Bitcoin Price Breakout: U.S. Treasury Pivot Sparks Rally Above $69K

Bitcoin surged Thursday, breaking above $69,000 for the first time since June as investors digested a U.S. Treasury policy shift and a wave of forced short liquidations. The broader crypto market capitalization jumped 7.8% in 24 hours to $2.45 trillion by August 20, 2026, according to CoinGecko. Bitcoin rose nearly 8% to trade above $69,500, briefly nearing $70,000 before easing. Ethereum climbed 18% above $2,250, while XRP gained more than 10% to reclaim $1.10; Solana also advanced more than 10%. The Treasury said it would expand long-term bond buybacks from about $2 billion to at least $4 billion per operation starting September 2026, pressuring yields lower. CoinGlass data showed $2.99 billion in crypto positions liquidated over 24 hours, including about $2.74 billion in shorts.