Crypto
Bitcoin Price Soars 2.68% on Improved Liquidity and Regulation
Bitcoin's price surged by 2.68% to $77,271.75 in just 24 hours due to improved U.S. liquidity and supportive crypto regulation.
The market sentiment received a significant boost from these developments, leading to a short squeeze that saw more than $1.2 billion in Bitcoin short positions liquidated as traders were forced to cover losses.
This increase in price was also fueled by the introduction of U.S. spot Bitcoin ETFs, which added another $606.29 million on August 20, further contributing to the market's upward momentum.