Crypto Bears Destroyed: $4bn Liquidated and X's USDC Payout Plan

#Shorts Bitcoin and Ether bears were decimated this week as a squeeze-led rally triggered more than $4 billion in crypto short liquidations, while Elon Musk's X reportedly explored paying creators in USDC. In this video, we break down the five stories that shaped the crypto market in the week ending Saturday 22 August 2026. You will learn why Ether suddenly outperformed Bitcoin, what the US Treasury's bond buyback expansion means for risk assets, and how X's stablecoin pivot could turn a $300 billion market into everyday payment rails. We also examine the exact figures behind the short squeeze, the expert view from Bitfinex analysts, and the near term signals that could decide whether this rally holds. • Over $4 billion in crypto short positions were liquidated during the squeeze, with more than $1 billion wiped out in a single hour on 19 August 2026 • Ether jumped nearly 19% in 24 hours at one point and posted an 18% weekly gain, comfortably beating Bitcoin's 8.8% weekly rise • Bitcoin climbed to around $69,500 on 19 August 2026 and crossed $72,000 on 20 August, its highest level since early June • The rally followed a White House meeting with crypto executives and a US Treasury move to expand bond buybacks, boosting liquidity • X is reportedly exploring USDC payouts for creators under its new Original Content Rewards Program, replacing the old revenue sharing system • Nearly $2.7 billion in bearish positions were closed in 24 hours on 20 August, marking the largest wave since 2021 • Total crypto market capitalisation rose 3.7% in 24 hours on 21 August, and sentiment shifted from fear to greed within days Watch until the end to understand whether this move has genuine staying power and exactly which signals to monitor next, then