Crypto news report · source clearly identified
Bitcoin Rises 7.9% to Around $77,000 as $1.2 Billion in Shorts Liquidated
Bitcoin surged 7.9% in a single day, reaching roughly $77,000 and triggering a short‑squeeze that erased about $1.21 billion of bearish positions amid positive regulatory signals from Washington.
Bitcoin jumped 7.9% in one day, pushing the price to approximately $77,000. The rally sparked a short‑squeeze that eliminated roughly $1.21 billion of short positions, according to market data.
Market Reaction
The sharp price move came alongside a wave of favorable news from Washington, which appears to have bolstered investor sentiment toward the leading cryptocurrency.
Short‑Squeeze Impact
Analysts estimate that the liquidation of short bets totaled about $1.21 billion, indicating a rapid reversal of bearish sentiment as traders were forced to cover positions.
Broader Crypto Landscape
While Bitcoin led the gains, other major assets showed mixed performance. Ethereum fell 1.3%, Binance Coin rose 2.5%, and Solana gained 1.2%.
Source & attribution
News Source
- Publisher
- Decrypt
- Original date
- August 21, 2026, 2:57 PM
- Original headline
- Bitcoin Climbs Higher as $1.2 Billion in Shorts Liquidated