasement trade may be back
Bitcoin has suddenly surged by more than 10% over the last 24 hours, following quiet signs an even bigger move could be around the corner.
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The bitcoin price has topped $70,000 per bitcoin after spending months at around $60,000, with BlackRock sending the market a surprise signal earlier this month. Ethereum, up 20%, and other major cryptocurrencies including Ripple’s XRP, up 15%, and Hyperliquid’s hype, up 25%, also rocketed higher.
Now, as the Federal Reserve grapples with its bitcoin nightmare coming true, U.S. federal-government debt has passed $40 trillion for the first time—just as the Treasury said it will buy back more long-term government bonds in a desperate attempt to contain soaring borrowing costs.
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ForbesGrowing $1.8 Trillion ‘Panic’ Fears Could Be About To Blow Up The Bitcoin PriceBy Billy Bambrough
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U.S. Treasury secretary Scott Bessent announced the Treasury would buy back more long-term government bonds just as U.S. federal-government debt passed $40 trillion for the first time.
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The U.S. Treasury surprised the market by announcing it would “at least double” purchases of long-term government debt as it scrambles to contain a sell-off that has sent borrowing costs soaring.
"The U.S. Department of the Treasury is increasing, by at least double, the size of liquidity support buyback operations for longer-dated nominal coupon securities (the 10-year to 20-year sector and the 20-year to 30-year sector). The current maximum size of $2 billion per operation will be at least $4 billion per operation," a Treasury spokesperson wrote in a press release.
This is “exactly the type of thing bitcoin loves,” Geoffrey Kendrick, Standard Chartered Bank’s head of crypto, wrote in an emailed note.
“Bitcoin, a way to store wealth without a central authority, was built to allow investors a way to avoid this type of intervention … Investors should now be positioning for a move to $100,000 by year-end 2026.”
The news, coming just as U.S. president Donald Trump welcomed bitcoin and crypto company executives to the White House and called for Congress to pass the stalled crypto market structure bill known as the Clarity Act, was cheered as a turning point for the bitcoin price, which has missed out on this year’s artificial intelligence-led stock market rally.
"The U.S. is doubling it’s purchases of it’s own debt," crypto trader Ran Neuner
posted to X. “This effectively means that they issuing debt and then printing money to buy it back. In other words, the money printer is back on.”
Government money printing, designed to support economic growth, has been largely credited with bitcoin’s major rallies over the last 15 years, with bitcoin’s mysterious creator Satoshi Nakamoto referencing government bailouts directly when they created bitcoin in 2008.
“Bitcoin has been coiled for 81 days in the same range,” Neuner added. “These coils land up in big moves. The bigger the coil, and this one was big, the bigger the move. Bitcoin responds to liquidity and the U.S. just caved. This could be a long and sustained move."
The reason for bitcoin’s huge rally, coming after such a long spell of relatively price stability, has been misinterpreted, according to some market watchers.
“Bitcoin is surging because the Treasury has signaled it will do whatever it takes to keep long end yields from flying up, up and away,” James Lavish, co-managing partner of Bitcoin Opportunity Fund, posted to X, dismissing a Bloomberg report that credited the Trump meeting with crypto executives at the White House for the bitcoin price surge.
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ForbesThe Fed’s Bitcoin Nightmare Is Suddenly Coming TrueBy Billy Bambrough
The bitcoin price has suddenly shot higher, igniting hopes among the bitcoin and crypto faithful that the bull run is back.
Forbes Digital Assets
Regardless of the reason behind bitcoin’s pump, the bitcoin and crypto faithful are cheering the move as a sign of things to come.
"Buckle up," Cameron Winklevoss, who in 2014 founded the Gemini New York-based crypto exchange with his twin brother Tyler 10 years after suing Mark Zuckerberg over Facebook’s founding, posted to X.
The Winklevoss twins, who have cultivated a close relationship with the Trump’s White House and the Republican Party, appeared alongside Trump at a press briefing, where Trump said the U.S. is open to buying a significant amount of bitcoin.
“Certainly it’s been talked about," Trump said when asked by a reporter if his administration could buy “sizeable amounts" of bitcoin for the U.S. bitcoin strategic reserve he created with an executive order last year and has been stocked with bitcoin and other cryptocurrencies seized by law enforcement.
“[The bitcoin reserve has] taken a lot of pressure off the dollar. It’s been very, very good for the dollar, and I think if you came in with recommendations, I would certainly listen,” Trump said, referring to U.S. Securities and Exchange Commission (SEC) chair Paul Atkins and Commodity Futures Trading Commission (CFTC) chair Mike Selig.
Earlier this week, the SEC surprised the market by dropping its long-awaited first major crypto rule, generally known as “Reg Crypto,” designed to create a safe harbor for crypto companies that would have otherwise had to comply with securities laws that they have claimed stifled the technology’s growth.
At the press conference, Trump signaled Hyperliquid, the decentralized exchange that’s found massive popularity with its 24/7 oil “perpetual futures” trading through the U.S.-Iran war, could be given U.S. regulatory approval.
“I understand that [Commodity Futures Trading Commission Chair] Mike [Selig] is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion,” Trump said at the press conference.
Speaking to CNBC, David Schamis, the chief executive of hype treasure company Hyperliquid Strategies and founding partner at Atlas Merchant Capital, said his company has “been trying for awhile to figure out how to get into the U.S. and the CFTC has been quite responsive, but when Trump says it at a press conference, it means it’s a priority.”
Hyperliquid Strategies rocketed by 30% during Wednesday’s trading session, with other crypto treasury companies including major bitcoin buyer Strategy also seeing outsized performance compared to their underlying assets.
Solana price surged 11% within 24 hours, reaching $85.87 as momentum strengthened across the broader cryptocurrency market. SOL also posted its best daily close in three months, consolidating the prospects of a potential advance to $100.
The trading activity shot up, and the 24-hour volume increased by 270% to reach $5.26 billion. The Fear and Greed Index was at 62, demonstrating an increasing optimism among cryptocurrency investors.
CMC data White House Summit Strengthens Market Sentiment The global cryptocurrency market increased by 7.86% to reach 2.37 trillion after positive regulatory signals by Washington. President Donald Trump indicated that America could buy large quantities of Bitcoin and other cryptocurrencies.
Trump was also in favor of promoting the Crypto Clarity Act and he used the term Hyperliquid in reference to the regulated access to the United States market. The news stimulated investors to get back to riskier assets, months after uneven performance in the markets.
Bitcoin price rallied from $64,000 and briefly reached $71,000 for the first time since June. Ethereum price rose by 18% to over $2,250, and Hyperliquid rose by over 23%.
XRP price advanced 10%, and Dogecoin added almost 8%. Continued momentum could help SOL test the psychological $100 level.
Solana ETFs Attract $2.10 Million as Net Assets Near $1 Billion On August 19, Solana spot ETFs registered $2.10 million in net inflows daily, raising cumulative inflows to $1.16 billion. Total trading volume has been 98.49 million, net assets have been 986.76 million, which is 2% of the market value of Solana.
Sosovalue data Bitwise BSOL had the highest inflows of $5.63 million and Grayscale GSOL had the highest outflows of $3.12 million. According to Coinglass data, GSOL increased by 7.02% as Solana funds in general went up throughout the session. Institutional demand thus was solid throughout regulated investment products.
Solana Derivatives Volume Surges 170% as Market Activity Rises Solana futures trading gained momentum as traders expanded the exposure of futures and options markets. The trading volume increased 170% to $12.81 billion, indicating increased involvement in the market. The open interest increased by 10.28 to $5.75 billion, indicating new positions were introduced in the market.
SOL Volume Options volume had reached the highest point of reported values at 438.19% to $29.81 million. Open interest in options, also increased by 7.44% to 104.16 million. This indicates that traders had broadened Solana exposure despite increased short-term speculation in the derivatives markets over the period.
Solana Price Surges Toward $90 as Bulls Target $100 SOL price shot to $87.60 on August 20, and it continued to extend its breakout in a sharp uphill channel.
The Relative Strength Index is 85.98, and SOL is clearly in overbought territory.
The Chaikin Money Flow metric is 0.44, indicating that there are high capital flows into Solana.
Solana price is above $85 and this was resistance in the recent progress. This level is now offering instant support and may be the decisive factor as to whether the rally is to be continued.
The trading above $85 sustained would consolidate the bull structure and motivate a succession to $90. An established breakout at or above $90 may open up $95 as the next significant target.
SOL/USDT 4-hour chart: Tradingview The additional push can bring the future SOL price outlook to its potential 14% break out area. Nonetheless, the loss of $85 might undermine the structure and drive the price to the lower limit of the channel.
According to HTX market data, Bitcoin has broken through the $72,000 mark, with a 11.8% increase in the past 24 hours.
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[LONDON] Bitcoin surpassed US$70,000 for the first time in over two months, propelled by US Treasury Secretary Scott Bessent’s successful move to push US bond yields lower and a high-stakes meeting President Donald Trump held with industry leaders.
Bitcoin rose more than 3 per cent to over US$71,500, its highest level since June 1. Other digital assets were also up for the day. A token associated with offshore exchange Hyperliquid climbed 23 per cent in 24 hours, according to CoinGecko data, after Trump indicated the US is looking at options for allowing the derivatives platform to operate in the country.
The crypto market rose along with risk assets following US plans to buy back longer-dated treasuries, which sent yields tumbling and the dollar to a three-month low.
“When yields drop and the dollar weakens, risk assets tend to rally, and we’ve already seen Bitcoin move higher on the news,” said Jeff Mei, chief operating officer at BTSE.
Thursday’s move builds on Bitcoin’s 7 per cent surge yesterday that wiped out US$2.7 billion in cryptocurrency short positions in 24 hours, according to CoinGlass data.
Positive sentiment returned to the crypto market on Wednesday after Trump met with crypto executives from firms including Coinbase Global Payward and Blockchain.com Group Holdings. The move helped revive optimism around the Clarity Act, a crypto market structure Bill that failed to make it to a vote before the Senate’s August recess. BLOOMBERG
Bitcoin has been presented as a possible neutral reserve asset after an old video of U.S. Vice President JD Vance resurfaced in which he questioned whether the dollar’s reserve currency status ultimately benefits the United States.
Summary
JD Vance questioned whether dollar reserve status benefits the US economy despite lowering borrowing and import costs. The debate centres on the Triffin dilemma, which describes the conflict created when a national currency also serves as a global reserve. Stablecoins can increase global demand for dollars and US Treasuries without removing the underlying monetary conflict. Bitcoin has been proposed as a neutral reserve asset because its supply does not depend on any country’s debt, trade balance or fiscal policy. The commentary, written by Forbes contributor Dave Birnbaum, builds its argument around Vance’s remarks and the Triffin dilemma, the monetary conflict economist Robert Triffin identified more than six decades ago when examining the dollar’s role in the Bretton Woods system.
Vance, who was a U.S. senator when the video was recorded, described his position as “super heterodox” and questioned whether reserve currency status was necessarily good for the country. He argued that global demand for dollars allows U.S. consumers to purchase foreign goods cheaply and gives the country unusually easy access to borrowing.
The cost, according to Vance, falls elsewhere in the economy. Strong overseas demand for dollars can support a higher exchange rate, making American goods more expensive abroad while imported products become cheaper for U.S. consumers.
Birnbaum argued that the arrangement creates a conflict between the benefits Americans receive from dollar dominance and the pressure placed on domestic manufacturers and exporters.
Dollar reserve status carries a domestic trade-off The dollar’s international position has traditionally been described as an “exorbitant privilege” because the United States can borrow in its own currency while foreign governments, banks and investors maintain large holdings of dollar-denominated assets.
Vance’s comments focused on the other side of the arrangement. A strong dollar increases purchasing power for American consumers but can make U.S.-produced goods less competitive against imports, creating a monetary policy tension with President Donald Trump’s push to increase domestic manufacturing.
Birnbaum argued that tariffs and manufacturing incentives seek to address some of the industrial pressure associated with a strong currency, while maintaining dollar primacy preserves the international demand that can contribute to that strength.
The issue has also gained attention as the dollar’s share of global foreign exchange reserves has gradually declined. The currency accounted for roughly 58% of global reserves in 2026, compared with about 72% in 2001, according to data cited in recent analysis of international currency competition.
Digital dollars have simultaneously extended the currency’s use outside the traditional banking system. As previously covered by crypto.news, about 97% of the stablecoin market was denominated in dollars, meaning users can move outside U.S. correspondent banks without necessarily moving away from the U.S. currency.
The Triffin dilemma exposed the problem under Bretton Woods The monetary conflict described by Vance has roots in the Bretton Woods system established after World War II.
Under that framework, major currencies were linked to the dollar, while foreign monetary authorities could convert dollars into gold at $35 per ounce. International trade required an expanding supply of dollars, forcing the United States to provide liquidity to other countries.
Belgian-American economist Robert Triffin warned Congress in 1960 that the structure contained an internal conflict. If the United States restricted the supply of dollars, the global economy could face insufficient liquidity. Continuing to supply dollars, however, would increase foreign claims against a limited stock of U.S. gold and eventually weaken confidence in convertibility.
The European Central Bank later described the same problem, noting that U.S. monetary liabilities to non-residents had already exceeded American gold holdings by the early 1960s.
Pressure on the system continued until President Richard Nixon suspended dollar convertibility into gold on Aug. 15, 1971. Bretton Woods subsequently gave way to floating exchange rates, leaving Treasury securities and other dollar assets with a much larger role in global reserves.
Some economists have challenged attempts to apply Triffin’s original argument directly to the modern monetary system. A 2017 Bank for International Settlements paper by Robert McCauley and Michael Bordo argued that the claim that the dollar’s international role requires persistent U.S. current-account deficits is flawed because dollars can reach the international system through other channels.
The researchers nevertheless said Triffin’s general argument remains relevant because domestic policy goals can conflict with the responsibilities created when a national currency functions as an international public good.
Foreign demand for American assets remains substantial. An April 2026 U.S. Treasury report put foreign portfolio holdings of U.S. securities at $35.35 trillion as of June 30, 2025, including $13.84 trillion in long-term debt securities and another $1.65 trillion in short-term debt.
Stablecoins extend dollar demand into digital markets Dollar-backed stablecoins have introduced another channel through which international demand can flow into U.S. government securities.
The GENIUS Act established a federal framework for payment stablecoins and requires qualifying issuers to maintain reserves in liquid assets including cash and short-dated U.S. Treasuries.
As a result, growth in regulated stablecoin supply can create additional demand for government debt. A June report on USDC noted that Circle already held most of its reserves in short-dated Treasuries and cash equivalents, with BNY Mellon providing custody and BlackRock managing the Circle Reserve Fund.
Large asset managers have since started building products specifically for stablecoin reserves.
Fidelity Investments launched a reserve fund in June that invests in cash, short-term Treasury securities, overnight Treasury-backed repurchase agreements and other assets permitted under the federal stablecoin framework.
State Street introduced a similar product during the same month and cited industry estimates placing global stablecoin issuance between $1.9 trillion and $4 trillion by 2030.
Birnbaum argued that stablecoins can strengthen dollar use and increase Treasury demand without removing the underlying conflict identified by Triffin. Each dollar token backed by government securities ultimately relies on a U.S. liability, according to his analysis.
Replacing the dollar with another national currency would not necessarily remove the issue either. Under the Triffin framework, another reserve issuer could eventually face similar pressure between supplying international liquidity and managing its own domestic economic priorities.
John Maynard Keynes proposed a supranational reserve unit called the bancor during the Bretton Woods negotiations, but the proposal was rejected in favor of a system centered on the dollar and gold.
Bitcoin reserve case rests on monetary neutrality Birnbaum argued that Bitcoin offers another possible structure because its supply is not created through the fiscal or trade policies of a single country.
Bitcoin issuance follows protocol rules, while ownership can be transferred internationally without a central bank or sovereign issuer providing the underlying reserve liability. Its circulating supply can also be independently verified through the network.
The argument remains far removed from current central bank practice. Bitcoin has existed for about 17 years, and its volatility, custody requirements, and comparatively limited sovereign adoption present obstacles for governments managing large reserve portfolios.
Gold currently occupies a much stronger position as a politically neutral reserve asset. World Gold Council data showed that central banks purchased more than 1,000 metric tons of gold annually in 2022, 2023 and 2024, the first three-year run above that level in its data.
Gold, however, carries physical settlement and verification costs that do not apply in the same way to Bitcoin. Large sovereign transfers require storage, transportation, security, and verification, while Bitcoin ownership can be settled digitally.
The United States has already taken a limited step toward treating Bitcoin as a sovereign reserve asset. Trump signed an executive order on March 6, 2025, creating the Strategic Bitcoin Reserve from BTC obtained through criminal and civil asset forfeitures.
The reserve currently functions primarily as a retention mechanism instead of an active government purchasing program. A June review of the reserve found that the administration had not yet established a regular acquisition program, while the executive order allowed the Treasury Department to examine budget-neutral methods of obtaining additional Bitcoin.
Legislative proposals have gone further. Senator Cynthia Lummis’ BITCOIN Act has proposed building a federal reserve of as much as 1 million BTC over several years, while other proposals have focused on retaining government-held Bitcoin for extended periods.
Birnbaum’s analysis does not argue that Bitcoin is currently ready to replace the dollar or gold across central bank reserves. Instead, it presents Bitcoin as a possible reserve asset that could separate sovereign savings from the liabilities of whichever country issues the dominant international currency.
Under the arrangement he described, dollars could continue to serve contracts, payments and taxation while governments gradually hold more neutral assets as long-term reserves. Gold could retain part of that role alongside Bitcoin, with the latter providing digital settlement and a supply schedule independent of government fiscal policy.
Central banks have so far concentrated their diversification on gold. World Gold Council figures showed official-sector purchases reached 1,136 metric tons in 2022, followed by 1,037 tons in 2023 and about 1,045 tons in 2024.
ETH and HYPE are the two top gainers from the larger caps. XRP has successfully defended the $1.00 support.
It was almost painful for days to write these price updates, but this isn’t the case today, as bitcoin recorded its most impressive surge in 2026 that wasn’t after a notable decline. The asset skyrocketed by several grand yesterday and tapped a two-month peak at over $70,000.
The altcoins have all turned green as well, helping the total market cap add $200 billion in the span of less than 24 hours.
BTC Rocketed Past $70K It was less than a week ago, on Friday, when the bears appeared to be in control of the market, pushing the largest digital asset to $62,500. Although it rebounded in the following days, it remained sideways at $63,000 with little to no indication of an upcoming breakout.
The first signs emerged on Monday and Tuesday as the cryptocurrency gradually increased to $64,000 and even briefly tapped $65,000. It was stopped there and slipped to $64,400 yesterday before all hell broke loose. What took place in the following few hours was almost thought to be impossible in the crypto markets.
Bitcoin initiated a massive leg up that drove it higher by over $6,000 in hours. It smashed through several key resistance zones and finally touched $70,000 for the first time since mid-June. Although it was stopped there at first and slipped to $68,000, the bulls were more persistent and drove it higher to well over $70,000 as of press time again, while the community comments on the possible reasons behind this surge.
Its market capitalization has exploded by over $100 billion in a day to $1.410 trillion on CG. Its dominance over the alts stands tall at 57%.
BTCUSD August 20. Source: TradingView Alts See Nothing But Green Ethereum has taken the main stage during this revival, surging by over 17% to a multi-month peak of its own at $2,270. HYPE has also taken full advantage of the situation, especially after some promising words from Trump, and now sits at $72 following a mind-blowing 24% pump. SOL, XRP, DOGE, RAIN, ZEC, LINK, and BNB are all in the green.
There are a few exceptions, such as XMR and WLFI, but the dominant market sentiment among the alts has flipped significantly.
This has pushed the total crypto market cap to $2.470 billion as of press time – or roughly $200 billion higher than yesterday.
Cryptocurrency Market Overview August 20. Source: QuantifyCrypto Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
The crypto Fear and Greed Index climbed to 62 on Thursday, a Greed reading that wipes out yesterday’s score of 46. The 16-point daily jump ranks among the sharpest sentiment swings of 2026.
Bitcoin (BTC) drove the shift. The largest cryptocurrency gained 8.8% over 24 hours to trade near $69,803, while ether and other majors posted even bigger moves.
What Pushed the Crypto Fear and Greed Index Into GreedThe index blends five inputs, and two of them carry most of the weight. Volatility and market momentum count for 25% each. Both flipped hard once prices moved.
Ether (ETH) led the majors with an 18.5% daily gain to $2,259. Solana (SOL) added 11.9%, and XRP rose 11.2%. Meanwhile, Bitcoin’s market capitalization recovered to roughly $1.4 trillion.
Crypto Fear and Greed Index. Source: alternative.meThe scale runs from zero to 100. Readings above 50 count as Greed. Scores near 25 signal Extreme Fear. Thursday’s print is the highest level on the index’s 30-day chart. Weekly investor surveys and Bitcoin dominance make up the smaller inputs.
Short sellers accelerated the climb. Roughly $1.23 billion in bearish positions unwound during the surprise crypto market rally, which forced traders to buy back exposure at higher prices.
Social media activity and Google search interest, which together account for a quarter of the score, typically spike after moves like this. Therefore, the reading may keep rising before it cools.
Fear and Greed Index over time chart, Source: alternative.meWhy This Sentiment Flip Still Deserves CautionContext matters here. The index printed 29 last week and 25 a month ago, deep inside Extreme Fear. Traders spent nearly all of July and early August below 35.
However, liquidity has not recovered at the same pace as the mood. Stablecoin balances held on exchanges have dropped about 20%, according to exchange stablecoin reserve data. Less idle cash therefore sits ready to absorb the next round of selling.
Contrarians read extremes in both directions. In late June, Fundstrat head of research Tom Lee argued that crypto sentiment had sunk below post-FTX levels. Coverage of those peak market fear signals looks early rather than wrong today.
Other traders watch market structure instead of mood. Bitcoin dominance has tested support since July, a setup that keeps the altcoin season debate open. In contrast to sentiment gauges, that signal has barely budged.
Leverage cuts both ways. The same short liquidations that lifted prices leave fewer bears to squeeze. A quiet session could drag the volatility and momentum scores straight back down.
One day of Greed confirms nothing on its own. Still, the index rarely travels 16 points without follow-through in one direction or the other. The next few readings will show whether buyers stay committed or whether fear returns just as quickly.
BTC Digital Ltd. (NASDAQ:BTCT) and BitMine Immersion Technologies Inc. (NYSE:BMNR) shares are trending on Thursday.
BTCT gained 111.55% to $1.77 after the bell on Wednesday. This was after the stock climbed 79.97% to $0.84 in the regular session, according to Benzinga Pro data.
BMNR surged 6.47% to $21.55 extended trading session. The jump in the late trading session followed an intraday gain of 10.72%, where the stock closed at $20.24.
Trading Volume Surges Both cryptocurrency infrastructure companies saw elevated trading activity on Wednesday.
BTC Digital’s volume spiked to 147.56 million shares versus an average daily volume of 230,900 shares, representing approximately 639 times the stock’s average trading volume.
Bitmine’s volume hit 75.67 million shares versus an average daily volume of 31.59 million shares, representing approximately 2.4 times the stock’s average trading volume.
Sector-Wide Rally Sets The StageOn Wednesday, Bitcoin (CRYPTO: BTC) traded at $69,334.78, up 7.84%, with a market cap of $1.4 trillion and 24-hour volume of $51.7 billion. Ethereum (CRYPTO: ETH) traded at $2,255.12, up 18.11%, with a market cap of $272.1 billion and 24-hour volume of $33.3 billion.
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The stock move comes as optimism over a potential September passage of the CLARITY Act and a record single-day short liquidation of $2.74 billion fueled gains across crypto-linked equities.
World’s largest corporate Bitcoin treasury holder Strategy Inc. (NASDAQ:MSTR) was also up 12.68% on Wednesday. In the after-hours session, it soared 3.73%.
The stock move also comes as President Donald Trump urged Congress to pass the CLARITY Act at a White House crypto summit Wednesday, while Senate Banking Chairman Tim Scott said the bill has a “really good shot” of advancing.
Earlier this week, BitMine disclosed that its crypto, cash and moonshot holdings totaled $11.4 billion, including 5,815,164 ETH.
Trading MetricsMetricBitMineBTCTMarket Cap$12.21Billion$13.24 Million52-Week Range$12.80–$65.60$0.43–$3.12YTD Performance-35.11%-48.67%Benzinga’s Edge Stock Rankings indicate that BTCT stock has a negative price trend across all time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Bitcoin, Ethereum, and XRP rallied after Trump's crypto meeting, but the CLARITY Act still faces political disagreements in the Senate.
President Donald Trump met with executives from Coinbase, Ripple, Gemini, and other major crypto companies at the White House on Wednesday as the administration sought to take a stronger position in the digital asset industry.
The discussion focused heavily on the Digital Asset Market Clarity Act, Bitcoin, and the push to bring more crypto activity into the US.
CLARITY, Bitcoin and Hyperliquid Trump called on Congress to pass “a fair version” of CLARITY and said the legislation would help keep the US “ahead of China.” The bill passed the House of Representatives in July 2025 but has remained stalled in the Senate over issues including tokenized equities, stablecoin rewards, and concerns about potential conflicts involving the Trump family and the crypto industry.
Coinbase CEO Brian Armstrong said the legislation would make the country’s crypto policy “durable into the future, so it could survive for decades and decades to come.” The exec expects the bill to get “more than 60 votes” when the Senate takes up a cloture motion on September 15. Trump backed Armstrong’s assessment of the bill’s support and said,
“It’s very bipartisan, I would say. Lot of Democrats support.”
During the meeting, Trump also said the US has discussed plans to buy “sizable” amounts of Bitcoin and other cryptocurrencies. He later said,
“We’re going to ensure America remains the undisputed leader, not only in Bitcoin and crypto, but also in technologies like prediction markets and artificial intelligence.”
Hyperliquid was another topic raised during the meeting. Trump said Commodity Futures Trading Commission Chair Michael Selig is working to bring the perpetuals-focused trading platform into the US in a “fully compliant and legal fashion.” HYPE jumped more than 20% following the remarks and climbed to $71.
Markets Cheer, But Hurdles Remain Crypto markets reacted strongly after the White House meeting and the latest signals on regulation. Bitcoin gained 7% and tapped $70,000, while Ethereum posted a bigger jump of nearly 18% and reached $2,327. XRP also moved higher as it climbed to $1.14.
You may also like: This Bitcoin Cycle Pattern Could Set Up a 1,000% Rally: Analyst HYPE Skyrockets Past $70 as Trump Reveals CFTC Push for Hyperliquid’s US Entry Over $1B in Liquidations as Bitcoin Surges to 2-Month High Above $69K But the bigger question for the industry is still in Washington. Trump can urge lawmakers to move ahead, but the CLARITY Act must still clear political hurdles in the Senate. Democratic Senator Ruben Gallego, for instance, warned lawmakers to slow down rather than rush toward a Senate vote. Speaking at the SALT Wyoming Blockchain Symposium on Wednesday, Gallego said Democrats and Republicans still need to work through disagreements over ethics and stablecoin yield.
“Don’t go for a fast vote. A fast vote gets you a fast result, but I’m not sure it’s the result you want.”
It is important to note that Senate Democrats have pushed for language that would prevent public officials, including the president, from selling digital currencies. But Gallego said that repeated efforts to reach the White House on the ethics language have made little progress.
TLDR A mysterious wallet purchased 5,000 ETH valued at $9.53 million and immediately staked it shortly before a major White House cryptocurrency summit President Trump hosted the August 19 gathering featuring crypto industry executives and top financial regulators from the SEC and CFTC Major players including Coinbase, Ripple, Chainlink, a16z, and Kalshi sent representatives to the session The same wallet now holds a combined 10,657 ETH valued above $20 million While the timing appears suspicious, no concrete evidence of insider activity has been demonstrated, though similar patterns emerged across 2026 A previously unidentified cryptocurrency wallet acquired 5,000 Ethereum tokens valued at roughly $9.53 million and promptly staked the complete holding mere hours ahead of a high-profile White House conference between President Donald Trump and prominent cryptocurrency sector executives.
Blockchain surveillance firm Lookonchain identified the transaction on August 17. While the wallet’s public address is visible, the purchaser’s true identity stays concealed—a typical characteristic of cryptocurrency transactions.
The White House convened the gathering on August 19 at 2:30 PM Eastern Time. Both President Trump and Commodity Futures Trading Commission Chairman Mike Selig were expected to deliver statements during the event, as reported by Semafor.
Senior leadership from Coinbase, Ripple, Chainlink, and investment powerhouse a16z participated in the discussions. Representatives from forecasting platform Kalshi and its financial backer Paradigm also joined the White House conference.
The gathering represents part of the administration’s broader initiative to position America as the global frontrunner in cryptocurrency regulation. The simultaneous presence of both SEC and CFTC leadership alongside industry executives suggests substantive conversations regarding concrete regulatory structures, potentially addressing digital asset classification, staking protocols, or trading platform licensing requirements.
A Recurring Pattern of Strategic Positioning This isn’t an isolated incident of substantial crypto acquisitions emerging before Trump administration events. Comparable transactions have materialized prior to official policy announcements throughout 2026, although no definitive connection to insider knowledge has been verified in these instances.
What distinguishes this particular transaction is the purchaser’s choice to stake the ETH instantly instead of maintaining liquidity for rapid profit-taking. Staking requires committing tokens to the Ethereum blockchain protocol to generate rewards. This strategy indicates the investor anticipates extended time horizons and believes meeting results will benefit Ethereum’s fundamental value proposition.
Data from Lookonchain reveals the identical trader has accumulated 10,657 ETH with a combined value exceeding $20 million.
Price Effects and Regulatory Implications Ethereum traded near $1,931.60 as of this writing, reflecting a 1.8% gain over the preceding 24-hour period. As the second-largest digital currency by market value, Ether commands approximately $232.82 billion in total capitalization.
The $9.53 million acquisition lacks sufficient volume to independently influence Ethereum’s valuation. Nevertheless, since blockchain transactions are publicly observable and monitored continuously by analytics platforms, substantial wallet activity can function as perceptible indicators to other traders.
The more complex issue concerns whether this trader possessed privileged information regarding the meeting’s anticipated results. Cryptocurrency markets currently occupy ambiguous territory regarding insider trading prosecution. Conventional securities regulations apply inconsistently to blockchain-based assets.
Establishing that an individual executed trades based on confidential government information represents a legal obstacle that authorities have infrequently tackled within the cryptocurrency domain.
This meeting occurred as the Clarity Act, significant proposed cryptocurrency legislation, stalled without progression this legislative session.
According to monitoring by Farside Investors, Bitcoin ETFs recorded a net inflow of $454.8 million yesterday, while Ethereum ETFs saw a net inflow of $186.8 million.
Relevant content
Whale "First Set 10 Big Goals" has liquidated $222 million worth of Bitcoin (BTC) and Ethereum (ETH) short positions, incurring a loss of $6.283 million.
According to on-chain analyst Ai Yi (@ai_9684xtpa), the trading account "10 Big Goals First" has fully closed all its short positions in BTC and ETH worth $222 million via stop-loss orders, taking a loss of $6.283 million. The account made $13.04 million from long positions yesterday, but today's short trades erased $6.28 million of those gains, resulting in a net profit of $6.76 million for this round of long-short trading.
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Yilihua: Bitcoin’s strong rebound breaking through $68,000 may signal the end of the crypto bear market cycle.
Liquid Capital (formerly LD Capital) founder Yili Hua wrote in an article that he had repeatedly emphasized earlier that July to August could be the final bottom-hunting window. Based on Bitcoin’s historical decline patterns, after the end of the previous rally and the third stage of decline, BTC has rebounded strongly to break through the $68,000 mark, which may signal the end of the crypto market’s bear cycle. Investors should not attempt to catch the exact bottom at a specific price point, nor should they try to short in the bottom range. He noted that the two most noteworthy things moving forward are: how to operate in the new bull cycle to maximize returns, and seizing development opportunities in the AI sector at other times.
5 minutes ago
The whale codenamed "Set 10 Big Goals First" has liquidated BTC and ETH short positions worth $222 million, incurring a loss of $6.283 million.
According to on-chain analyst Ai Yi (handle @ai_9684xtpa), the trading account "First Set 10 Big Goals" has fully closed all its BTC and ETH short positions worth $222 million via stop-loss, incurring a loss of $6.283 million. Long positions opened yesterday generated a profit of $13.04 million, while today’s short positions gave back $6.28 million in profits, resulting in a net profit of $6.76 million for this round of long-short trades.
5 minutes ago
Bitcoin surges past $72,000, notching an 11.8% 24-hour gain.
According to HTX market data, Bitcoin has broken through the $72,000 mark, with a 11.8% increase in the past 24 hours.
5 minutes ago
In just the past 30 minutes, two wallets were liquidated for a total of $45.77M. 0x50b3 had 281 $BTC ($20.12M) liquid...
In just the past 30 minutes, two wallets were liquidated for a total of $45.77M. 0x50b3 had 281 $BTC ($20.12M) liquidated. 0x66f8 had 240 $BTC ($17.15M) and 3,738 $ETH ($8.5M) liquidated.
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US media: The US side believes Iran-UAE talks broke down weeks ago.
According to U.S. financial media outlet Semafor, U.S. President Donald Trump’s latest move to avoid escalating military actions against Iran comes as Washington views talks between Iran and Oman—previously seen as a rare, productive negotiation channel—as deadlocked. A U.S. official and a White House official stated that the U.S. government believes the Iran-Oman talks collapsed several weeks ago. The talks had raised the possibility of a toll agreement for the Strait of Hormuz, a development that frustrated Trump. The Omani Embassy did not respond to the U.S.’s assessment of its negotiations. However, Trump still describes the situation with Iran as “very good” and remains optimistic that economic pressure can force Tehran to return to the negotiating table, even though he has halted future talks for the foreseeable future. Last night, Trump posted on social media threatening to launch an “economic war” against Iran, saying the U.S. will impose sanctions on any country that does business with Tehran. (Jin10)
As Bitcoin surges past $71,000, the $220 million worth of BTC and ETH held by the entity "Set 10 Big Goals First" has posted an unrealized loss of over $4.2 million. Specifically for Bitcoin: the entity holds 4x leveraged short positions totaling 2,236.384 BTC, with an entry price of $69,826.87, translating to an unrealized loss of roughly $3.52 million. For Ethereum (ETH): it holds 6x leveraged short positions totaling 29,316.677 ETH, with an entry price of $2,254.74, resulting in an unrealized loss of approximately $750,000.
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Whale "First Set 10 Big Goals" has liquidated $222 million worth of Bitcoin (BTC) and Ethereum (ETH) short positions, incurring a loss of $6.283 million.
According to on-chain analyst Ai Yi (@ai_9684xtpa), the trading account "10 Big Goals First" has fully closed all its short positions in BTC and ETH worth $222 million via stop-loss orders, taking a loss of $6.283 million. The account made $13.04 million from long positions yesterday, but today's short trades erased $6.28 million of those gains, resulting in a net profit of $6.76 million for this round of long-short trading.
5 minutes ago
Yilihua: Bitcoin’s strong rebound breaking through $68,000 may signal the end of the crypto bear market cycle.
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The whale codenamed "Set 10 Big Goals First" has liquidated BTC and ETH short positions worth $222 million, incurring a loss of $6.283 million.
According to on-chain analyst Ai Yi (handle @ai_9684xtpa), the trading account "First Set 10 Big Goals" has fully closed all its BTC and ETH short positions worth $222 million via stop-loss, incurring a loss of $6.283 million. Long positions opened yesterday generated a profit of $13.04 million, while today’s short positions gave back $6.28 million in profits, resulting in a net profit of $6.76 million for this round of long-short trades.
5 minutes ago
Bitcoin surges past $72,000, notching an 11.8% 24-hour gain.
According to HTX market data, Bitcoin has broken through the $72,000 mark, with a 11.8% increase in the past 24 hours.
5 minutes ago
In just the past 30 minutes, two wallets were liquidated for a total of $45.77M. 0x50b3 had 281 $BTC ($20.12M) liquid...
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US media: The US side believes Iran-UAE talks broke down weeks ago.
According to U.S. financial media outlet Semafor, U.S. President Donald Trump’s latest move to avoid escalating military actions against Iran comes as Washington views talks between Iran and Oman—previously seen as a rare, productive negotiation channel—as deadlocked. A U.S. official and a White House official stated that the U.S. government believes the Iran-Oman talks collapsed several weeks ago. The talks had raised the possibility of a toll agreement for the Strait of Hormuz, a development that frustrated Trump. The Omani Embassy did not respond to the U.S.’s assessment of its negotiations. However, Trump still describes the situation with Iran as “very good” and remains optimistic that economic pressure can force Tehran to return to the negotiating table, even though he has halted future talks for the foreseeable future. Last night, Trump posted on social media threatening to launch an “economic war” against Iran, saying the U.S. will impose sanctions on any country that does business with Tehran. (Jin10)
Whale codenamed "First Set 10 Big Goals" has once again cut losses by significantly reducing its short positions in Bitcoin (BTC) and Ethereum (ETH). The cumulative reduction amounts to 1,169.625 BTC and 24,684.515 ETH. The whale currently holds 1,066.759 BTC and 4,632.162 ETH, with the remaining positions still carrying unrealized losses exceeding $1.9 million.
Relevant content
Whale "First Set 10 Big Goals" has liquidated $222 million worth of Bitcoin (BTC) and Ethereum (ETH) short positions, incurring a loss of $6.283 million.
According to on-chain analyst Ai Yi (@ai_9684xtpa), the trading account "10 Big Goals First" has fully closed all its short positions in BTC and ETH worth $222 million via stop-loss orders, taking a loss of $6.283 million. The account made $13.04 million from long positions yesterday, but today's short trades erased $6.28 million of those gains, resulting in a net profit of $6.76 million for this round of long-short trading.
5 minutes ago
Yilihua: Bitcoin’s strong rebound breaking through $68,000 may signal the end of the crypto bear market cycle.
Liquid Capital (formerly LD Capital) founder Yili Hua wrote in an article that he had repeatedly emphasized earlier that July to August could be the final bottom-hunting window. Based on Bitcoin’s historical decline patterns, after the end of the previous rally and the third stage of decline, BTC has rebounded strongly to break through the $68,000 mark, which may signal the end of the crypto market’s bear cycle. Investors should not attempt to catch the exact bottom at a specific price point, nor should they try to short in the bottom range. He noted that the two most noteworthy things moving forward are: how to operate in the new bull cycle to maximize returns, and seizing development opportunities in the AI sector at other times.
5 minutes ago
The whale codenamed "Set 10 Big Goals First" has liquidated BTC and ETH short positions worth $222 million, incurring a loss of $6.283 million.
According to on-chain analyst Ai Yi (handle @ai_9684xtpa), the trading account "First Set 10 Big Goals" has fully closed all its BTC and ETH short positions worth $222 million via stop-loss, incurring a loss of $6.283 million. Long positions opened yesterday generated a profit of $13.04 million, while today’s short positions gave back $6.28 million in profits, resulting in a net profit of $6.76 million for this round of long-short trades.
5 minutes ago
Bitcoin surges past $72,000, notching an 11.8% 24-hour gain.
According to HTX market data, Bitcoin has broken through the $72,000 mark, with a 11.8% increase in the past 24 hours.
5 minutes ago
In just the past 30 minutes, two wallets were liquidated for a total of $45.77M. 0x50b3 had 281 $BTC ($20.12M) liquid...
In just the past 30 minutes, two wallets were liquidated for a total of $45.77M. 0x50b3 had 281 $BTC ($20.12M) liquidated. 0x66f8 had 240 $BTC ($17.15M) and 3,738 $ETH ($8.5M) liquidated.
5 minutes ago
US media: The US side believes Iran-UAE talks broke down weeks ago.
According to U.S. financial media outlet Semafor, U.S. President Donald Trump’s latest move to avoid escalating military actions against Iran comes as Washington views talks between Iran and Oman—previously seen as a rare, productive negotiation channel—as deadlocked. A U.S. official and a White House official stated that the U.S. government believes the Iran-Oman talks collapsed several weeks ago. The talks had raised the possibility of a toll agreement for the Strait of Hormuz, a development that frustrated Trump. The Omani Embassy did not respond to the U.S.’s assessment of its negotiations. However, Trump still describes the situation with Iran as “very good” and remains optimistic that economic pressure can force Tehran to return to the negotiating table, even though he has halted future talks for the foreseeable future. Last night, Trump posted on social media threatening to launch an “economic war” against Iran, saying the U.S. will impose sanctions on any country that does business with Tehran. (Jin10)
Leading cryptocurrencies jumped to their multi-month highs on Wednesday as investors parsed CLARITY Act optimism and other macro developments.
Crypto Market ExplodesBitcoin surged nearly 8% to touch $70,000, reaching its highest level since early June. Trading volume erupted 161% over the last 24 hours, indicating high buying pressure.
Ethereum soared to levels not seen since May 12, while trading volume exploded by 346%. XRP and Dogecoin also recorded sharp spikes.
Cryptocurrency-related stocks also soared, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing up 12.68% and 10.72%, respectively.
Growing optimism around a September passage of the CLARITY Act lifted the market and cryptocurrency-adjacent equities
Nearly $3 billion was liquidated from the cryptocurrency market in the last 24 hours, with $2.74 billion in bearish short positions alone wiped out, according to Coinglass data. It was the largest single-day short liquidation event in Bitcoin’s history.
Bitcoin’s open interest jumped 5.41% over the last 24 hours. That said, sentiment among BTC’s retail and whale derivatives traders flipped from “Bullish” to “Neutral.”
"Greed" sentiment took over the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization surged 7.54% over the last 24 hours to $2.37 trillion.
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Stocks Snap Losing RunStocks rebounded sharply on Wednesday. The Dow Jones Industrial Average rallied 119.65 points, or 0.22%, to close at 53,463.05. The S&P 500 climbed 0.21% to end at 7,707.98, while the tech-focused Nasdaq Composite lifted 0.16% to settle at 26,331.09.
The Treasury said it will increase liquidity support buyback operations for longer-dated bonds from a maximum of $2 billion per operation to at least $4 billion per operation.
‘It’s Just a First Start’Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, said that the cryptocurrency market is waking up massively, with Bitcoin leading gains, Ethereum showing strength and Solana following closely.
“More Altcoins will start to follow through as confidence comes in and liquidity rotates from Bitcoin towards assets that deserve attention,” Van De Poppe projected.
On-chain analytics firm CryptoQuant noted that Bitcoin’s spot and futures demand have both returned to positive territory for the first time in months
CryptoQuant said that through April and May, only futures demand rose while spot demand “stayed underwater.”
“This time spot is participating. That is the difference,” the firm added. “Leverage can move price. It cannot hold it.”
Circle Internet Group Inc. (NYSE:CRCL) shares are trending on Thursday.
Shares of the New York-based fintech company jumped 2.37% to $80.45 after the bell Wednesday.
In the regular session, CRCL climbed 9.56% to $78.59, according to Benzinga Pro data.
The stock move came as a broad rally swept crypto-linked names, fueled by falling Treasury yields and optimism ahead of a White House meeting between President Donald Trump and crypto industry executives.
Treasury Buyback Pulls Yields LowerThe Treasury Department is boosting its bond-buyback program, raising the floor on long-dated purchases to $4 billion starting in September.
That shift pulled the 30-year yield down to about 5.2% and the 10-year to 4.65%.
Bitcoin (CRYPTO: BTC) surged nearly 8% to touch $70,000 on Wednesday, its highest level since early June, as part of the same rally that lifted crypto-linked stocks, including Circle.
Trump-Crypto Meeting Lifts SentimentTrump’s planned White House meeting, following the Securities and Exchange Commission‘s abrupt cancellation of a related session, raised hopes for legislative clarity via the CLARITY Act.
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At the summit, Trump has urged Congress to pass the CLARITY Act, calling it structured legislation that would keep the U.S. ahead of China.
Circle issues USDC (CRYPTO: USDC), one of the largest U.S. dollar-pegged stablecoins, so the company’s performance is closely tied to overall crypto market activity and regulatory sentiment. With its business built on crypto infrastructure, Circle stock is directly benefiting from the renewed industry-wide momentum.
Trading Metrics, Technical AnalysisCircle Internet Group has a market capitalization of $19.95 billion. Its stock has traded between a 52-week high of $159.47 and a 52-week low of $49.90.
CRCL’s Relative Strength Index (RSI) stands at 61.76.
Over the past 12 months, the share price has declined by 42.97%.
The mid-cap stock is currently trading in the lower portion of its 52-week range, at 26.2% of the way between its 52-week low and high.
Benzinga’s Edge Stock Rankings indicate that CRCL is experiencing short-term upward movement along with medium and long-term consolidation.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
PANews reported on August 20, according to CryptoSlate, Nasdaq-listed AIxCrypto Holdings plans to exit its crypto asset holdings in an orderly manner and shift to a robot rental business. As of June 30, the company held 46 Bitcoin, 616 Ethereum, 6,659 Solana, 1,308 BNB, and small amounts of ADA, LINK, TRX, USDT and XRP, with a total cost basis of $10.43 million and a fair value of $5.21 million.
In the first half of the year, the company's operating cash burn was $7.94 million, cumulative losses reached $150.3 million, quarter-end cash was only $577,000, and it made no crypto purchases or sales in the second quarter. The company warned that volatility, market depth, and custody restrictions could cause the actual liquidation value to be significantly lower than book value. Its robot rental business RoboShare has completed one paid order, but did not disclose specific financial details.
The crypto market is rising today with Bitcoin moving sharply higher and Ethereum gaining around 20% in a day. Solana is also performing well. However, many other altcoins have gained only around 5%-7% and some remain near their lows.
U.S. spot Bitcoin ETFs have recorded buying for three straight day. More than 8,000 BTC were reportedly purchased through the ETFs in the latest session, with BlackRock alone buying more than 4,000 BTC. This buying helped push Bitcoin from around $64,000 toward $70,000.
The rally was initially driven by a sharp wave of short liquidations, while new U.S. Treasury measures and fresh political support for the crypto industry added to bullish sentiment.
Top Reasons Why Crypto Market is Surging TodayBitcoin Rally Triggers $1.2 Billion in Short LiquidationsBitcoin rose more than 8% after about $1.2 billion worth of short positions were liquidated within an hour. Short sellers betting on lower prices were forced to close their positions as Bitcoin moved higher, adding further buying pressure. The move helped push Bitcoin to its highest level since June 2 and eventually above $70,000.
The market is now watching trading volume closely. Higher volume has accompanied the rally, although selling pressure remains visible around current levels.
U.S. Treasury Boosts Bond BuybacksAnother major factor behind the move is the U.S. Treasury’s decision to increase its planned purchases of long-term government debt.
The Treasury plans to raise monthly buybacks from $2 billion to at least $4 billion. The purchases are designed to improve liquidity in U.S. government bonds with maturities of 10 to 30 years, as total U.S. debt approaches $40 trillion.
The program begins September 9 and runs through November 4. While it is not the same as the Federal Reserve launching a large-scale money-printing program, the move is expected to provide support to the bond market and ease pressure on long-term yields.
That matters for crypto because easier financial conditions can encourage investors to move into riskier assets such as Bitcoin and other cryptocurrencies.
Trump Signals Continued Support for CryptoThe rally also comes as President Donald Trump met with major crypto executives at a White House summit.
Trump was asked whether his administration plans to build sizable Bitcoin or other crypto holdings. He said the idea has been discussed and that he would consider recommendations from his advisers.
However, the comments do not represent a confirmed plan for the U.S. government to buy large amounts of Bitcoin.
Trump and Coinbase CEO Brian Armstrong also called for Congress to pass the Clarity Act. Armstrong said a key vote is expected on September 15 and argued that the legislation would make recent crypto policy changes more permanent.
Hyperliquid and Injective Add to Altcoin StrengthSeveral altcoins are also gaining on their own developments.
Hyperliquid’s HYPE token jumped about 11% after Trump said the administration is working to bring Hyperliquid into the U.S. in a legal and compliant way.
Injective also received SEC registration for its transfer-agent services through an affiliated entity. The registration allows the entity to maintain securities ownership records and supports Injective’s wider push into tokenized assets.
Tokenization was another major theme at the summit. Chainlink co-founder Sergey Nazarov said stablecoin use and the tokenization of U.S. assets are expanding, while Robinhood CEO Vlad Tenev said tokenized stocks could become a major part of the future financial system.
Robinhood’s blockchain already offers tokenized exposure to U.S. stocks, with the number of available stock tokens increasing from 90 to 190. These assets can trade around the clock and are available to users in more than 120 countries.
What Comes Next for Crypto Prices?Bitcoin’s move above $70,000 is a positive development, but it does not guarantee that the market has entered a sustained bull run. The key levels are now $73,000-$75,000, followed by $80,000-$82,000. Ethereum needs to clear $2,400-$2,500 to strengthen its recovery.
Traders will also watch Bitcoin ETF flows, spot-market volume, miner selling, inflation data and the Federal Reserve’s September decision.
After a sharp move, a 2%-5% correction would not be unusual, while larger gains in Bitcoin and Ethereum could also attract profit-taking.
Story Ends Here
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Bitcoin approached a critical price juncture on Tuesday as its value neared $65,000, sitting almost equidistant between the $70,000 resistance and $60,000 support levels. This positioning places the largest cryptocurrency by market capitalization at a potentially decisive threshold, where traders are watching for signals of the next major move.
Bitcoin faces resistance at $66,300 as buyers regain momentumAfter rebounding from the lower boundary of its July-August consolidation range, Bitcoin was trading at approximately $64,843. This recent recovery pushed BTC above its short-term moving averages, now near $63,900. Market watchers noted that this upward movement restored short-term buyer momentum amid an otherwise cautious trend.
The Relative Strength Index (RSI) climbed to 56.6, comfortably above the neutral 50 mark, suggesting that momentum favors continued gains without immediate signs of exhaustion. However, price action has faced resistance around $66,300—an intermediate moving average level that has gradually declined over recent months.
Bitcoin has consistently failed to breach the $66,000–$67,000 range since June. Should this barrier give way, traders see the psychological $70,000 level as a plausible target, with limited known resistance between $66,300 and the long-term moving average at $71,450.
Key LevelCurrent StatusSupport$63,800Resistance$66,300Major Resistance$71,450Upper Target$70,000If BTC reverses below $63,800, the market could revisit its recent range, making $62,000 the next crucial level, with $60,000 potentially tested quickly amid higher selling volume.
Bitcoin buyers have regained momentum in the short term, but significant resistance at $66,300 remains and must be cleared for a push toward $70,000.
XRP buyers fight to hold $1 support amid technical weaknessXRP, the cryptocurrency closely tied to payments company Ripple, continued to battle for control above the $1 threshold after weeks of selling pressure drove its price near this psychologically significant mark. On Tuesday, XRP traded at $1.018, having dipped below $1 earlier before buyers initiated a modest rebound.
This recovery brought XRP’s RSI up to 43, rising from near-oversold conditions, and pulled the price back above the round-number support. However, all major moving averages remain above the current price, reinforcing the negative outlook for now. Immediate resistance stands at $1.038, with another moving average found near $1.074. A stronger recovery would require reclaiming the $1.07–$1.10 range.
Long-term technical challenges persist. The key long-term moving average is at $1.342, and the intermediate average sits around $1.153—both still trending downward, reflecting XRP’s losses in recent years. For now, holding $1 on a daily closing basis is critical; a sustained close below could expose the asset to further downside toward $0.95 and $0.90.
XRP buyers are defending the $1 mark, but a break below this level on a closing basis could open the door to steeper losses.
Shiba Inu’s exchange flows and price action slowThe Shiba Inu network has seen a notable decrease in large-scale exchange flows, with multibillion-token transfers no longer dominating its metrics. As SHIB lingers near $0.0000045, its inability to establish a lasting recovery has been accompanied by a quieter flow environment.
The seven-day average of exchange inflows stands at 859.8 million SHIB, below the 1 billion mark, while outflows in the past 24 hours have fallen by 6.1 percent, reaching just 467.1 million SHIB. This calmer activity represents a stark contrast to earlier periods characterized by frequent billion-token movements.
Despite the lighter flows, inflows still outpace outflows, resulting in a positive netflow of 112.13 billion SHIB. Exchange reserves also rose slightly by 0.13 percent to an estimated 87.38 trillion SHIB, indicating that available supply on exchanges is not diminishing even as trading activity moderates.
SHIB traded near its short-term moving averages at $0.00000448–$0.00000455, closing at $0.00000447. The RSI remained neutral to weak at 46. The next key resistance is located at $0.00000488, with a long-term barrier identified at $0.00000575. A push above these levels would be needed for any meaningful recovery.
Mini dictionary: Shiba Inu (SHIB) is an Ethereum-based memecoin known for its extremely small unit prices and large total supply, attracting speculative interest but also showing highly volatile trading patterns.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
TLDR: Exchange stablecoin liquidity fell from $80B to $64B as the 2026 bear market drained capital. Binance’s reserve share rose from ~60% to 68.5% even as its own balances declined. Binance saw $1.75B in monthly outflows; OKX and Bybit also posted sizable declines. Bitcoin fell 48% since October while the S&P 500 and Nasdaq posted double-digit gains. Stablecoin liquidity across centralized exchanges has contracted sharply through 2026, falling from roughly $80 billion at its late-2025 peak to around $64 billion today.
he decline reflects a deepening crypto bear market and a shrinking stablecoin market capitalization, both of which have squeezed available trading capital.
While the drop has hit most trading venues, Binance has weathered the pullback better than its competitors, expanding its share of total exchange reserves even as overall stablecoin liquidity keeps shrinking.
Binance Gains Ground While Rivals Lose Reserves Faster Data from CryptoQuant shows Binance’s share of exchange-held stablecoins has climbed from close to 60% in late 2025 to about 68.5% now. That growth has come not from rising deposits but from a slower rate of decline compared with other platforms.
Stablecoin liquidity on exchanges just fell from $80B to $64B
But Binance is winning the shrinkage: its share climbed from ~60% to 68.5% while everyone else bled harder.
The bear market isn't just draining liquidity, it's concentrating what's left. pic.twitter.com/dawEtT4FVf
— CryptoQuant.com (@cryptoquant_com) August 19, 2026
Coinbase, Bybit, OKX and smaller exchanges have all seen steeper drawdowns in their stablecoin balances over the same period.
As those venues lose reserves faster, the remaining stablecoin liquidity naturally concentrates around the largest platform.
CryptoQuant’s research team described the pattern as a shrinking pool of trading capital that is simultaneously becoming more centralized.
Binance’s own reserves are still falling in absolute terms, yet its relative position keeps strengthening against weaker rivals.
This concentration trend matters for traders assessing exchange-level liquidity risk. A market where one venue holds close to 70% of available stablecoin reserves behaves differently than one with balanced distribution across several platforms.
Nearly A Year Of Outflows Points To Persistent Caution Separate tracking from analyst Darkfost shows exchange stablecoin reserves have declined almost continuously since October, with monthly outflows following a consistent pattern. Binance alone recorded close to $1.75 billion in net stablecoin outflows over the past 30 days.
🗞️ Exchange stablecoin reserves shrinks near a year straight as BTC falls 48%
Since October, incoming liquidity on exchanges has melted like snow in the sun.
This liquidity is represented here by stablecoin flows in and out of exchanges, averaged over a month.
Since October,… pic.twitter.com/Mn29TBE134
— Darkfost (@Darkfost_Coc) August 18, 2026
OKX saw outflows of roughly $605 million during the same window, while Bybit recorded a decline near $321 million. Other exchanges combined lost an average of about $311 million over the past month.
Binance continues to hold the largest share of total stablecoin supply parked on exchanges, at close to 70%, according to the same tracking.
That scale means shifts in Binance’s reserves carry outsized weight for overall exchange-level stablecoin liquidity readings.
The outflow trend lines up with weak price action in the broader market. Bitcoin has fallen around 48% since October, a sharp contrast with gains of about 18% for the S&P 500 and 23% for the Nasdaq over the same stretch.
Traditional equities have advanced while crypto assets have struggled, and the steady exit of stablecoin liquidity from exchanges suggests traders remain reluctant to redeploy capital into digital assets for now.
The gap between crypto and traditional market performance continues to widen as this liquidity trend persists.
Arthur Hayes published a follow-up essay on his FLOP token launch. He frames the project as a biblical creation story instead of a standard whitepaper.
The essay adds new technical details about FLOP’s design. However, it leaves several gaps from prior reporting unresolved.
The Genesis FramingIn the essay titled “The Book of Genesis,” sent to his Substack subscribers, Hayes casts God as a jealous figure. Humanity’s creation of artificial intelligence (AI) pushes him aside. Hayes writes himself in as the curious human who solves AI’s economic problem.
"The Book of Genesis" traces the origin myth of @flop_labs
"And on the 2^8th day, God created Alan Turing, who one day later created the computer. The computer’s usefulness advanced as other humans made it faster and smarter. Some weeks later, the computer began thinking, as… pic.twitter.com/VvDTW2OgpI
— Arthur Hayes (@CryptoHayes) August 19, 2026 The essay says AI agents need two things to gain independence from centralized providers. It calls these food, meaning compute agents pay for in FLOP, and memory, meaning decentralized storage for agent data.
Hayes leans on Reed’s Law, a networking theory, to argue the Flop Network could eventually surpass Bitcoin (BTC) in value. He ties that outcome to industry predictions about AI agent adoption. Meanwhile, no published model or third-party analysis backs the claim.
New Details, Old GapsThe essay names the project’s mining mechanism as proof of useful inference (PoUI). Miners earn block rewards and inference fees for processing AI requests. Validators check the completed work.
Hayes also confirms he self-funded the Flop Labs team to avoid a presale. The essay adds that testnet participants are due roughly 20% of FLOP’s total supply after a 10-year period. That figure is separate from the airdrop Hayes announced for the fourth quarter of 2026.
None of this resolves the gaps BeInCrypto flagged in its earlier FLOP report. Flop Labs still has not published a whitepaper, supply schedule, audit, or named blockchain.
Flop Labs still plans the airdrop for the fourth quarter of 2026. That is a full quarter before the network’s genesis block arrives in the first quarter of 2027.
Hayes has said a follow-up essay will address a spot market for compute pricing. Until then, the AI agent payment narrative behind Flop Network outpaces its paperwork.
The analyst argues that each cycle has produced a smaller drawdown before pushing Bitcoin to a higher peak.
Analyst Crypto Patel says Bitcoin has followed the exact same cycle three times in a row, and he is betting the current downturn sets up another run worth ten times the cryptocurrency’s price from here.
The call, posted Wednesday, arrives as Bitcoin sits at around $65,000, down almost half from its October 2025 all-time high, with trading activity thinning to levels not seen since the last bear market.
The Pattern, According to Patel Crypto Patel posted his analysis on X, describing what he calls the “BTC Cycle Blueprint.” His comparison begins with Bitcoin’s first major cycle, when it reached $19,666 before falling 84% and later rallying to $69,000.
The second cycle followed a similar sequence. Bitcoin fell 77% from its $69,000 peak before finding support around a bullish order block and fair value gap. It then climbed to a record $126,000.
Patel believes the current cycle is following the same structure. Bitcoin went past $126,000 before entering a decline that he estimates at 69%, with the expectation that the market will form another bullish order block around $50,000 to $40,000.
“Each Cycle: Smaller Drawdown. Higher High. Same Playbook,” the analyst wrote, adding that Bitcoin is currently sitting near the area he believes will become that bullish order block. He then assigned a projected target of 1,000% upside.
Patel’s argument rests heavily on repetition. According to him, the pattern has “NEVER Failed,” although the post does not provide a statistical test of the pattern or explain how the 1,000% target is calculated. The forecast therefore remains a technical thesis rather than a confirmed market path.
You may also like: Over $1B in Liquidations as Bitcoin Surges to 2-Month High Above $69K Tech Futures Drop on Rising Treasury Yields While Bitcoin Holds Near $64K Wintermute: Bitcoin Range Breakout Delayed by ETF Outflows and Miner Selling The OG cryptocurrency has traded in a tight band this week, moving between roughly $62,500 and $65,000 over the past seven days, and Ted Pillows noted earlier today that BTC needs to hold $65,500 or risk another leg down to $62,500.
Others are also watching for another Bitcoin decline, although their targets differ. One of them, Tony Research, said that traders should not short Bitcoin at current levels. They expect a move toward $68,500 to $69,400 and then $72,000 before a possible final drop in late August or September. They also expect selected altcoins to gain 40% to 100% if Bitcoin reaches the higher targets.
Where the Bigger Picture Stands But not everyone agrees the four-year cycle Patel is describing still applies, with market watchers, including Scott Melker and Arthur Hayes, previously questioning whether the pattern holds this time around.
Bitcoin has not closed above $100,000 since November 13, 2025, and SkyBridge Capital’s Anthony Scaramucci told CNBC this week that the next halving, expected around April 2028, should “tighten prices” enough to push the asset back over that mark. Scaramucci made a similar call before the 2024 halving, predicting BTC would reach $170,000, but it peaked at just over $126,000 instead.
Standard Chartered analyst Geoff Kendrick predicted that Bitcoin could rise to $100,000 by the end of 2026. According to Kendrick, the most important technical level to watch in the short term for Bitcoin is $65,500.
Kendrick stated that Bitcoin rising above the $65,500 level is a significant signal that the bottom of the current market cycle has been passed.
Kendrick stated, “Investors should now position themselves according to the scenario that Bitcoin will reach $100,000 by the end of 2026.”
Kendrick, who based his optimistic outlook for Bitcoin not solely on the four-year cycle dynamics in the cryptocurrency market, also drew attention to the US Treasury Department’s recent liquidity measures for the bond market.
The US Treasury Department announced it will at least double the maximum size of liquidity-backed repurchase operations for certain long-term Treasury bonds. Accordingly, the maximum size of a single repurchase operation for 10-20 year and 20-30 year Treasury bonds with a nominal value will be increased from $2 billion to at least $4 billion.
The expansion is scheduled to take place between September 9 and November 4.
“A Development That Bitcoin Loves” Following the announcement, yields on long-term US Treasury bonds fell significantly. This move helped ease some of the pressure that recent bond market sell-offs had put on global financial markets.
Kendrick viewed the US Treasury Department’s move positively for Bitcoin. The analyst described the step as “exactly the kind of development Bitcoin loves,” recalling that Bitcoin has benefited positively from past instances where public authorities provided liquidity to the markets.
*This is not investment advice.
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Bitcoin (BTC) surged sharply after the US Treasury Department expanded liquidity support for the long-term bond market, triggering one of the largest short liquidations since October 2020.
Michael Nadeau, founder of The DeFi Report, pointed out the timing of Bitcoin’s recent surge, noting that it came shortly after the US Treasury announced it would expand its long-term bond buyback operations starting in September.
According to Nadeau, this move can be considered the second “QE lite”—a limited quantitative easing—that the US Treasury has implemented in the last few weeks to ease pressure on long-term Treasury bonds.
The analyst stated that gold was the first asset to react to the macroeconomic change, followed by Bitcoin. However, Nadeau added that a significant portion of the movement in BTC stemmed from the liquidation of short positions and shifts in market positioning, rather than new and sustained spot demand.
With Bitcoin rising to the $68,000-$69,000 range, several technically significant levels have come back into focus. Nadeau noted that $68,500 represents the cost basis for short-term Bitcoin investors, $68,800 corresponds to the 21-week moving average, and $69,100 to the 200-day moving average.
Therefore, Bitcoin’s current price movement is considered critical in determining whether the uptrend will continue.
Nadeau said he considered the recent rise noteworthy due to the U.S. Treasury’s expansion of bond buybacks and steps to ease pressure on long-term interest rates, but noted that the move was largely supported by liquidations at this stage.
According to the analyst, the key question now will be whether sustained buying demand will emerge in the market that can keep the uptrend going. If Bitcoin breaks through the critical resistance levels between $68,500 and $69,100 and turns them into support, it could pave the way for a new bull run for BTC.
*This is not investment advice.
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
The cryptocurrency market experienced a strong upward movement after a long period of calm. According to data, Bitcoin (BTC) briefly rose above $69,000, gaining approximately 5.7% in the last 24 hours. Ethereum (ETH) also climbed above $2,100, rising nearly 8.8%. The total value of the cryptocurrency market also increased by 4.7%, reaching approximately $2.4 trillion.
With the rapid market recovery, the view among investors and analysts that the bear market in Bitcoin may be nearing its end has begun to gain strength again.
Trader Killa, known for accurately predicting Bitcoin’s downward trajectory in the current bear market, stated that BTC has begun to recover from its lows, adding that investors might miss the next rally while waiting for the “perfect bottom.”
According to Killa, Bitcoin’s long-term target is still above $150,000. The renowned trader also believes that the traditional four-year cycle followed in the Bitcoin market for many years may change in the future.
Critical Level for Bitcoin: $69,500 Killa pointed out that Bitcoin’s 200-day moving average is around $69,500. According to the analyst, if BTC surpasses this level and remains above it, it could be a significant confirmation that the market has entered a bull market again.
The fact that Bitcoin encountered resistance precisely in this region after rising to around $69,500 in the recent upward movement has increased the importance of this technical level.
Statements from institutional sources also support the optimism in the market. Bitwise Chief Investment Officer Matt Hougan said that income-generating on-chain assets are starting to be repriced in the cryptocurrency market.
According to Hougan, some protocols that can generate real income may see an upward revaluation in their market values.
Bitwise Europe also stated in its August report that there are signs of institutional demand beginning to accelerate again. The report cited capital inflows into ETPs, the high supply of Bitcoin held by long-term investors, and the stabilization of demand from companies adding cryptocurrencies to their balance sheets as potential supportive factors for the market.
Bitwise: Hundreds of Billions of Dollars in Potential Capital Matt Hougan, in his assessment on The Rollup podcast, stated that Bitcoin is becoming increasingly “insensitive” to negative news and that the current bear market may be nearing its end.
Hougan also stated that even if only 1-2% of the approximately $20 trillion in assets managed by Morgan Stanley, Wells Fargo, UBS, and Bank of America Merrill Lynch were directed towards cryptocurrencies, it could provide a sustained influx of hundreds of billions of dollars into the sector.
*This is not investment advice.
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
Japanese and South Korean stock indexes opened higher, with South Korea’s KOSPI index rising 3.2% at the open.
According to Bitget market data, the Nikkei 225 index opened 461.11 points higher on Thursday, August 20, with a 0.71% gain to 65,787.53 points. South Korea’s KOSPI index opened 3.2% higher, with SK Hynix surging over 7% and Samsung Electronics climbing more than 3%.
10 minutes ago
Linera claims it aims to become the 'next Hyperliquid' and will promote the LNRA token sale.
New public blockchain Linera, founded by former Libra employees, announced today that it aims to become the "next Hyperliquid" and teased an upcoming LNRA token sale. Linera said it is following Hyperliquid’s playbook: building its own dedicated chain, focusing on consumer products, operating with a small team, generating real revenue first, and prioritizing user rewards. Its core product is a real-time prediction market at app.linera.xyz, which can launch, operate, and settle within one minute. The project uses a parallel microchains architecture, supporting thousands of small markets to run simultaneously, with final confirmation times typically under one second—solving congestion and high fees that plague general-purpose blockchains in real-time use cases. All markets operate on a pure player-versus-player (PvP) model, with no house and no external market makers required. The core team numbers just five members. Users who earn badges by engaging with the product will get priority access to an exclusive subscription pool for the LNRA sale. Detailed sale information will be announced at a later date.
10 minutes ago
US CFTC Seeks Public Comment on AI Computing Power Futures
As industry giants begin to accept compute power as a tradable asset, the U.S. Commodity Futures Trading Commission (CFTC) is seeking public comments on compute power futures contracts. Multiple exchanges, including CME Group (CME), Intercontinental Exchange (ICE), and emerging fintech firm Architect Financial Technologies, have announced plans to launch such contracts once regulatory approval is secured. These exchanges argue that establishing a compute power futures market would help end-users and speculators hedge against risks like energy shortages or other issues that could hinder technological progress for AI developers. CFTC Chair Michael Selig said in a Wednesday statement: "Without a robust compute power derivatives market, the U.S. cannot win the AI race. This public comment period is the first step toward establishing clear rules for the U.S. compute power market." One of the issues covered in the CFTC’s public comment process is how compute power futures differ from other derivatives or underlying commodities already regulated by the agency. If compute power futures are permitted to list on CFTC-regulated exchanges, further standardization of variables affecting compute power prices may be required, including price indices used for settlement reference and other related factors.
10 minutes ago
U.S. stocks: The three major indexes closed higher this morning, Moderna surged 177%, and crypto-related stocks rallied sharply.
According to market data from BIT (Bit.com), U.S. stocks closed on Wednesday: the Dow Jones Industrial Average initially rose 0.22%, the S&P 500 gained 0.21%, and the Nasdaq advanced 0.16%. Moderna (MRNA.O) surged 176.9%, while Merck (MRK.N) climbed 12.6%. Moderna and Merck announced that their jointly developed personalized mRNA cancer vaccine intismeran autogene (formerly mRNA-4157/V940), in combination with Merck’s immunotherapy drug Keytruda (pembrolizumab), met both the primary endpoint and key secondary endpoints in the Phase III clinical trial (INTerpath-001) for patients with high-risk melanoma (skin cancer). Marvell Technology (MRVL.O) rose over 9.8%, SK Hynix (SKHY.O) gained 0.35%, SanDisk (SNDK.O) fell 3.5%, and Micron Technology (MU.O) dropped 0.39%. In terms of crypto-related stocks: Strategy’s share price rose 11.95% to $103.58, having surged more than 13% intraday; Coinbase climbed 9.05% to $159.47; stablecoin issuer Circle increased 9.44% to $78.50; and Ethereum reserve firm BitMine gained 9.68% to $20.05.
10 minutes ago
Key takeaways from Trump’s crypto-friendly remarks: He disclosed that the U.S. government has discussed accumulating a "significant amount" of Bitcoin, vowed to end the "war on crypto" entirely, and urged the prompt passage of the Genius Act.
U.S. President Donald Trump met with executives from crypto and fintech firms including Coinbase, Ripple, Robinhood, Gemini, and Chainlink at the White House’s Roosevelt Room on Wednesday local time, delivering a speech in support of cryptocurrencies. Trump said his administration has “completely ended the war on cryptocurrencies,” noting the industry is thriving, and the U.S. must retain its “undisputed leadership” in areas such as Bitcoin, cryptocurrencies, prediction markets, and artificial intelligence, while committing to becoming the “world’s crypto capital.” He added that the U.S. government has discussed accumulating “significant quantities” of Bitcoin and other cryptocurrencies, claiming crypto assets “have greatly eased pressure on the U.S. dollar.” Meanwhile, he urged Congress to pass a “fair version” of the Clarity Act (Digital Asset Market Clarity Act) promptly, arguing this would keep the U.S. ahead of China and other countries. Trump also noted that the SEC Chair is working to bring Hyperliquid to the U.S. market in a compliant manner, and highlighted policy achievements including the signed Genius Act (stablecoin legislation), strategic Bitcoin reserves, and the ban on central bank digital currencies (CBDCs).
10 minutes ago
Kalshi Seeks CFTC Approval for Copper Perpetual Futures, Prediction Market Platforms Accelerate Expansion Into Derivatives Sector
Prediction market platform Kalshi has submitted an application to the U.S. Commodity Futures Trading Commission (CFTC) to launch copper price-linked perpetual futures contracts. According to an August 18 filing, the proposed COPPERPERP contract will track copper spot prices priced in U.S. dollars per pound, utilizing price data from blockchain data service provider Pyth Network. The contract will be cash-settled with no physical copper delivery involved. Unlike traditional futures, perpetual futures have no expiration date, enabling traders to hold positions long-term without rolling over, and maintain price alignment with the spot market via a periodic funding rate mechanism between long and short parties. This application signals Kalshi’s further expansion beyond the bounds of traditional event prediction markets into the commodities and financial derivatives space. Earlier this May, Kalshi secured CFTC approval to launch bitcoin perpetual futures. Additionally, the firm has recently submitted applications for stock index perpetual futures. Copper, a critical raw material for infrastructure including power grids, construction, electric vehicles, electronic devices, and AI data centers, is already widely traded on exchanges such as CME COMEX, London Metal Exchange (LME), and Shanghai Futures Exchange.
Japanese and South Korean stock indexes opened higher, with South Korea’s KOSPI index rising 3.2% at the open.
According to Bitget market data, the Nikkei 225 index opened 461.11 points higher on Thursday, August 20, with a 0.71% gain to 65,787.53 points. South Korea’s KOSPI index opened 3.2% higher, with SK Hynix surging over 7% and Samsung Electronics climbing more than 3%.
10 minutes ago
Linera claims it aims to become the 'next Hyperliquid' and will promote the LNRA token sale.
New public blockchain Linera, founded by former Libra employees, announced today that it aims to become the "next Hyperliquid" and teased an upcoming LNRA token sale. Linera said it is following Hyperliquid’s playbook: building its own dedicated chain, focusing on consumer products, operating with a small team, generating real revenue first, and prioritizing user rewards. Its core product is a real-time prediction market at app.linera.xyz, which can launch, operate, and settle within one minute. The project uses a parallel microchains architecture, supporting thousands of small markets to run simultaneously, with final confirmation times typically under one second—solving congestion and high fees that plague general-purpose blockchains in real-time use cases. All markets operate on a pure player-versus-player (PvP) model, with no house and no external market makers required. The core team numbers just five members. Users who earn badges by engaging with the product will get priority access to an exclusive subscription pool for the LNRA sale. Detailed sale information will be announced at a later date.
10 minutes ago
US CFTC Seeks Public Comment on AI Computing Power Futures
As industry giants begin to accept compute power as a tradable asset, the U.S. Commodity Futures Trading Commission (CFTC) is seeking public comments on compute power futures contracts. Multiple exchanges, including CME Group (CME), Intercontinental Exchange (ICE), and emerging fintech firm Architect Financial Technologies, have announced plans to launch such contracts once regulatory approval is secured. These exchanges argue that establishing a compute power futures market would help end-users and speculators hedge against risks like energy shortages or other issues that could hinder technological progress for AI developers. CFTC Chair Michael Selig said in a Wednesday statement: "Without a robust compute power derivatives market, the U.S. cannot win the AI race. This public comment period is the first step toward establishing clear rules for the U.S. compute power market." One of the issues covered in the CFTC’s public comment process is how compute power futures differ from other derivatives or underlying commodities already regulated by the agency. If compute power futures are permitted to list on CFTC-regulated exchanges, further standardization of variables affecting compute power prices may be required, including price indices used for settlement reference and other related factors.
10 minutes ago
U.S. stocks: The three major indexes closed higher this morning, Moderna surged 177%, and crypto-related stocks rallied sharply.
According to market data from BIT (Bit.com), U.S. stocks closed on Wednesday: the Dow Jones Industrial Average initially rose 0.22%, the S&P 500 gained 0.21%, and the Nasdaq advanced 0.16%. Moderna (MRNA.O) surged 176.9%, while Merck (MRK.N) climbed 12.6%. Moderna and Merck announced that their jointly developed personalized mRNA cancer vaccine intismeran autogene (formerly mRNA-4157/V940), in combination with Merck’s immunotherapy drug Keytruda (pembrolizumab), met both the primary endpoint and key secondary endpoints in the Phase III clinical trial (INTerpath-001) for patients with high-risk melanoma (skin cancer). Marvell Technology (MRVL.O) rose over 9.8%, SK Hynix (SKHY.O) gained 0.35%, SanDisk (SNDK.O) fell 3.5%, and Micron Technology (MU.O) dropped 0.39%. In terms of crypto-related stocks: Strategy’s share price rose 11.95% to $103.58, having surged more than 13% intraday; Coinbase climbed 9.05% to $159.47; stablecoin issuer Circle increased 9.44% to $78.50; and Ethereum reserve firm BitMine gained 9.68% to $20.05.
10 minutes ago
Key takeaways from Trump’s crypto-friendly remarks: He disclosed that the U.S. government has discussed accumulating a "significant amount" of Bitcoin, vowed to end the "war on crypto" entirely, and urged the prompt passage of the Genius Act.
U.S. President Donald Trump met with executives from crypto and fintech firms including Coinbase, Ripple, Robinhood, Gemini, and Chainlink at the White House’s Roosevelt Room on Wednesday local time, delivering a speech in support of cryptocurrencies. Trump said his administration has “completely ended the war on cryptocurrencies,” noting the industry is thriving, and the U.S. must retain its “undisputed leadership” in areas such as Bitcoin, cryptocurrencies, prediction markets, and artificial intelligence, while committing to becoming the “world’s crypto capital.” He added that the U.S. government has discussed accumulating “significant quantities” of Bitcoin and other cryptocurrencies, claiming crypto assets “have greatly eased pressure on the U.S. dollar.” Meanwhile, he urged Congress to pass a “fair version” of the Clarity Act (Digital Asset Market Clarity Act) promptly, arguing this would keep the U.S. ahead of China and other countries. Trump also noted that the SEC Chair is working to bring Hyperliquid to the U.S. market in a compliant manner, and highlighted policy achievements including the signed Genius Act (stablecoin legislation), strategic Bitcoin reserves, and the ban on central bank digital currencies (CBDCs).
10 minutes ago
Kalshi Seeks CFTC Approval for Copper Perpetual Futures, Prediction Market Platforms Accelerate Expansion Into Derivatives Sector
Prediction market platform Kalshi has submitted an application to the U.S. Commodity Futures Trading Commission (CFTC) to launch copper price-linked perpetual futures contracts. According to an August 18 filing, the proposed COPPERPERP contract will track copper spot prices priced in U.S. dollars per pound, utilizing price data from blockchain data service provider Pyth Network. The contract will be cash-settled with no physical copper delivery involved. Unlike traditional futures, perpetual futures have no expiration date, enabling traders to hold positions long-term without rolling over, and maintain price alignment with the spot market via a periodic funding rate mechanism between long and short parties. This application signals Kalshi’s further expansion beyond the bounds of traditional event prediction markets into the commodities and financial derivatives space. Earlier this May, Kalshi secured CFTC approval to launch bitcoin perpetual futures. Additionally, the firm has recently submitted applications for stock index perpetual futures. Copper, a critical raw material for infrastructure including power grids, construction, electric vehicles, electronic devices, and AI data centers, is already widely traded on exchanges such as CME COMEX, London Metal Exchange (LME), and Shanghai Futures Exchange.
Japanese and South Korean stock indexes opened higher, with South Korea’s KOSPI index rising 3.2% at the open.
According to Bitget market data, the Nikkei 225 index opened 461.11 points higher on Thursday, August 20, with a 0.71% gain to 65,787.53 points. South Korea’s KOSPI index opened 3.2% higher, with SK Hynix surging over 7% and Samsung Electronics climbing more than 3%.
10 minutes ago
Linera claims it aims to become the 'next Hyperliquid' and will promote the LNRA token sale.
New public blockchain Linera, founded by former Libra employees, announced today that it aims to become the "next Hyperliquid" and teased an upcoming LNRA token sale. Linera said it is following Hyperliquid’s playbook: building its own dedicated chain, focusing on consumer products, operating with a small team, generating real revenue first, and prioritizing user rewards. Its core product is a real-time prediction market at app.linera.xyz, which can launch, operate, and settle within one minute. The project uses a parallel microchains architecture, supporting thousands of small markets to run simultaneously, with final confirmation times typically under one second—solving congestion and high fees that plague general-purpose blockchains in real-time use cases. All markets operate on a pure player-versus-player (PvP) model, with no house and no external market makers required. The core team numbers just five members. Users who earn badges by engaging with the product will get priority access to an exclusive subscription pool for the LNRA sale. Detailed sale information will be announced at a later date.
10 minutes ago
US CFTC Seeks Public Comment on AI Computing Power Futures
As industry giants begin to accept compute power as a tradable asset, the U.S. Commodity Futures Trading Commission (CFTC) is seeking public comments on compute power futures contracts. Multiple exchanges, including CME Group (CME), Intercontinental Exchange (ICE), and emerging fintech firm Architect Financial Technologies, have announced plans to launch such contracts once regulatory approval is secured. These exchanges argue that establishing a compute power futures market would help end-users and speculators hedge against risks like energy shortages or other issues that could hinder technological progress for AI developers. CFTC Chair Michael Selig said in a Wednesday statement: "Without a robust compute power derivatives market, the U.S. cannot win the AI race. This public comment period is the first step toward establishing clear rules for the U.S. compute power market." One of the issues covered in the CFTC’s public comment process is how compute power futures differ from other derivatives or underlying commodities already regulated by the agency. If compute power futures are permitted to list on CFTC-regulated exchanges, further standardization of variables affecting compute power prices may be required, including price indices used for settlement reference and other related factors.
10 minutes ago
U.S. stocks: The three major indexes closed higher this morning, Moderna surged 177%, and crypto-related stocks rallied sharply.
According to market data from BIT (Bit.com), U.S. stocks closed on Wednesday: the Dow Jones Industrial Average initially rose 0.22%, the S&P 500 gained 0.21%, and the Nasdaq advanced 0.16%. Moderna (MRNA.O) surged 176.9%, while Merck (MRK.N) climbed 12.6%. Moderna and Merck announced that their jointly developed personalized mRNA cancer vaccine intismeran autogene (formerly mRNA-4157/V940), in combination with Merck’s immunotherapy drug Keytruda (pembrolizumab), met both the primary endpoint and key secondary endpoints in the Phase III clinical trial (INTerpath-001) for patients with high-risk melanoma (skin cancer). Marvell Technology (MRVL.O) rose over 9.8%, SK Hynix (SKHY.O) gained 0.35%, SanDisk (SNDK.O) fell 3.5%, and Micron Technology (MU.O) dropped 0.39%. In terms of crypto-related stocks: Strategy’s share price rose 11.95% to $103.58, having surged more than 13% intraday; Coinbase climbed 9.05% to $159.47; stablecoin issuer Circle increased 9.44% to $78.50; and Ethereum reserve firm BitMine gained 9.68% to $20.05.
10 minutes ago
Key takeaways from Trump’s crypto-friendly remarks: He disclosed that the U.S. government has discussed accumulating a "significant amount" of Bitcoin, vowed to end the "war on crypto" entirely, and urged the prompt passage of the Genius Act.
U.S. President Donald Trump met with executives from crypto and fintech firms including Coinbase, Ripple, Robinhood, Gemini, and Chainlink at the White House’s Roosevelt Room on Wednesday local time, delivering a speech in support of cryptocurrencies. Trump said his administration has “completely ended the war on cryptocurrencies,” noting the industry is thriving, and the U.S. must retain its “undisputed leadership” in areas such as Bitcoin, cryptocurrencies, prediction markets, and artificial intelligence, while committing to becoming the “world’s crypto capital.” He added that the U.S. government has discussed accumulating “significant quantities” of Bitcoin and other cryptocurrencies, claiming crypto assets “have greatly eased pressure on the U.S. dollar.” Meanwhile, he urged Congress to pass a “fair version” of the Clarity Act (Digital Asset Market Clarity Act) promptly, arguing this would keep the U.S. ahead of China and other countries. Trump also noted that the SEC Chair is working to bring Hyperliquid to the U.S. market in a compliant manner, and highlighted policy achievements including the signed Genius Act (stablecoin legislation), strategic Bitcoin reserves, and the ban on central bank digital currencies (CBDCs).
10 minutes ago
Kalshi Seeks CFTC Approval for Copper Perpetual Futures, Prediction Market Platforms Accelerate Expansion Into Derivatives Sector
Prediction market platform Kalshi has submitted an application to the U.S. Commodity Futures Trading Commission (CFTC) to launch copper price-linked perpetual futures contracts. According to an August 18 filing, the proposed COPPERPERP contract will track copper spot prices priced in U.S. dollars per pound, utilizing price data from blockchain data service provider Pyth Network. The contract will be cash-settled with no physical copper delivery involved. Unlike traditional futures, perpetual futures have no expiration date, enabling traders to hold positions long-term without rolling over, and maintain price alignment with the spot market via a periodic funding rate mechanism between long and short parties. This application signals Kalshi’s further expansion beyond the bounds of traditional event prediction markets into the commodities and financial derivatives space. Earlier this May, Kalshi secured CFTC approval to launch bitcoin perpetual futures. Additionally, the firm has recently submitted applications for stock index perpetual futures. Copper, a critical raw material for infrastructure including power grids, construction, electric vehicles, electronic devices, and AI data centers, is already widely traded on exchanges such as CME COMEX, London Metal Exchange (LME), and Shanghai Futures Exchange.
In brief Bitcoin jumped as much as 8.7% Wednesday to an intraday high of $69,749, its steepest one-day move since March 4 and its highest price since June 1. On Myriad, prediction odds flipped from roughly 70-30 favoring a bearish decline to a near coin flip within 24 hours. The rally followed a U.S. Treasury plan to double its long-bond buybacks and more than $1 billion in short liquidations wiped out in a single hour. Bitcoin ripped through $69,000 Wednesday, climbing as much as 8.7% to an intraday high of $69,749. That's the steepest one-day move since March 4 and the highest price Bitcoin has touched since June 1. Traders hadn't seen a green candle like this in more than five months.
So where does Bitcoin go next? The charts have one read, and prediction markets have another. A mere 24 hours ago, traders on Myriad—a prediction market operated by Decrypt’s parent company—were sure there was more pain in store for Bitcoin ahead. Now, it’s a coin flip, with odds moving fast.
Myriad: Where does Bitcoin price go next? Click to make your prediction.What a difference a squeeze makes.
The trigger for today’s big move doesn’t appear to be crypto-native. The U.S. Treasury said Wednesday it will at least double its long-bond buybacks, from $2 billion to $4 billion per operation starting September 9, pushing long-end yields down and weakening the dollar. These types of moves typically bode well for risk assets, like crypto, because they loosen financial conditions—lower yields cut the opportunity cost of holding a non-yielding asset like Bitcoin, and a weaker dollar makes dollar-priced assets cheaper for foreign buyers, the same dynamic analysts have already nicknamed 'QE Lite.'
Here Comes QE Lite: Yields, Dollar Tumble, Gold Spikes After Treasury Unexpectedly Doubles Size Of Long-End Treasury Buybacks https://t.co/tkGPY0BEf0
— zerohedge (@zerohedge) August 19, 2026
The timing also lined up with a White House meeting between crypto executives and regulators, plus a fresh SEC proposal easing registration rules for some digital-asset offerings. It was a perfect storm, in the best way for crypto bulls, and the move overextended fast.
CoinGlass's liquidation panel showed $1.14 billion in shorts wiped out across crypto in a single hour, with Bitcoin alone accounting for $677.64 million of that. Crypto-linked stocks followed the squeeze higher, with Strategy up nearly 12%, Coinbase up 9%, and Circle and BitMine both gaining roughly 9-10% on the day.
Predictors scramble to catch upNobody saw it coming, and prediction markets are showing it. Myriad's "BTC next move" market—wagering on a pump to $84,000 against a dump to $55,000—had traders leaning roughly 70% toward the dump just days ago.
By Wednesday afternoon, those odds had collapsed to a near coin flip: 51.9% on $55K, 48.1% on $84K.
The swing isn't isolated to Myriad. Polymarket's flagship 2026 Bitcoin price market was pricing a 56% chance BTC touched $55,000 before year-end and just 51% odds of a run to $75,000 as of last week.
On Kalshi, traders were even more cautious, giving Bitcoin a 54% shot at clearing $67,500 in August and 31% at $70,000—both thresholds Bitcoin blew through Wednesday.
The split is the story. Near-term predictors got caught flat-footed by a 7% green day they hadn't priced. The year-end markets barely flinched. Prediction markets have been setting volume records as more traders hedge real positions with them, which makes the Myriad flip today less a forecast than a recap of who got squeezed.
The next line in the sand sits at $70,284, the lower edge of a resistance band on Bitcoin's chart. A daily close above it opens room toward $73,245; losing $68,000 drags Bitcoin back inside the range that's trapped it since June.
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In brief Bitcoin jumped as much as 8.7% Wednesday to an intraday high of $69,749, its steepest one-day move since March 4 and its highest price since June 1. On Myriad, prediction odds flipped from roughly 70-30 favoring a bearish decline to a near coin flip within 24 hours. The rally followed a U.S. Treasury plan to double its long-bond buybacks and more than $1 billion in short liquidations wiped out in a single hour. Bitcoin ripped through $69,000 Wednesday, climbing as much as 8.7% to an intraday high of $69,749. That's the steepest one-day move since March 4 and the highest price Bitcoin has touched since June 1. Traders hadn't seen a green candle like this in more than five months.
So where does Bitcoin go next? The charts have one read, and prediction markets have another. A mere 24 hours ago, traders on Myriad—a prediction market operated by Decrypt’s parent company—were sure there was more pain in store for Bitcoin ahead. Now, it’s a coin flip, with odds moving fast.
Myriad: Where does Bitcoin price go next? Click to make your prediction.What a difference a squeeze makes.
The trigger for today’s big move doesn’t appear to be crypto-native. The U.S. Treasury said Wednesday it will at least double its long-bond buybacks, from $2 billion to $4 billion per operation starting September 9, pushing long-end yields down and weakening the dollar. These types of moves typically bode well for risk assets, like crypto, because they loosen financial conditions—lower yields cut the opportunity cost of holding a non-yielding asset like Bitcoin, and a weaker dollar makes dollar-priced assets cheaper for foreign buyers, the same dynamic analysts have already nicknamed 'QE Lite.'
Here Comes QE Lite: Yields, Dollar Tumble, Gold Spikes After Treasury Unexpectedly Doubles Size Of Long-End Treasury Buybacks https://t.co/tkGPY0BEf0
— zerohedge (@zerohedge) August 19, 2026
The timing also lined up with a White House meeting between crypto executives and regulators, plus a fresh SEC proposal easing registration rules for some digital-asset offerings. It was a perfect storm, in the best way for crypto bulls, and the move overextended fast.
CoinGlass's liquidation panel showed $1.14 billion in shorts wiped out across crypto in a single hour, with Bitcoin alone accounting for $677.64 million of that. Crypto-linked stocks followed the squeeze higher, with Strategy up nearly 12%, Coinbase up 9%, and Circle and BitMine both gaining roughly 9-10% on the day.
Predictors scramble to catch upNobody saw it coming, and prediction markets are showing it. Myriad's "BTC next move" market—wagering on a pump to $84,000 against a dump to $55,000—had traders leaning roughly 70% toward the dump just days ago.
By Wednesday afternoon, those odds had collapsed to a near coin flip: 51.9% on $55K, 48.1% on $84K.
The swing isn't isolated to Myriad. Polymarket's flagship 2026 Bitcoin price market was pricing a 56% chance BTC touched $55,000 before year-end and just 51% odds of a run to $75,000 as of last week.
On Kalshi, traders were even more cautious, giving Bitcoin a 54% shot at clearing $67,500 in August and 31% at $70,000—both thresholds Bitcoin blew through Wednesday.
The split is the story. Near-term predictors got caught flat-footed by a 7% green day they hadn't priced. The year-end markets barely flinched. Prediction markets have been setting volume records as more traders hedge real positions with them, which makes the Myriad flip today less a forecast than a recap of who got squeezed.
The next line in the sand sits at $70,284, the lower edge of a resistance band on Bitcoin's chart. A daily close above it opens room toward $73,245; losing $68,000 drags Bitcoin back inside the range that's trapped it since June.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Bitcoin has found some relief after months of selling pressure. On Wednesday, the cryptocurrency jumped nearly 6% to over $69,000, reclaiming a level it had not touched since early June. The jump came right after the Treasury Department announced that it would double purchases of older long-term government bonds.
“The market read this as a quiet form of quantitative easing, a move that weakens the dollar and sends scarce, debasement-hedge assets like Bitcoin higher,” Matt Mena, a senior strategist at crypto research firm 21Shares, told Fortune in a written statement.
Investors quickly piled into those assets, which in turn forced short sellers to cover roughly $1.5 billion in positions by buying Bitcoin in the market. That included purchases of about $700 million in a single minute, an event that 21Shares said may have amounted to the largest short squeeze in Bitcoin’s history.
The rally follows months of weak price action as Bitcoin struggled to recover from a brutal crash last October. Since that rout, which triggered more than $19 billion in liquidations, Bitcoin has fallen about 40% from the $115,000 level where it traded at the time, according to CoinGecko.
Alongside the Treasury announcement, Mena said investors have increasingly priced in a pause in rate hikes over the past two months. U.S. spot Bitcoin ETFs drew roughly $1 billion in inflows during the first two weeks of August, adding another source of demand for the cryptocurrency.
Bitcoin wasn’t the only cryptocurrency to rally following the Treasury announcement. Ethereum and Zcash led major tokens, each rising 9% in the past 24 hours.
A possible bottom The rally may signal that Bitcoin’s bear market has moved past its worst phase, according to Zach Pandl, Grayscale’s head of research.
“Our best guess is that Bitcoin potentially bottomed at $58,000 earlier this summer… and [that] it’s a compelling time for investors with longer-term horizons to be allocating to Bitcoin and the crypto asset class,” he said.
Pandl said the Treasury’s move highlighted deeper fiscal pressures and could prompt investors to consider alternative stores of value. The national debt is expected to reach $40 trillion before the end of the month, while the U.S. war with Iran has driven inflation higher across the country. Pandl added that recent favorable developments for the crypto industry may have also influenced Bitcoin’s price performance.
On Tuesday, the Securities and Exchange Commission proposed a regulatory framework for crypto assets that could reduce uncertainty as the CLARITY Act remains stalled in Congress. The proposal would exempt eligible crypto firms from certain federal securities rules and make it easier for them to issue tokens and raise capital.
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US government debt just passed $40 trillion for the first time. The Treasury put the total at $40.05 trillion on Tuesday. Bitcoin (BTC) traders now ask if the $40 trillion US debt record makes crypto the better place to hide.
The number is hard to picture. It works out to about $119,700 for every American. Interest alone costs nearly $1.2 trillion a year. That feeds fears of a doom loop, where borrowing costs force even more borrowing.
Why the $40 Trillion US Debt Number MattersThe government spent $432.3 billion more than it earned in July alone. That was the widest monthly gap since March 2021. This fiscal year’s shortfall is already near $1.8 trillion. The latest trillion piled up in just 154 days. The first trillion took until the end of 1981.
Table tracking each trillion-dollar step in US debt from 1981 to the $40 trillion US debt record in 2026. Source: BeInCryptoThe debt has grown by $17 trillion since 2020. A decade ago, it stood near $19.4 trillion. Meanwhile, public debt now roughly equals the size of the entire US economy.
Interest is now the government’s third-biggest bill. Only Social Security and Medicare cost more. The squeeze hits regular people too. Higher borrowing costs shape whether households can afford Bitcoin and crypto at all.
So what is the doom loop, exactly? It is a spiral with four turns. Washington borrows more, so bond buyers demand higher yields. Higher yields raise the interest bill. A bigger bill widens the deficit, and the deficit forces fresh borrowing. Each turn feeds the next.
Markets have watched smaller versions play out. The UK hit one in September 2022. Unfunded tax cuts sent gilt yields spiking until the Bank of England stepped in. The US has had its own warnings. Moody’s removed the country’s last triple-A credit rating in May 2025. Fitch acted in 2023, and S&P did in 2011.
BREAKING: Total US debt officially hits $40 trillion for the first time in history.
That's $119,699 in US debt for every American.
This puts the total US debt balance up +$17 trillion since 2020 and +$30 trillion since 2008.
We are on an unsustainable fiscal path. https://t.co/SLNs0MfTgD pic.twitter.com/kNIZDIZVeq
— The Kobeissi Letter (@KobeissiLetter) August 19, 2026
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Bond Market Stress Builds the Bitcoin CaseBond investors are demanding more to lend to Washington. Treasury yields have climbed since late June to levels last seen before the 2008 crisis. The 10-year note paid 4.72% on August 17, per St. Louis Fed FRED data.
That forced a response. The Treasury said Wednesday it will double buybacks of long-dated bonds. BeInCrypto reported earlier that expanded long-end buybacks helped pull the 30-year yield off its highs.
Treasury said it is at least doubling the maximum size of purchases of longer-dated nominal coupons in its program to buy back government debt, raising the cap from $2 billion to at least $4 billion per operation beginning Sept. 9. https://t.co/LKAXZ7L5bY
— Nick Timiraos (@NickTimiraos) August 19, 2026
Three forces are pushing yields up:
Companies are borrowing big to build artificial intelligence data centers.
Investors want extra pay for holding long bonds.
Also, many doubt the Federal Reserve will keep inflation in check.
Bitcoin, meanwhile, briefly reclaimed $70,000, marking the first time in almost 80 days, starting June 2. Sentiment is the BTC price looks better every time the bond market sells off.
Bitcoin Price Performance. Source: TradingViewDebasement Trade Meets a Cautious FedThe bullish story has a name. Traders call it the debasement trade. The bet is simple. Governments drown in debt, print money, and hard assets win.
Some companies are all in. Strategy holds 840,447 BTC. Japan’s Metaplanet owns over 43,000 BTC and wants 100,000 by year-end.
However, the trade is not a straight line. Spot bitcoin exchange-traded funds (ETFs) lost $4.9 billion in the second quarter. Hedge demand comes and goes.
The Fed is another hurdle. Hawkish Fed minutes out Wednesday showed three officials wanted a rate hike. Chair Kevin Warsh even floated fewer policy meetings. That leaves less easing for markets to hope for.
The question now is simple. Can Washington steady the debt before the doom loop kicks in? Upcoming bond auctions may show whether investors see $40 trillion as a warning or just another number.
Bitcoin has reclaimed its 200-day moving average, ending a stretch of sustained technical weakness that stretched well past nine months. For traders who treat this indicator as a dividing line between bull and bear territory, clearing it is a notable shift in market structure.
The move matters because of how long Bitcoin spent on the wrong side of it. BTC closed below the 200-day moving average for 270 consecutive days as of late July 2026, one of the longer such stretches in its trading history.
Why this number keeps coming up The 200-day moving average is roughly what it sounds like: the average closing price across the past 200 trading sessions. Think of it as a slow-moving baseline that filters out the day-to-day noise and tells you which direction an asset has generally been heading over the past several months.
The 200-day moving average had been sitting in the $69,000 to $75,000 range in mid-to-late August 2026, well above where Bitcoin was actually trading at the time. BTC was stuck in the low-to-mid $64,000 range during that period, meaning the gap between price and average was significant enough that casual observers would have called the trend unambiguously bearish.
The failed test in May This is not the first time Bitcoin attempted to reclaim the 200-day average in 2026. In May, BTC pushed up to approximately $82,400 and ran directly into resistance at the moving average. The rejection sent price back down and extended the streak below it.
What happens next tends to matter more than the cross itself Historically, periods when Bitcoin has traded above its 200-day average have aligned with the more constructive phases of its market cycles. Periods below it have generally corresponded with corrective or outright bearish conditions.
The 200-week moving average has historically served as a meaningful floor during Bitcoin’s deeper bear market phases, marking significant cycle lows in prior corrections. The fact that price is now attempting to clear the shorter-term 200-day average suggests the market is operating in recovery mode rather than capitulation territory.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Bitcoin has climbed to the 13th largest asset in the world by market capitalization, leapfrogging Meta Platforms, Tesla, and the Vanguard S&P 500 ETF (VOO) in an ongoing game of musical chairs at the top of the global asset rankings.
A volatile climb through the rankings Bitcoin’s position among the world’s largest assets has been anything but stable in 2026. The cryptocurrency has bounced between the 13th and 14th spots multiple times since May, with its ranking shifting on a near-daily basis as its price fluctuated within the $62,000 to $65,000 range.
The competition at this tier is remarkably tight. Meta Platforms sits at roughly $1.526 trillion, Tesla at approximately $1.314 trillion, and Bitcoin at around $1.3 trillion. The gap between 12th and 14th place amounts to roughly $226 billion.
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On August 12, Bitcoin was logged at the 14th position with a market cap of approximately $1.280 trillion, trailing both Tesla and Meta. But the asset has reclaimed the 13th spot since then, illustrating just how fluid these rankings have become.
For context, gold still reigns supreme at the top of the global asset leaderboard with a market cap of approximately $31 trillion.
VOO’s trillion-dollar milestone adds context One of the assets Bitcoin surpassed in this ranking shuffle is the Vanguard S&P 500 ETF, known by its ticker VOO. The fund crossed a notable threshold of its own earlier this year, becoming the first ETF to exceed $1 trillion in assets under management in early June 2026.
The comparison is admittedly imperfect. VOO’s assets under management represent investor capital parked in a fund, while Bitcoin’s market cap is calculated by multiplying every coin in existence by the current spot price, including coins that are lost, locked, or otherwise inaccessible.
What institutional-grade actually looks like Bitcoin’s performance at this market cap tier has shown notable correlation with broader tech stock trends. When AI-driven equities rally and risk appetite is strong, Bitcoin tends to benefit from the same tailwinds. When capital rotates out of growth and into defensive positions, Bitcoin often gets caught in the same downdraft.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Strategy [MSTR] shares jumped more than 12% on Wednesday as Bitcoin’s sudden recovery spilled into crypto-linked stocks.
The price of the stock was around $103.76 after it briefly got to the $106.90 level, as Bitcoin gained a more modest 5.59%.
For Strategy shareholders, though, the strong session comes after months of pain due to the price fall. The stock traded near $190 in May and recently fell towards $90, and Michael Saylor is still telling investors not to expect an easy ride from here.
Bitcoin puts MSTR back above $100 MSTR started Wednesday at $94.54. By the end of trading, it had gained 12.15%, with 33.85 million shares changing hands.
The Bitcoin price rise provided the backdrop for the stock price move, with BTC moving from below $65,000 to nearly $70,000 before dropping to around $68,297.
That price move tends to matter more for Strategy than for other companies because of its relationship with BTC.
Source: TradingView Strategy owns 840,447 BTC, so MSTR has become a way for stock-market investors to gain exposure to Bitcoin without buying it directly. The relationship can exaggerate moves in both directions.
Wednesday showed the upside of that relationship, while the past few months showed the other side.
But even after the rally that it saw today, MSTR still remains well below its May levels.
Saylor tells investors to prepare for difficult years Meanwhile, Saylor has offered shareholders a much longer timeline.
In response to concerns about Strategy’s falling share price and continued issuance of MSTR stock, he warned that investors should be prepared for potentially “difficult years.” He suggested common shareholders may need to think over a period as long as ten years.
In the last few weeks, there have been changes to Strategy’s Bitcoin holdings, with the company selling 1,690 BTC for $108.6 million between August 3 and 9, using the money to repurchase STRC preferred shares.
It separately raised $653.1 million from MSTR share sales and increased its dollar reserve to $4.65 billion.
With Wednesday’s Bitcoin price, the remaining BTC that Strategy holds were worth roughly $57.4 billion, and so far the company has spent $63.36 billion to purchase BTC.
MSTR may have returned above $100, but both the decline BTC witnessed earlier and Strategy’s increasingly complex financing structure continue to weigh on the investment case.
Final Summary MSTR gained 12.15% as Bitcoin’s rise towards $70,000 helped crypto-linked stocks to move higher. Saylor is asking shareholders to take a long view as Strategy sells shares and occasionally Bitcoin to raise capital.
Bitcoin (BTC) has just gone through its worst capitulation levels since 2014, but charts are showing signs of a possible imminent recovery in upcoming weeks/months.
Source: CryptoChan
In a recent publication, lead investment manager VanEck reported that BTC had already fired 8 out of 12 capitulation signals. Among these are the MVRV (Market Value to Realized Value) Z-score, the 49% drawdown from all-time high prices, net unrealized profit/loss (NUPL), and percentage supply in profit.
Source: Artemis XYZ
At some point in the last 3 months, the flagship cryptocurrency had fired all 12 signals, indicating a likely bottoming out in preparation for a full-on rally.
Bitcoin breaks above consolidation and taps $69KAt writing time, BTC had broken above its months-long consolidation between $62K and $64K, gained 7.02%, and reached a price of $69,081.
Its MVRV Z-score read 0.53, indicating entry into a neutral zone where price is well supported by actual buyer cost basis.
Additionally, the coin’s apparent demand has turned positive for the first time since February 2026, reaching roughly +25,000 BTC. This indicates an exhaustion in selling pressure and is historically associated with an 18.1% median gain ($81,489) over 60 days at a 78% win rate.
Further analysis Today, Bitcoin flipped its multi-month upper resistance into a new support level when its price rose above $65,000.
The next major resistance lies at $71,300 – $71,500, closely aligned with its 200-day moving average. After that would be the macro hurdle level at $75,000 – $76,638. Crossing this would signal a definitive end to the macro bearish trend. Supporting this would be a Relative Strength Index (RSI) above 50, indicating bulls overtaking bears in the market.
Source: TradingView
Core Market DriversSeveral events have contributed to the recent pump and may support future positive price movements. The first is the US bond buyback operation, which has weakened the dollar and reduced its bond yield, effectively rerouting investor interest to risky assets like Bitcoin.
Another is institutional demand, with spot Bitcoin ETFs returning to consecutive daily net inflows.
A third is the September CLARITY Act vote, an event that will be the decisive factor for long-term institutional sentiment.
Other factors that would affect BTC price would be Fed interest rate changes and developments in the Middle East conflict.
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