World · Market · Global ·
Bitcoin rallies to $77K on Treasury buybacks and forced shorts
Bitcoin surged 24% in its best week since 2023, breaking above $77,000 as the US Treasury expanded bond buybacks and over $4 billion in short positions were liquidated. Spot Bitcoin ETFs drew $608 million on August 20 alone, with institutional inflows accelerating across two consecutive days.
Why it matters for the crypto market
A major market move driven by a specific macro catalyst (Treasury liquidity measures) and forced deleveraging, signaling potential institutional demand and technical momentum.
Source: CoinDesk
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