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Bitcoin soared to $72,000 after Trump's major announcement

2026-08-21 00:40:04
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The U.S. Treasury Department announced on August 19 that it would at least double the repurchase of long-term government bonds, a move that will increase market liquidity. Since then, the cryptocurrency market has begun to rebound strongly.

On August 20, Bitcoin exceeded the US$72,000 mark for the first time since June 1. As of press time, it was trading at US$71,945.58, up 11% in 24 hours.

Ethereum traded at US$2,292.23, up 19% in 24 hours. Ripple also rose 19% in 24 hours, trading at $1.19.

Data from online analysis platform CoinGlass showed that short positions in cryptocurrencies worth US$2.73 billion were cleared on August 19, while long positions were only US$248.1 million were cleared that day. In short, a total of $2.97 billion worth of cryptocurrency positions were cleared yesterday.

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