Published Aug 20, 2026, 1:04 PM ET · Updated 3 months ago · 2 sources
THE BLOCK: Bitcoin climbed above $72,000 for the first time since May after a record $2.75 billion in short liquidations helped accelerate a broader crypto rally fueled by improving macro and regulatory sentiment. Analysts say the move is being supported by genuine spot and ETF demand, though bitcoin:native will need to hold above $70,000 to show the rally can outlast the short squeeze.
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Original Report
THE BLOCK: Bitcoin climbed above $72,000 for the first time since May after a record $2.75 billion in short liquidations helped accelerate a broader crypto rally fueled by improving macro and regulatory sentiment. Analysts say the move is being supported by genuine spot and ETF demand, though bitcoin:native will need to hold above $70,000 to show the rally can outlast the short squeeze.