Bitcoin surged past the $75,000 mark on Aug. 21, 2026, reaching its highest level since April and extending a four-day gain of roughly 20%. According to The Block’s price data, BTC traded around $75,560, up more than 8.9% in 24 hours.
The rally followed the U.S. Treasury Department’s announcement that it would at least double liquidity support buyback operations for longer-dated nominal coupon securities in the 10- to 30-year segment. Falling Treasury yields helped drive heavy Bitcoin ETF trading, while crypto volatility climbed and Ether reached a three-month high of $2,272.
The political and regulatory backdrop added fuel. President Donald Trump pushed Congress to pass the Clarity Act and hinted at regulating Hyperliquid, sending HYPE up about 25%. The SEC’s latest crypto proposal and a White House meeting with prominent crypto executives were also cited as positive catalysts. Crypto-linked stocks rallied, with Coinbase, Strategy, Canaan, Circle and Robinhood all higher.
Short sellers were hit hard. More than $2.75 billion in Bitcoin shorts were liquidated on Wednesday, and Coinglass data showed another $783.2 million in Bitcoin positions liquidated over the past 24 hours, including $747.7 million in shorts.
Some analysts urged caution. Shawn Young, chief analyst at MEXC Research, called the rally “premature,” saying crypto is giving the Treasury’s intervention “far more credit than it deserves.” Dominick John of Zeus Research said the short wipeout can keep pushing prices higher near term, but the real test is whether fresh spot demand and macro fundamentals sustain the move. John pointed to potential passage of the Clarity Act in September as a major catalyst. The Bitcoin Fear & Greed Index climbed to 62, its highest since October 2025 and firmly in Greed territory.
