Quick Read – Bitcoin surged 20% in under 48 hours as $3.3 billion in forced short liquidations drove bears to buy, not genuine investor demand. – Short liquidations dropped 60% in 24 hours, leaving spot Bitcoin ETFs to sustain the move.
Those ETFs had pulled $606 million on Thursday. – Trump urged Congress to pass the Digital Asset Market Clarity Act, with a Senate vote set for Sept. 15 adding regulatory tailwind. – Bitcoin (CRYPTO:BTC) has gone from a market dominated by hesitation to one dominated by forced buying in less than 48 hours
After spending roughly six weeks trapped in a narrow trading range, Bitcoin jumped from about $64,500 on Wednesday to around $77,050 today — a gain of roughly 20%. The move was not driven by one giant wave of new investors. It began with a macroeconomic catalyst and was then turbocharged by one of crypto’s most powerful mechanisms: a short squeeze.
The question now is whether genuine spot demand can keep the rally alive after leveraged bears have largely been cleared out. Treasury Liquidity Lit The Fuse U.S. Treasury announced plans to double the maximum size of certain long-dated bond buyback operations to $4 billion, a move intended to improve Treasury-market liquidity.