On Aug. 20, Bitcoin (BTC) surpassed the $72,000 price mark for the first time since June 1 after two major announcements yesterday. First, the U.S. Treasury announced it is at least doubling
After the U.S. Treasury announced on Aug. 19 it is at least doubling the amount of longer-term government bond buybacks which will increase market liquidity, the crypto market began to aggressively rally.
On Aug. 20, Bitcoin (BTC) surpassed the $72,000 price mark for the first time since June 1. It was trading at $71,945.58 at press time, up 11% in 24 hours.
Ethereum (ETH) was trading at $2,292.23, up 19% in 24 hours. XRP also rose 19% in 24 hours to trade at $1.19.
As per the onchain analysis platform CoinGlass, crypto shorts worth $2.73 billion got wiped out on Aug. 19. In contrast, longs worth only $248.10 million got liquidated on the day. In short, crypto positions worth $2.97 billion got wiped out yesterday.
Note: This is a developing story. Please keep refreshing for latest updates.
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