Bitcoin Gains 8% on U.S. Treasury Policy, Crypto Rulebook
Bitcoin is up 8.14% to $69,821, leading a broad market rally, driven primarily by a powerful combination of positive U.S. regulatory news and a major macro liquidity injection.
The US SEC proposed its first comprehensive crypto rulebook and the U.S. Treasury announced it would double long-term bond buybacks to $4 billion, boosting liquidity and risk appetite.
Two simultaneous U.S. policy moves ignited the rally. The SEC’s proposed rule aims to simplify crypto fundraising, while the Treasury’s bond buyback expansion is seen as an indirect form of yield curve control, thereby improving liquidity for scarce assets.
Institutional confidence surged on clearer rules and easier financial conditions, driving the initial capital inflow.
The price surge forced the liquidation of over $1.1 billion in Bitcoin short positions in 24h, a historic event. Technically, BTC broke a multi-month consolidation, with RSI(14) at 89.54 signalling extreme bullish momentum.
The rally is extended. The immediate trigger is the sustainability of ETF inflows, which added $486.8 million over two days. The key level is $68,000; holding it opens a path to $71,400–$71,500. A break below risks a retest of $66,364 (EMA 100).
The trend is bullish but vulnerable to a short-term correction given overbought reading. The July FOMC minutes release on August 20 for any hawkish surprises that could pressure risk assets.
A potent mix of regulatory progress, macro liquidity, and a historic short squeeze propelled Bitcoin to two-month highs. The move is technically confirmed but overextended. #Bitcoin Gains 8% on U.S. Treasury Policy, Crypto Rulebook# Bitcoin Gains 6% as US Treasury Doubles Down on Bond Buyback
