Bitcoin rose 2.68% to $77,271.75 in 24 hours as improved U.S. liquidity and supportive crypto regulation boosted market sentiment. The move was amplified by a short squeeze, with more than $1.2 billion in Bitcoin short positions liquidated as traders were forced to cover losses. U.S. spot Bitcoin ETFs added another $606.29 million on August 20, extending the inflow streak and providing additional buying pressure. Bitcoin now faces key support at $75,000, while holding that level could keep the recovery on track toward $79,463.
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