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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
08/20/2026

Bitcoin Surges to $69,000 as Treasury Buybacks and SEC Proposal Ignite $2B Liquidations

What happened: Bitcoin crossed $69,000 for the first time in nearly two months, while ether jumped 10% to reclaim $2,000.

Bitcoin Surges to $69,000 as Treasury Buybacks and SEC Proposal Ignite $2B Liquidations

What happened: Bitcoin crossed $69,000 for the first time in nearly two months, while ether jumped 10% to reclaim $2,000. The rally was triggered by the U.S. Treasury's announcement to double long-dated bond buybacks to at least $4 billion per operation (Sept 9–Nov 4), and the SEC's new crypto asset proposal introducing two offering exemptions. The rapid price move caused nearly $2 billion in crypto liquidations, mostly from short positions. Crypto-linked equities like MicroStrategy and Bitmine gained around 10–20%.

Why it matters: The scale and speed of the rally highlight the crypto market's sensitivity to macro policy shifts. While the buybacks eased bond yields and boosted risk appetite, analysts note the move reflects underlying stress in traditional markets, not just organic crypto demand. The SEC's proposed regulatory framework could open new fundraising avenues but remains in early stages. The rally's roots in bond-market volatility, not retail inflows, suggest caution on sustainability.

Source: The Block