Track market-moving stories before they get noisy

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.

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Ethereum has surged by 18% in the past 24 hours as of writing, pushing ETH out of its five-week consolidation and extending its weekly gain to 19.65%.

In support of the rally, the altcoin’s trading volume jumped 402% as the price cleared the $2,003 resistance and reached $2,252.80. Meanwhile, the RSI rose to 92.14, indicating that the momentum had been stretched significantly after the extremely fast increase in price.

Additionally, MACD increased sharply, further supporting acceleration as ETH was moving into a wider trading area than it ever previously had.

Source: ETH/USD on TradingView However, $2,426.30 now becomes important because sellers previously defended that April supply level. Holding $2,003 would preserve the new structure and keep buyers in control.

Conversely, losing that level would return ETH inside its former range, weakening the breakout despite the surge in volume.

Can Ethereum’s rally extend toward $2,636? That breakout now brings Ethereum into the important zone of the rally, where fresh demand must absorb overhead supply.

At press time, ETH was approaching the $2,431–$2,500 range. This price level is important here since this has been a previous high-price area with significant trading volume. As such, it is also an important swing high.

This zone matters because sellers who previously traded there can re-enter as price returns. Therefore, sustained volume becomes crucial for keeping the advance intact rather than simply extending momentum.

Still, a gradual reset of the RSI toward 60-70 would also be of importance. Especially if Ethereum is continuing to form higher lows while consolidating. This would provide enough cooling-off time for momentum without undoing the broader rally.

If buying interest absorbs selling pressure above $2500, then the focus shifts toward the $2636 zone. This is because this is where another prior support to resistance transition exists.

However, if Ethereum [ETH] repeatedly fails to get past the $2431-$2500 area, it would show that Ethereum’s rapid advance has reached meaningful resistance.

Can ETH buyers squeeze $98M shorts?
The resistance test also revealed a contest between aggressive buyers and traders positioned against Ethereum’s advance.

On the 19th of August, Ethereum’s hourly Taker Buy Volume reached $2.55 billion. It was the third-highest hourly reading since the 7th of February.

Source: CryptoQuant Such orders consume available sell liquidity. Simply, this shows that as the rally continued, buyers have been accepting higher prices to fill their orders.

However, that pressure is meeting sizeable leveraged opposition. According to Lookonchain data, two Hyperliquid whales hold combined shorts of 50,838 ETH, worth roughly $98 million.

Their positions therefore turn continued buying into a potential pressure point rather than simply another demand signal. One liquidation level sits near $2,273, placing it directly around ETH’s advance.

If buying persists, forced short closures could reinforce demand. Otherwise, sellers absorbing these orders would weaken the rally’s underlying momentum.

Final Summary Ethereum [ETH] surged 18% as strong volume confirmed its breakout, bringing the $2,431–$2,500 resistance zone into focus. ETH faces $98M in whale shorts as aggressive buying determines whether momentum can extend toward $2,636.

Ethereum climbed back above $2,200, advancing 18% in the past 24 hours amid a broad-based crypto resurgence. According to CoinGecko data, ETH also gained 19.7% over the past week and rose 17.4% within the last month, marking one of its most significant rallies in 2026.

Market momentum behind Ethereum’s rallyThe latest price surge followed a noteworthy event at the White House, where US President Donald Trump hosted a group of CEOs from leading cryptocurrency firms, including Ripple and Coinbase. During this meeting, Trump shared that the United States is evaluating the possibility of acquiring substantial amounts of Bitcoin and other digital assets. His remarks appeared to boost investor morale across the sector.

Bitcoin also surged toward the $70,000 mark, lifting sentiment throughout the cryptocurrency market. As Bitcoin’s price momentum accelerated, Ethereum rode this positive wave, achieving its own substantial gains.

While cryptocurrencies rallied, technology stocks experienced a decline. Market participants speculated that funds may be shifting from equities into digital assets, supporting the ongoing upswing in crypto valuations.

US President Donald Trump indicated interest in significant government Bitcoin purchases during a White House event with industry leaders, reportedly energizing crypto investor sentiment.

In such a market environment, where a single Federal Reserve announcement or an unexpected altcoin listing can trigger dramatic moves in seconds, efficiency in monitoring assets becomes crucial. Many investors now turn to privacy-focused solutions like CryptoAppsy, which provide integrated real-time charts, price alerts, coin-specific news, and essential macroeconomic indicators—without requiring registration or multiple applications—consolidating vital tools on a single platform.

Prospects for a continued bull runSince late 2025, cryptocurrency prices have remained highly volatile. Both Bitcoin and Ethereum reached record highs in 2025 but underwent notable corrections during 2026. These fluctuations have aligned with overall market cycles.

Historically, Bitcoin has established new peaks every four years, notably in 2017, 2021, and 2025. Market analysts anticipate another all-time high in 2029. The upward trajectory leading to this next milestone may commence in late 2026 or 2027, following established patterns of recovery and expansion. Ethereum’s recent rally appears to mirror this historical narrative.

The cryptocurrency market remains in line with established four-year cycles, with expectations for a new Bitcoin peak in 2029 after past highs in 2017, 2021, and 2025. The current uptrend could mark the beginning of this next phase.

Despite the current rally, analysts caution about a range of macroeconomic risks. Ongoing geopolitical tensions, particularly the US-Iran conflict, may contribute to increasing oil prices and heightened inflation. Should these factors prompt the Federal Reserve to increase interest rates, both Ethereum and the broader cryptocurrency market could encounter renewed selling pressure and a potential correction.

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.

Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Due to ETH's abrupt breakout, which resulted in nearly $3 billion in cryptocurrency liquidations and heavily penalized short positions, one of Ethereum's most prosperous high-leverage traders experienced a severe reversal. 

History doesn't guarantee the futureDuring the trade, the trader known as pension-usdt.eth reportedly lost about $49 million, ending an incredible 23-trade winning streak. The account's reputation was largely established through its successful shorting of Ethereum, so the most recent loss was especially noteworthy: when ETH suddenly moved against it, the same strategy that had produced frequent wins became very costly. 

ETH/USDT Chart by TradingViewOver 172,000 traders were impacted by the $2.99 billion in leveraged positions that were liquidated throughout the cryptocurrency market in a single day. In contrast to the $256.5 million in long liquidations, shorts accounted for approximately $2.74 billion. 

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This indicates that traders who were positioned for lower prices accounted for more than 91% of the liquidated capital. Second only to Bitcoin at $1.42 billion, Ethereum alone accounted for about $1.13 billion in liquidations. The scale can be explained by the violent price action of ETH. 

Solid reversalEthereum formed a massive daily candle and a remarkable volume spike when it surged from the region below $2,000 and momentarily broke above $2,300. Additionally, the move sent the daily RSI above 80, putting ETH firmly in overbought territory, indicating incredibly strong short-term momentum.

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More significantly, ETH overcame a number of technical obstacles nearly simultaneously. The asset broke above the major long-term moving average around $2,125 after reclaiming the moving averages around $1,875 and $1,935. 

As leveraged shorts hit their liquidation thresholds, this likely accelerated forced buying. The pension-usdt.eth loss illustrates the risk of extending even a remarkable trading record indefinitely. While a 23-win run can yield significant profits, leveraged short positions carry asymmetric risk during sudden upside repricing. 

Ethereum is currently trading at about $2,250 following the surge. Maintaining the technical significance of the breakout would require holding above roughly $2,125. Even though the market's structure has significantly improved, short-term volatility and a possible cooldown remain significant risks, with the RSI above 80 after such an aggressive liquidation-driven move.

GnosisDAO approved Gnosis Chain’s transition from a standalone layer-1 network to a ZK-proven Ethereum Economic Zone (EEZ) rollup.

GIP-153 received 123,158 GNO in support, 115 against and 151 abstaining across 54 voters, Gnosis Chain said in an X post. Turnout reached 123,425 GNO, exceeding the 75,000 quorum.

Under the proposal, Gnosis Chain’s validator set would be retired and the network would settle transactions on Ethereum, making Gnosis Chain a layer-2 (L2) that relies on Ethereum’s validators for settlement.

An initial launch is targeted for late 2026 or early 2027, subject to the required EEZ technology being ready.

The update would enable Gnosis Chain-native smart contracts to call Ethereum and use the result in the same transaction, giving it access to Ethereum mainnet assets and liquidity in an environment “optimized” for consumers, a capability the proposal says is not currently available on existing L2s.

Gnosis Chain to become first production EEZ instanceThe EEZ is a framework for building Ethereum-aligned rollups, developed by Gnosis and ZisK, with funding from the Ethereum Foundation.

The initiative aims to unify Ethereum’s fragmented L2 ecosystem by enabling smart contracts across different rollups to execute synchronously without relying on bridges. It targets one of Ethereum’s main scaling trade-offs: improved throughput from dozens of L2 networks, which separate liquidity, infrastructure, and user activity across separate blockchains.

Gnosis Chain would become its first deployed instance while retaining its existing applications, balances and xDAI gas token.

Ethereum co-founder Vitalik Buterin previously raised concerns about the centralized sequencers and trusted bridging mechanisms as potential weak points in the design of some L2 networks. “The original vision of L2s and their role in Ethereum no longer makes sense, and we need a new path,” Buterin wrote in a Feb. 3 X post. 

According to data from L2Beat, 22 Ethereum rollups currently secure $27.82 billion. Including validiums, optimiums and other scaling networks, the platform tracks $34.88 billion in total value secured.

EEZ could reduce reliance on vulnerable infrastructure: Standard CharteredEEZ could reduce reliance on blockchain bridges and increase activity within the Ethereum ecosystem, according to Geoffrey Kendrick, global head of digital assets research at Standard Chartered. 

“The EEZ will have the benefit of reducing the need for bridges (where hacks tend to occur) and increasing the usability of assets in EVM chains,” he wrote in a May 28 report shared with Cointelegraph.

“Both of these are likely to lead to greater activity in the Ethereum ecosystem.” Kendrick said the EEZ could create greater composability between assets, allowing smart contracts on different participating networks to interact within the same transaction.

Magazine: Ethereum’s EEZ could pull other blockchains into its orbit

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

11h05 ▪ 6 min read ▪ by Luc Jose A.

Summarize this article with:

The crypto market has just received a powerful boost. On August 19, 2026, the U.S. Treasury announced the doubling of its bond buybacks, triggering an immediate reaction in cryptos. Ethereum has crossed key technical thresholds, while altcoins followed in a significant movement fueled by the liquidation of short positions. After several months of sluggishness, this liquidity injection changes market dynamics. The question remains whether this awakening marks the start of a new bullish phase or merely a temporary surge driven by macroeconomics.

In Brief The US Treasury doubles its bond buybacks to $4 billion and injects a wave of liquidity into the markets. The market’s second-largest crypto jumps nearly 10% to reach a high of $2,112, ending two months of lethargy. The rise pushes the altcoins’ market cap above $1 trillion and triggers $1.3 billion in short position liquidations on Bitcoin. ZEC soars 9% to reach $557, followed by strong gains on Solana, XRP, and Stellar. Ethereum’s surge and the U.S. macroeconomic catalyst Summer lethargy shattered under the pressure of a major policy decision made in Washington. The U.S. Department of the Treasury took the market by surprise by announcing the doubling of its bond buyback program, raising the total amount to $4 billion. Thus, Ethereum (ETH), the second-largest crypto by market value, went back above the psychological $2,000 mark for the first time in over two months.

The token surged nearly 10%, reaching an intraday high of $2,112 before entering a consolidation phase just below $2,090. This sudden impulse, created by the announcement, sharply contrasts with the stagnation observed since August 8, during which the price remained stuck below $1,900, except for rare and brief bullish attempts.

This price jump mechanically reshuffled global valuations, demonstrating a massive resurgence of risk-taking by investors. Within a few hours, Ethereum’s market capitalization rose from less than $230 billion to over $251 billion.

Meanwhile, Bitcoin’s price flirted with the symbolic $70,000 mark, stopping at $69,749, driven by a wave of forced short position liquidations amounting to $1.3 billion. This combined rise of the two sector pillars also allowed the total altcoin market capitalization to surpass the $1 trillion level again for the first time in nearly a month, confirming a massive influx of fresh capital.

Several major financial metrics illustrate the magnitude of this market movement :

$2,112 : the intraday high reached by Ethereum after nearly a 10% increase ;  $251 billion : the new market cap of ETH, up from its initial $230 billion ;  $1.3 billion : total forced liquidations of short positions on Bitcoin during its rise to $69,749 ;  $1 trillion : the key threshold surpassed again by the global market capitalization of altcoins. Capital rotation and the awakening of alternative tokens Beyond the surge of the two sector leaders, this liquidity shock triggered an immediate rotation towards higher beta assets, with Zcash (ZEC) emerging as the day’s big winner. The privacy-focused token jumped from just over $503 to a high of $557, marking a 9% gain almost entirely within an hour.

This movement brought its market cap to $9.3 billion, allowing it to widen the gap over its direct competitor Monero (XMR), which fell by 0.9%. The green wave also swept other major projects such as Solana (SOL), XRP, and HYPE, all posting gains above 6%, while Stellar (XLM) advanced 7.5%.

Only a few rare cryptos remained on the sidelines of this widespread movement, such as LEO, down 2%, or TRON (TRX), retreating moderately by 0.7%. This heterogeneous behavior shows that investors are not blindly seeking risk but are conducting rigorous selection by reallocating liquidity primarily to tokens that suffered prolonged undervaluation.

Technical analysis and scenarios for the next phase of the cycle Examining this renewed market structure, Michaël van de Poppe, CIO and founder of MN Fund, described Ethereum’s recent trajectory as a “phenomenal breakout”. The analyst believes the movement should not fade in the short term, while favoring a transitional accumulation phase: “I don’t think the movement is going to lose steam, not at all, but after such a surge, I would much prefer to see it consolidate a bit”.

He specifies being on the lookout for buying opportunities on pullbacks and sets precise targets if the key support holds: “As long as the price stays above $2,000, the market should expect a continuation towards $2,250, then a high of $2,465, with the $2,900 zone as a potential target”.

Observing the crossing of these critical price levels, it is important to emphasize that the sustainability of this movement will rely on buyers’ ability to maintain the structure above the $2,000 support. While the reaction to U.S. monetary policy announcements provided the initial catalyst, confirming a genuine cycle change will depend on consolidating volumes in altcoins in the coming sessions. As Michaël van de Poppe summarizes to seal the technical analysis of this close: “If we record a higher high, the bear market is indeed over”.

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Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

TLDR ETH surged 18% in 24 hours, pushing its weekly gain to 19.65% Trading volume jumped 402% as price broke above $2,003 resistance RSI spiked to 92.14, signaling overbought conditions after the fast move Key resistance sits between $2,431 and $2,500, with $2,636 as the next target Two Hyperliquid whales hold $98 million in ETH shorts, with a liquidation level near $2,273 Ethereum jumped 18% in the past 24 hours. The move pushed ETH out of a five-week consolidation range.

Weekly gains for ETH now sit near 19.65%. The price cleared $2,003 resistance and reached a high of $2,252.80.

Trading volume jumped 402% during the move. Higher volume often confirms buyer interest during a breakout.

The RSI climbed to 92.14. That reading points to overbought conditions after the fast price increase.

The MACD indicator also rose sharply. It supported the move into a wider trading range for ETH.

Traders are watching $2,003 as a support level. Holding above this price would keep the new structure intact.

A drop back below $2,003 would put ETH back inside its old range. That would weaken the case for a lasting breakout.

Ethereum Price on CoinGecko Next Resistance Sits Near $2,500 ETH is now testing the $2,431 to $2,500 zone. This area held as a high-volume swing high earlier this year.

Sellers who traded in this zone before could return as price nears it again. Sustained volume will be needed to push through.

A gradual pullback in RSI toward 60-70 would ease overbought conditions. This could happen while ETH still forms higher lows.

If buyers clear the $2,500 zone, the next target becomes $2,636. That level marks a prior support-to-resistance shift.

Repeated failure to clear $2,431-$2,500 would show that the rally has met real resistance.

Whales Hold $98 Million in Short Positions Ethereum’s hourly taker buy volume hit $2.55 billion on August 19. That was the third-highest hourly reading since February 7.

Large buy orders like these use up available sell liquidity. It shows buyers accepted higher prices to get filled.

On-chain analyst Lookonchain reported that two Hyperliquid whales hold combined ETH shorts of 50,838 ETH. That position is worth close to $98 million at current prices, based on data the analyst shared on X.

One of the liquidation levels for these shorts sits near $2,273. That price sits directly inside ETH’s current advance.

If ETH keeps climbing, forced closures of these short positions could add to buying pressure. If sellers absorb the buying instead, the rally could lose steam.

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.”

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Photo: Sebastian Duda on Shutterstock.com

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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 (CRYPTO: BTC) jumped 6% after the US Treasury announced it would double its long-term bond buyback operations, sending gold surging and crypto sharply higher across the board.

What the Treasury Actually AnnouncedAccording to a Treasury press release, the department will increase liquidity support buyback operations for longer-dated nominal coupon securities from a maximum of $2 billion per operation to at least $4 billion per operation. 

The change takes effect September 9 and runs through November 4, 2026.

The announcement sent markets sharply higher within hours. Bitcoin (CRYPTO: BTC) jumped 6%, Ethereum (CRYPTO: ETH) surged 8%, Solana (CRYPTO: SOL) spiked 7%, and XRP (CRYPTO: XRP) gained 4% on the session.

Why Schiff Says This Sends Inflation HigherPeter Schiff posted on X that the Treasury is stepping in to buy long-term bonds that private investors no longer want, with the money to fund those purchases ultimately created by the Fed. 

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“That’s why gold is already up $125 on the news,” Schiff wrote.

In a follow-up post, Schiff added that funding the buybacks through short-term debt issuance makes it harder for the Fed to raise rates, since it drives up federal interest expense and widens the deficit. 

The result, he argued, is growing pressure for rate cuts and quantitative easing even as inflation rises.

Why Is Crypto Rallying on the News?According to Reuters, the Treasury announcement knocked 30-year yields sharply lower from near 19-year highs while the dollar index fell 0.8%. 

Gold surged 3.5% to $4,487 per ounce, its highest level since June 4, as markets immediately priced in the liquidity signal.

Falling yields and a weaker dollar have historically pushed capital into hard assets and risk assets like crypto. 

Traders are reading the buyback program as QE Lite, a sign that the Fed’s ability to keep tightening is now constrained, the same backdrop that fueled Bitcoin’s biggest prior rallies.

TD Securities wrote in a note cited by Reuters that Treasury liquidity support, a Fed willing to look through an energy shock, and a growing stagflation narrative should all push real rates lower, a setup that favors gold and crypto alike.

Where Bitcoin Stands TechnicallyBTC blasts to $68,500 Wednesday, clearing the descending trendline, and the three-month range ceiling in a single session. 

The 20-day and 50-day EMAs now sit firmly below as rising support. The next meaningful ceiling is the 200-day EMA at $71,468.

Key levels for BTC: $65,800 — prior resistance, must hold as new support $71,468 — 200-day EMA, next upside target Photo via Shutterstock

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Crypto Prices surged Wednesday as improving liquidity conditions triggered broad gains across digital assets. Bitcoin crossed $68,000, while Ethereum reclaimed the $2,000 level during United States trading. 

Meanwhile, the Treasury bond buybacks were a boost to risk appetite, following a recent spike in the long bond’s interest rate to multiyear highs. The move was fueled by hefty short liquidation. There was also regulatory optimism and the inflow of cryptocurrency ETFs that offered much-needed support in the recovering crypto market.

Crypto Prices Surge as Treasury Buybacks Boost Risk Appetite Treasury Secretary Scott Bessent doubled planned bond buybacks, easing concerns surrounding liquidity within the enormous United States government debt market. 

Investors saw the move as a potential financial insurance policy and it boosted fresh interest in cryptocurrencies and other risk assets. The 30-year Treasury yield then eased back from a 19-year high to 5.187%, buoying confidence throughout speculative markets.

The precious metals also surged higher in the liquidity-driven move, as well. Gold rose by 3.08% and $934 billion, and silver rose by 3.86% and $136 billion.

$1.2 trillion has been added to precious metals and crypto in the last 3 hours.

Gold up +3.08%, adding $934 billion.
Silver up +3.86%, adding $136 billion.
Bitcoin up +8.14%, adding $103 billion.
Ethereum up +9.66%, adding $22 billion.

This comes as the Treasury announced it… pic.twitter.com/3P02115yc6

— Bull Theory (@BullTheoryio) August 19, 2026

Bitcoin Price Breaks $68,000 as Short Liquidations Accelerate Bitcoin price surged to $68,418, which was a 8% rise from the previous day as bearish leveraged positions were swiftly unwound. Ethereum rose to $2,081, up 8.4%, and Solana, XRP, BNB, Hyperliquid and Dogecoin all saw gains, too. TRON was an exception, having declined 0.19% to $0.3334 despite the broader market recovery.

Coin360 data Crypto-related stocks also took part in the rally, with Coinbase rising 11% on sentiment gains. The recovery wasn’t limited to tokens: gains were seen across mining and trading firms.

According to CoinGlass, roughly $1.23 billion worth of short positions were liquidated, with a total of $1.31 billion across all liquidations done in the span of one hour. 

Bitcoin Rises Above $68,000 as Crypto Liquidations Reach $1.31 Billion in One Hour

Binance market data shows that BTC rose above $68,000 to $68,418, up 5.47% over the past 24 hours. ETH rose above $2,000 to $2,081, up 8.4%.

CoinGlass data shows that approximately $1.31 billion… pic.twitter.com/izlFXwcuYr

— Wu Blockchain (@WuBlockchain) August 19, 2026

Around $1.57 billion of liquidations were settled every day, of which $1.41 billion were shorts. Around 114,038 traders were liquidated, while Bitget recorded the largest order at $32.18 million on its ETHUSDT perpetual contract.

Ethereum open interest rose from $11.7 billion to $13 billion, only to settle down toward $12.5 billion. That move indicated traders were ramping up leveraged exposure ahead of the short covering, which added fuel to the rally.

White House Meeting Lifts Clarity Act and Tokenization Hopes Political developments were also a catalyst following a private meeting at the White House between President Donald Trump and regulators and cryptocurrency executives. The parties discussed developments in the Clarity Act and tokenization, and look forward to the United States getting some more clarity on the rules.

The industry representatives were joined by SEC Chairman Paul Atkins, CFTC Chairman Mike Selig and other key financial infrastructure industry leaders. 

The involvement of Nasdaq, NYSE, CME Group and DTCC was an indicator of the increasing institutional interest in blockchain-based markets and settlement systems.

Bitcoin and Ethereum ETF Inflows Support the Market Rally Spot Bitcoin ETFs attracted $189 million in net inflows on August 18, according to SoSoValue data. Spot Ethereum ETFs received $71.468 million, with BlackRock’s ETHA contributing $64.6814 million.

According to SoSoValue, spot Bitcoin ETFs recorded $189 million in net inflows on August 18 (ET). Hashdex’s DEFI spot Bitcoin ETF has begun liquidation due to factors including assets under management, trading liquidity, and operating costs. It ceased trading on NYSE Arca on… pic.twitter.com/y8Ub9uNgGb

— Wu Blockchain (@WuBlockchain) August 19, 2026

Those inflows suggested that institutional appetite was still high prior to Wednesday’s sudden rally.

Ethereum price climbed above $2,000 on Wednesday, reaching that level for the first time since June 2. 

The breakout strengthened a wider cryptocurrency rally led by Bitcoin, which briefly approached $70,000 during heavy trading. 

Sentiment was also underpinned by the plan of the United States Treasury to increase long-term debt buybacks. The proposal was seen by investors as a liquidity shot to Bitcoin and other risk assets.

The enhancement of liquidity expectations and large-scale short liquidations contributed to an increase in gains in significant digital assets.

Ethereum Price Reclaims $2,000 After Two Months ETH price has been up by 8% in 24 hours and it is trading at an approximate of $2,080 passing the barrier. The token hit an intra-day peak of $2,089 after dipping to $1,905 earlier in the session.

The migration expanded on the recovery of Ethereum in August after two hard quarters. ETH has advanced 31.1% during the third quarter, surpassing its 25.3% decline during the second quarter.

📈 Ethereum Breaks $2,000 for the First Time This Summer@Ethereum has broken above the $2,000 mark for the first time since June 2, extending its recovery after a difficult first half of the year. So far, $ETH is up 31.1% in Q3, already exceeding the −25.3% decline recorded in… pic.twitter.com/1iPLEx7fe7

— CryptoRank.io (@CryptoRank_io) August 19, 2026

That performance sets Ethereum on its first positive quarter of 2026. Nonetheless, maintaining the price above $2,000 is significant to maintain the momentum and aid in another step forward.

Bitcoin Price Surge and Short Liquidations Drive Market Rally Bitcoin price surged past $68,000 and then peaked at $69,700, its first peak in over two months. The cryptocurrency gained $4,400 within 50 minutes as traders rushed to cover bearish positions.

According to CoinGlass data, about 1.31 billion cryptocurrency positions were sold in just an hour. Short positions were a reflection of $1.23 billion of that, which underscores the squeezy nature of the rally.

Source: Coinglass The liquidations amounted to approximately 1.57 billion, comprising 1.41 short positions, over a 24-hour period. Approximately 114,038 traders were liquidated in the move.

The largest single liquidation involved a $32.18 million ETHUSDT perpetual position on Bitget. Solana, BNB, Dogecoin, and Cardano gained ground as the cryptocurrency market optimism increased.

Ethereum Open Interest Jumps as Traders Eye Further Gains The open interest in Ethereum derivatives surged by almost 10% in less than 24 hours, marking positioning by leveraged traders. Increasing open interest may enhance the carrying power in cases where demand is sustained, but also increase liquidation risks in cases of reversals.

Ethereum must establish support above $2,000 to keep the recovery intact. Further ETF flows and the expansion of strength in the market may stimulate efforts to reach higher resistance areas.

Spot Ethereum exchange-traded funds have also registered inflows of $71.47 million daily. Their total assets hit 10.83 billion, with institutional demand supporting the price break.

Will Rally Continue? The rally has propelled ETH to surpass resistance of $1,960, $2,000, and $2,050 in one candle.

The price, however, met with immediate opposition just above $2,100, after briefly touching an intraday high of 2,103.

The Relative Strength Index increased to 87.41, and Ethereum was well within overbought territory.

Source: TradingView The Chaikin Money Flow was 0.62, which means high levels of capital inflows and resilient demand behind the breakout.

A four-hour close above $2,100 could open the path toward $2,120 and $2,160. Continued momentum beyond $2,160 may allow full ETH forecast report to challenge the psychologically important $2,200 level.

Notably, however, a rejection below $ 2,100 may push Ethereum to first support at $2,050.  Further pullback can challenge the $2,000 mark before the previous resistance at $1,960 level.

COINBASE: Ethereum Validator Performance Report Q2 2026

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%.

4 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.

4 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.

4 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.

4 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).

4 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.

4 minutes ago

ETH Takes the Lead as Both Assets Build on Wednesday's GainsEthereum ($ETH) posted a 15.38% gain, outpacing Bitcoin ($BTC) as both cryptocurrencies extended a sharp rally that began on Wednesday. $ETH traded at $2,206.65, giving it a market cap of $266.3 billion. Its 24-hour trading volume surged 205.28% to $21.15 billion, a sign of strong participation behind the move.

$BTC rose 6.98% to $69,074.87, with volume up 101.65% to $38.77 billion. Both volume figures reflected a significant pickup in market activity, with $ETH's volume more than tripling on the day.

The scale of the moves is easier to appreciate when set against where prices stood 24 hours earlier. Ether was trading near $1,913 and Bitcoin near $64,620 before the rally took hold. Yahoo Finance data shows Bitcoin opened at $64,602.32 and Ethereum at $1,906.96 earlier in the week, consistent with those prior levels.

Ether Extends Its Seven-Day Lead Over BitcoinThe outperformance is not limited to a single session. Over the past seven days, $ETH is up 17.24% compared to 8.94% for $BTC, a gap that underlines a shift in near-term momentum toward Ethereum.

Institutional demand has played a role, with spot Ether ETFs recording notable inflows and short covering adding to the advance. The move also builds on a broader recovery sparked by a weaker-than-expected jobs report, which cooled expectations for further interest rate increases, a dynamic that tends to favour risk assets like $ETH.

Separately, Bitcoin and Ethereum prices have also responded positively to the SEC's announcement of proposed crypto regulation, which includes a framework for crypto companies to raise capital and defines two registration requirement exemptions for crypto-related investment contracts, steps that would benefit mature networks like both assets.

U.S. spot Ether ETFs collectively hold about $13.7 billion in assets under management , providing an institutional base that has helped support $ETH through recent volatility.

Sources:
Yahoo Finance: Bitcoin and Ethereum prices today, August 19, 2026
TheStreet: Ethereum price today, August 12, 2026

Tokenized equities have been a recurring promise in crypto for years, the idea being that anyone with a wallet should be able to buy fractional Apple shares at 2 a.m. on a Sunday. xStocks appears to be one of the first platforms to make that feel real, and the numbers are beginning to reflect it.

Since launching on the Solana blockchain on June 30, 2025, xStocks has accumulated an estimated $186 million in assets under management and processed more than $25 billion in cumulative transaction volume.

How xStocks actually works Each token on xStocks is backed 1:1 by a corresponding U.S. equity or ETF held in regulated custody. So when someone buys AAPLx, they are not buying a derivative or a synthetic approximation. They are buying a digital claim on a real Apple share sitting in a custodial account.

The tokens exist primarily as SPL tokens on Solana, which keeps transaction costs low and settlement fast. The platform now lists more than 100 tokenized stocks and ETFs, covering names like NVIDIA (NVDAx) alongside the broader index-style products retail investors tend to favor.

Traditional equity markets operate roughly six and a half hours a day, five days a week. xStocks trades around the clock, every day, and supports fractional ownership.

Because the tokens live natively on-chain, they can also participate in DeFi protocols. That means holders can theoretically use their tokenized Apple shares as collateral in a lending protocol or deploy them into liquidity pools.

The Ethereum outlier: STRCx Most of the xStocks ecosystem runs on Solana, but the platform’s single largest token by market capitalization lives somewhere else entirely. STRCx, which tracks the Strategy PP Variable stock, operates as an ERC-20 token on Ethereum and has reached a market cap of approximately $135 million.

Strategy, formerly known as MicroStrategy, is itself one of the most Bitcoin-correlated equities in traditional finance. Its stock tends to trade at a premium or discount to its Bitcoin holdings depending on market sentiment, which makes it an interesting instrument for crypto-native investors who want equity exposure without leaving the on-chain world.

What this signals for tokenized equities broadly The $25 billion in cumulative transaction volume is the number that deserves the most scrutiny. Volume can be inflated by wash trading or high-frequency activity that does not represent genuine economic interest. Without a detailed breakdown, it is not possible to assess how much of that reflects organic demand. What the $186 million AUM figure does is provide a harder anchor: that is capital sitting in tokenized positions, not just passing through.

Projects like Backed Finance and Ondo Finance have pursued similar territory, and traditional finance players including some major brokerages have explored on-chain equity wrappers.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Ethereum price today: $2,250Ethereum has rallied roughly 18%, triggering over $1.11 billion in liquidations.The rally follows the US Treasury doubling its debt buyback operations, coupled with President Trump's bullish crypto remarks.ETH has broken above all its immediate EMA barriers.Ethereum (ETH) has gained nearly 18% on Wednesday, sparking heavy short liquidations after weeks of sideways price action.

The top altcoin saw over $1.11 billion in liquidations over the past 24 hours, driven by $1.02 billion in short liquidations, according to Coinglass data. Nearly half of that figure came in under an hour.

The move aligns with that of the broader crypto market, where short liquidations have climbed above $2.49 billion, the highest recorded single-day short squeeze event in crypto market history.

The liquidations came after the US Treasury decided to double buyback operations for long-dated bonds to $4 billion, prompting a positive sentiment across risk assets.

Additionally, President Donald Trump noted in a meeting with tech executives at the White House that the US is ensuring it remains the "undisputed" leader in crypto. He added that the government is considering buying "sizable" amounts of Bitcoin (BTC) and other cryptocurrencies.

The President also referenced the Clarity Act, stating that Congress needs to pass the bill to keep the US ahead of China in crypto.

ETH on-chain cost basis could limit upsideAfter nearly a month of quietness, when ETH ranged roughly between $1,800 and $1,950, the top altcoin briefly flipped $2,300, its Realized Price, which represents investors' average on-chain cost basis.

ETH Realized Price. Source: CryptoQuantHistorically, this level has often acted as key resistance, as a few investors exert selling pressure as they near break-even prices after a long period of bearish conditions.

ETH often sees notable rallies after it overcomes this supply barrier and holds the Realized Price as support.

Meanwhile, markets often face a brief correction after such intense short squeezes. Historically, demand often cools after short sellers finish covering their positions. In addition, profit-taking from long investors looking to lock in gains can weigh on the market.

In such cases, strong spot demand across crypto-native venues and exchange-traded funds (ETFs) is needed to sustain bullish pressure.

Ethereum technical analysis: ETH surges above key EMAs, eyes $2,431On the daily chart, ETH is extending a strong bullish phase after breaking well above its key Exponential Moving Averages (EMAs). The 20-, 50-, and 100-day EMAs at $1,886 to $1,925 sit comfortably below price, suggesting a firmly supported uptrend.

Momentum is stretched, with the 14-day Relative Strength Index (RSI) near 82 and the Stochastic Oscillator (Stoch) above 87, suggesting overbought conditions that could slow the advance even as the broader bias remains upward.

On the downside, initial demand appears around $2,163, ahead of a firmer support cluster between the horizontal level at $1,961 and the EMA band in the $1,925 - $1,886 area, which should underpin corrective pullbacks. Deeper supports emerge at $1,809, $1,701 and $1,507 if profit-taking accelerates.

ETH/USDT daily chartOn the topside, the next notable resistance is the horizontal barrier at $2,431, where buyers may face a first serious test of the rally.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

THE BLOCK: Ethereum engineering firm Nethermind leaves LayerZero verifier role for Chainlink

Bitcoin (BTC) jumped 5.8% to levels above $69,500 on Wednesday, wiping out $1.23 billion in bets against it in one hour. Is the crypto bull market back?

The rally ran market-wide, with Ethereum (ETH) up 9% to $2,088, Solana (SOL) up 6.5%, and XRP (XRP) up 6.9%. One decision in Washington set it off.

Crypto Market Explodes Wednesday. Source: CoinGeckoA $4 Billion Signal From the US TreasuryThe US Treasury said it will double its buybacks of long-term government bonds to at least $4 billion per operation. In plain terms, the government stepped in as a buyer of its own debt.

The timing couldn’t be better for risk assets. The 30-year yield, the interest rate the US pays on its longest debt, had just hit 5.337%. That was its highest level since 2007. The Treasury buyback announcement knocked it back to 5.192%.

Markets read the move as proof that Treasury Secretary Scott Bessent is watching borrowing costs. When yields fall, bonds pay less, and money hunts for returns elsewhere. Bitcoin sits near the front of that line.

$1.2 trillion has been added to precious metals and crypto in the last 3 hours.

Gold up +3.08%, adding $934 billion.
Silver up +3.86%, adding $136 billion.
Bitcoin up +8.14%, adding $103 billion.
Ethereum up +9.66%, adding $22 billion.

This comes as the Treasury announced it… pic.twitter.com/3P02115yc6

— Bull Theory (@BullTheoryio) August 19, 2026
Sentiment followed. The Crypto Fear and Greed Index moved to 46 on Wednesday, steadily approaching the neutral zone after sitting lower last week.

Crypto Fear and Greed Index. Source: Alternative.meHow $1.23 Billion in Short Bets Vanished in One HourTraders who bet on falling prices, known as shorts, paid dearly. Roughly $1.23 billion of those bets were closed out at a loss within an hour.

Across 24 hours, the billion-dollar short liquidations reached $1.57 billion and hit more than 114,000 traders. Three large wallets on Hyperliquid lost a combined $194 million alone.

Here is why that fuels a rally. When a short bet fails, the exchange buys the asset back at market price. Every forced buy pushes the price higher, which wipes out more shorts. The squeeze feeds itself.

Analyst Michaël van de Poppe argued that the Treasury decision changes the market’s trajectory.

“This is a great announcement and is a great trigger for the markets. #Bitcoin in a bull market, the likelihood of this has increased,” he shared in a post.

Follow us on X to get the latest news as it happens

The daily chart carries a warning in itself. Wednesday’s candle ran straight into a fair value gap (FVG), a zone the price crashed through in early June too fast for normal two-way trading. Think of it as a pothole the market skipped on the way down.

Price tends to revisit these zones to fill the imbalance before picking a direction. This gap sits between roughly $67,516 and $70,686. Bitcoin tagged it on Wednesday, reaching an intraday high of $69,500 as of this writing, before easing to $67,996 at press time.

Bitcoin Fair Value Gap (FVG). Source: TradingViewThe gap’s midline near $69,110, known as the mean threshold (ME), is the tiebreaker. A daily candle close above it would suggest the rally has further to run.

A rejection would mean the gap has done its job. The inefficiency is filled, and the broader downtrend could resume.

The volume profiles (black for bears and green for bulls) show where traders are positioned on the vertical axis. Based on the chart, more bulls than bears are waiting to interact with BTC price above the gap’s midline, lending credence to the need for the price to close above it.

Such a move could propagate further upside, with the Bitcoin price likely to reach $72,000, almost 6% above current levels.

However, with bears (black horizontal bars) still hovering below the mean threshold, price could remain subdued below $69,000.

Bull Market Signal or Temporary Swing?The skeptics have numbers too. Bitcoin’s price action still sits roughly 46% below its October 2025 record of $126,080.

Bitcoin Price Outlook. Source: BeInCrypto
“History suggests Bitcoin is approaching a resistance area it won’t be able to breach at this very moment in the market cycle,” analyst Rekt Capital cautioned, suggesting charts still favor sellers.

Borrowed money adds another worry. Bitcoin’s funding rate warning flashed this week after the metric hit a 20-month high. That means traders are paying steep fees to keep betting on higher prices.

Similar readings preceded past pullbacks. Analyst Benjamin Cowen still places Bitcoin’s cycle bottom 69 to 73 days away.

The bulls answer with demand. CryptoQuant data showed Bitcoin demand growing again on a 30-day basis for the first time in months. That suggests real buying, not just forced buying.

Spot and Futures Demand

“Spot and perpetual futures demand growth have both crossed back above zero on the 30-day sum. It is the first time in months that the two are positive at the same time.” – By @RugaResearch

Complete breakdown ⤵️https://t.co/SuCyK3B6mB

— CryptoQuant.com (@cryptoquant_com) August 19, 2026
The next test is clear. Traders want bulls to defend the $65,000 to $67,000 zone and close a daily candle above $69,110 on Wednesday.

Federal Reserve minutes from the July meeting, due today, could decide which side gets its answer first.

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.

1 hours ago

Surge in Trump's Crypto Wealth Sparks Controversy; White House Meets Industry Giants to Push for Regulatory Reform

U.S. President Trump met with executives from crypto firms including Coinbase, Kraken, Ripple, and Chainlink at the White House on Wednesday, urging Congress to pass the CLARITY Act. However, the meeting also renewed outside scrutiny over Trump and his family’s massive wealth derived from the crypto industry. According to financial disclosure documents, Trump earned over $1.4 billion in 2025 from crypto-related businesses, including his personal token project, the family’s crypto venture World Liberty Financial (WLF), and stablecoin-related transactions. This income exceeds the total earnings from his traditional real estate and licensing businesses. During the White House meeting, Trump stated that the CLARITY Act would help the U.S. establish a clearer regulatory framework for digital assets and maintain its leadership in crypto innovation, calling the bill a "gateway to the next wave of innovation." However, while Trump advances crypto-friendly policies, his growing personal wealth has drawn scrutiny from Democratic lawmakers and some regulators. Critics argue there is a potential conflict of interest between the Trump family’s crypto business interests and the government’s rulemaking for the sector; the White House has denied the allegations, stating Trump’s policy goal is to position the U.S. as a global crypto hub. During the meeting, Trump also said U.S. regulators are working to bring decentralized perpetual contract trading platform Hyperliquid to the U.S. market in a "fully compliant" manner.

1 hours ago

Trump again criticizes the Federal Reserve's high interest rate policy, saying the US should bear lower financing costs.

US President Donald Trump once again criticized the Federal Reserve’s interest rate policy on Wednesday, stating that amid positive economic data, the central bank should not block interest rate cuts, and that the US should pay “much lower” interest rates. Trump said Federal Reserve Chair Kevin Warsh is “doing a good job,” but criticized the Federal Reserve Board for having “political factors,” noting that some members were appointed by Obama, Biden, and himself, and may support keeping rates high for political reasons. He added that in the past, improving economic data typically led to lower interest rates, but now “the better the data, the higher the rates instead.” Trump argued that interest rate cuts would not only boost economic growth, but also reduce financing pressure on the US’s nearly $40 trillion debt. However, the Federal Reserve has not raised rates since 2023, and launched a rate-cut cycle in the second half of 2025, cutting rates six times in total. The minutes of the Fed’s July meeting showed that most officials believe that if inflation fails to cool further, it may still be necessary to maintain high rates in the future. Trump also complained that US interest rates are higher than those of some overseas economies, citing Switzerland’s benchmark rate of around 0.5% as an example, calling the US’s current rate of about 3.5% “unreasonable.” On the same day, the US Treasury Department announced an expansion of its long-term Treasury bond repurchase operations, at least doubling the scale of its 10-year to 30-year Treasury bond repurchases from $2 billion per operation to $4 billion, to boost liquidity in the long-term bond market. Markets view the move as helpful in easing recent upward pressure on US Treasury yields.

1 hours ago

US crypto-related stocks surged collectively, with Strategy gaining nearly 12% and Coinbase rising 9%.

As Bitcoin approaches $70,000, crypto-related stocks notched their largest single-day gain since summer on Wednesday, with major players including Strategy (MSTR), Coinbase (COIN), Circle (CRCL), and BitMine (BMNR) rallying sharply. Bitcoin reserve firm Strategy’s stock rose 11.95% to $103.58, surging over 13% at one point during the session. Crypto exchange Coinbase gained 9.05% to $159.47; stablecoin issuer Circle climbed 9.44% to $78.50; and Ethereum reserve firm BitMine jumped 9.68% to $20.05. The rally was primarily driven by Bitcoin’s short-covering squeeze. As Bitcoin pushed toward $70,000, numerous bearish positions were forced to liquidate, leading to nearly $2 billion in crypto market liquidations over the past 24 hours. Additionally, the U.S. Treasury expanded its long-term Treasury repurchase operations, improving market liquidity expectations and spurring broad gains in risk assets. Stocks like Strategy and Coinbase were also boosted by short covering: both firms had previously ranked among Wall Street’s most heavily shorted stocks, and as share prices rebounded rapidly, some short sellers were forced to buy to close positions, further amplifying gains. Strategy currently holds around 840,000 Bitcoin, with its stock price highly correlated to BTC’s value. BitMine, meanwhile, holds approximately 5.82 million ETH, making it one of the publicly listed companies with the closest pure exposure to Ethereum. However, despite the sharp rebound, Strategy, Coinbase, and BitMine are still down year-to-date. The market is now closely watching whether Bitcoin can break through and hold the $70,000 resistance level to determine if this rally marks a trend reversal or a short-term short squeeze.

1 hours ago

HYPE surges more than 22% in 24 hours; Trump says US SEC Chair is pushing Hyperliquid to enter the U.S. in a compliant manner.

Per HTX market data, HYPE has jumped over 22% in the past 24 hours, currently trading at $71.94. On the news front, US President Donald Trump stated that SEC Chair is working to advance Hyperliquid’s entry into the US market. Trump noted that relevant efforts are ongoing, with the goal of enabling Hyperliquid to operate under the US regulatory framework. No specific implementation plan or timeline has been disclosed yet. Earlier, Hyperliquid representatives discussed digital asset regulatory issues with the US SEC Crypto Assets Working Group, covering Hyperliquid’s ecosystem, technical architecture, and market regulatory pathways.

1 hours ago

Trump: The "war" on cryptocurrencies has been completely ended, and the United States is leading the industry's development.

U.S. President Donald Trump said during a meeting with tech and innovation leaders at the White House that the U.S. has "completely ended its war on the crypto industry" and that the crypto market is developing rapidly. "The crypto industry is booming and performing extremely strongly—no one can stop it," he stated. He also noted that China aims to enter the crypto space and gain a leading position, but has not yet succeeded. Trump has repeatedly emphasized that the U.S. needs to maintain global leadership in emerging technologies such as Bitcoin, cryptocurrencies, and artificial intelligence, and push for the establishment of a clearer regulatory framework for digital assets. At a recent White House crypto industry meeting, Trump also urged Congress to pass the Clarity Act to set clearer regulatory rules for the digital asset market, saying the U.S. needs to use policy support to attract crypto companies to stay and develop domestically.

1 hours ago

Ethereum (ETH) Stalls Near $1.9K: What Could Push It to $2K?

Ethereum moved higher on Wednesday, displaying resilience after a lackluster start to the week. Prices traded in positive territory over the previous 24 hours, despite market data pointing to hesitation among larger investors and derivatives traders about initiating significant new positions.

Stability in major wallet holdingsLarge Ethereum wallets, which typically exert considerable influence over market dynamics, showed only minor portfolio adjustments. Net flows to and from cryptocurrency exchanges remained almost unchanged, reflecting limited decisive activity from both buyers and sellers.

US-based spot Ethereum Exchange-Traded Funds (ETFs) recorded improvements at the week’s outset, with Monday and Tuesday net inflows reaching $30.85 million and $71.47 million, respectively. This uptick in institutional purchases signaled some renewed interest, though broader American investor sentiment appeared to remain muted.

From a technical outlook, Ethereum’s price maintained a slightly bullish short-term stance, trading above its 20-day and 50-day Exponential Moving Averages (EMAs). However, the 100-day EMA and horizontal resistance at $1,961 continued to restrict further upward momentum.

Technical LevelValue ($)Market Implication20-day EMA1,870Immediate support50-day EMA1,889Immediate support100-day EMA1,961ResistanceHorizontal resistance1,961Obstacle for ralliesStructural resistance2,172Potential breakout targetHorizontal support1,809Downside protectionMajor downside level1,507Critical if selling acceleratesWhale activity shows limited accumulationEthereum wallets holding between 10,000 and 100,000 coins — typically referred to as whales — saw net inflows of about 10,000 ETH over the previous week. This modest increase suggests large investors are not making major new commitments.

Addresses containing between 100 and 1,000 ETH, as well as those with 1,000 to 10,000 ETH, together distributed roughly 50,000 ETH. The restrained movement across key wallet groups indicated that pivotal market players continue to exhibit caution.

Analysts note that strong accumulation by whales often supports lasting price recoveries, whereas persistent distribution can pressure prices lower. At present, whale activity appears neutral, failing to clearly favor buyers or sellers.

Recent ETF inflows point to a gradual return of institutional demand, but this level remains below the selling pressure observed during the first half of the year. Furthermore, whale accumulation remains subdued, tempering the impact of positive developments.

Mini dictionary: Exponential Moving Average (EMA), a technical analysis indicator that gives more weight to recent price data and is commonly used to identify market trends and support or resistance levels.

Key technical signals and potential scenariosEthereum’s four-hour trading chart on the ETH/USD pair has retained a bullish structure, despite the market’s recent consolidation. The Relative Strength Index (RSI) currently stands at 59, which indicates reasonable upward momentum while remaining below overbought levels.

The Stochastic Oscillator, a momentum indicator that compares a security’s closing price to its price range over a specific period, is near 73. While this suggests upside momentum, the reading is nearing what many analysts would consider a moderately overbought zone, possibly limiting the scope for further immediate gains unless new buyers enter the market.

Mini dictionary: Stochastic Oscillator, a technical indicator used to assess momentum by comparing a particular closing price with a range of prices over a certain period.

The first notable resistance for Ethereum lies at $1,961, coinciding with the 100-day EMA. A clear move above this level is viewed as a potential catalyst for a further rally, targeting the next structural resistance at $2,172. Should the upward trend extend, $2,431 could be the subsequent target for bulls.

Conversely, the 20-day and 50-day EMAs provide immediate support between $1,870 and $1,889. If prices close below this range, sentiment could deteriorate, exposing levels at $1,809 and, with heavier selling, possibly as low as $1,507.

Technical momentum remains constructive, but Ethereum’s next move likely depends on whether institutional inflows accelerate and large holders shift from a cautious stance to more aggressive accumulation.

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.

Tom Lee Takes On Michael Burry As $3 Trillion Enron Warning Hangs on AI Trade

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The Ethereum Foundation’s Ecosystem Support Program has published its Q2 2026 allocation update, reporting total awards of $5,502,930.20 across projects connected to Ethereum protocol work, security, zero-knowledge research and developer tooling.

The Aug. 18 update describes the allocations as part of a continued focus on Ethereum resilience and capabilities. It does not present the figure as a token grant or a change to Ethereum’s protocol economics; it is an Ecosystem Support Program funding report.

Client and protocol work featured Among the listed efforts are work involving consensus clients, testing infrastructure, protocol security and research connected to the planned Glamsterdam upgrade. The report names projects tied to Lodestar, Lighthouse and Geth-related work, alongside formal-verification and cryptography initiatives.

The update also lists projects intended to improve client diversity and test tooling. Those areas are operationally important because Ethereum depends on multiple independent software implementations rather than one client codebase.

ZK, security and application tooling The allocation list includes several zero-knowledge proof initiatives, including work on block-proving infrastructure, zkVM research and verification tools. It also includes security-oriented projects such as smart-contract tooling and efforts to analyze execution and consensus-layer client risks.

Other entries cover application infrastructure, wallet work and open-source developer tools. The Foundation said the quarter’s funding supported builders strengthening the network, while individual project descriptions outline the stated purpose of each allocation.

What the report does and does not show The release provides an itemized funding snapshot rather than a forecast of protocol delivery dates or a guarantee that each project will reach production. Readers should distinguish between an allocation, a project’s stated scope and a completed implementation.

The full report includes the named projects and descriptions supplied by the Ethereum Foundation. It is the primary source for the total awarded figure and the Foundation’s characterization of the Q2 program.

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Crypto investors may be underestimating how large the industry’s next growth phase could become since market perception has failed to keep pace with reality, according to Bitwise’s Matt Hougan.

In his Aug. 18 weekly CIO memo, Bitwise’s Chief Investment Officer highlighted three mistakes investors are currently making.

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Hougan’s first argument is that investors continue to value decentralized applications such as Uniswap (CRYPTO: UNI), Hyperliquid as measured by Hyperliquid Strategies Inc (NASDAQ:PURR), Aave (CRYPTO: AAVE) and Chainlink (CRYPTO: LINK) as if they are confined to the roughly $2 trillion crypto market.

That could dramatically understate their eventual addressable market if stocks, bonds, real estate and other financial assets increasingly move on chain.

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Hougan pointed to roughly $150 trillion in global equities and $350 trillion in bonds, arguing that platforms currently associated with crypto trading and lending could eventually serve markets orders of magnitude larger.

He compared the mistake to viewing Amazon solely as an online bookstore during its early years.

“It’s widely accepted now that tokenization is going to eat every kind of asset you can imagine,” Hougan wrote. Investors have yet to fully incorporate that shift into valuations of the platforms facilitating those transactions.

Can Wall Street Crush Crypto Natives?Hougan’s second warning is against assuming TradFi giants will automatically dominate crypto-native businesses once they enter the market.

He cited stablecoins as one example.

Despite PayPal (NASDAQ:PYPL) launching its own stablecoin in 2023, Hougan said Tether (CRYPTO: USDT) and Circle (NYSE:CRCL) still control roughly 88% of the market, while PayPal holds around 1%.

The same dynamic has appeared elsewhere. Fidelity entered crypto custody years ago, yet Coinbase (NASDAQ:COIN) remains the largest U.S. crypto custodian.

Meanwhile, CME’s crypto derivatives activity remains smaller than offshore perpetual-futures markets.

Hougan argues crypto-native firms benefit from being focused entirely on the sector, moving faster and already having established users and trust.

There are exceptions. BlackRock (NYSE:BLK) has become the dominant player in spot Bitcoin ETFs.

TradFi firms tend to win with TradFi products, while crypto-native companies have remained surprisingly resilient in crypto-native markets.

Is AI The Trigger For 10x Blockchain Transactions?The third mistake, according to Hougan, is extrapolating future blockchain activity from today’s transaction volumes.

Tokenized equities could eventually trade 24 hours a day, seven days a week, compared with the roughly 33 hours per week available during traditional U.S. stock-market hours.

AI agents could magnify that shift further by continuously monitoring portfolios, executing trades and making payments without requiring humans to initiate every transaction.

Hougan said a 10x increase in stock transactions in such an environment would not be difficult to imagine, while 50x or even 100x growth could become possible.

That matters because many blockchains and decentralized applications generate revenue from transaction activity. Even if individual transaction fees decline, Hougan argues dramatically higher volumes could more than compensate.

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