.png){kind=logo}
Bitcoin holds near $69,551, up 8.18% through today's session.
Ethereum trades above $2,250, gaining 17.74% over the past day.
Hyperliquid leads the top 10 gainers, up 20.97% over 24 hours.
Bitcoin broke sharply out of its multi-week range today. The move built on gains from yesterday's session and carried fresh momentum. A US Treasury decision to double long-dated bond buybacks reset liquidity expectations across risk assets.
Trading desks flagged one of the sharpest short squeezes seen in months. Ethereum, XRP, Solana and Hyperliquid all posted double-digit gains alongside Bitcoin. Traders now watch whether this pace holds once forced buying from short covering fades.
Bitcoin traded at $69,551.09, up 8.18% over the past 24 hours on live CoinMarketCap data. Its market capitalization stood at $1.39 trillion. Trading volume over 24 hours reached $52.54 billion. Bitcoin gained 8.93% over the past seven days, extending its sharp recovery.
Here is today's Daily Quote from leading crypto market analysts on Bitcoin's near-term structure.
Balaji Srihari, VP - Business, India at CoinSwitch, pointed to BTC's climb toward $69,000 alongside a near 10% jump in ETH. Improving liquidity conditions and supportive regulatory signals lifted sentiment sharply through the session.
The Treasury's expanded buybacks and the SEC's proposed exemptions accelerated the move further. Nearly $1.59 billion in liquidations added fuel, with $70,000 now the level to watch toward $75,000.
Prateek Gupta, Head of Business at Mudrex, said Bitcoin rallied from $64,000 toward $70,000, its highest level since June 2. The Treasury's doubled buybacks pushed the 30-year yield down near 5.2%.
Momentum around the CLARITY Act added further support to sentiment today. The rally triggered a record $1.1 billion in short liquidations, while Bitcoin ETFs drew $486 million over two sessions.
Vikram Subburaj, CEO of Giottus, placed Bitcoin near $69,600, up close to 8% on the day. US spot Bitcoin ETFs pulled in $651 million over three sessions, reversing last week's outflow.
He cautioned against chasing the single-day rise, favoring staggered entries instead. Subburaj flagged $68,500 as key support ahead of the August 26 PCE inflation print.
Also Read: Bitcoin as Collateral: BTC Usage in Lending, DeFi
Riya Sehgal, Research Analyst at Delta Exchange, said Bitcoin gained over 7% while Ether jumped nearly 18%. Total crypto market capitalization climbed close to 8%, reaching $2.37 trillion today.
CoinGlass data showed 171,320 traders liquidated within 24 hours, totaling nearly $2.98 billion. Sehgal flagged $68,000 to $69,000 as the range that keeps near-term structure constructive.
Nischal Shetty, Founder of WazirX, linked Treasury buybacks to lower 10-year and 30-year yields. The dollar's decline further supported demand for dollar-denominated digital assets today.
He placed Bitcoin support near $69,000 to $69,300, with resistance at $69,700 to $70,000. Ethereum ETFs drew $71.5 million in inflows, alongside broad gains across US and Asian equities.
The broader market holds a strongly bullish tone today. Here is how the top 10 coins by market capitalization stand, based on live CoinMarketCap data.
Biggest Gainers: HYPE, ETH, XRP
Hyperliquid led today's top 10 gainers, up 20.97% over the past 24 hours. Ethereum followed closely with a 17.74% advance on strong spot demand. XRP also posted a firm 10.58% rise through the session.
Biggest Losers: None
Every coin in today's top 10 traded higher over the past 24 hours. The stablecoins USDT and USDC held their pegs near parity. No major decliners appeared among today's largest cryptocurrencies.
The Treasury's buyback expansion and fresh SEC clarity stand as today's biggest catalysts. A sharp short squeeze and renewed ETF demand add further weight to sentiment.
The US Treasury said it will at least double long-dated bond buyback operations to $4 billion per session, effective September 9. The move eased pressure on 30-year yields, which slid from 5.34% to near 5.19% within hours.
Lower yields weakened the dollar and reduced competition for investor capital across markets. Traders read the shift as a liquidity-positive signal, rotating fresh capital toward Bitcoin, Ethereum and major altcoins.
The SEC proposed "Regulation Crypto Assets," its first dedicated rulebook for crypto token offerings. The plan opens two tracks, letting startups raise up to $5 million or $75 million under lighter disclosure rules.
Chairman Paul Atkins called the package a step toward clearer, fit-for-purpose crypto rules. The proposal opened a 60-day public comment window, adding fresh regulatory momentum to today's broader rally.
Hyperliquid's HYPE token jumped over 20% after President Trump said the CFTC is working toward bringing the exchange onshore. The comments came during a closed-door White House meeting with crypto executives and regulators.
Traders read the remarks as a signal of growing regulatory acceptance for decentralized derivatives platforms. HYPE's rally outpaced Bitcoin and Ethereum, extending gains built through Wednesday's broader market surge.
The Ethereum Foundation launched its Platåberget testnet today, opening early public testing ahead of the Glamsterdam upgrade fork. The update focuses on higher gas limits and parallel execution improvements.
Developers see the milestone as a step toward faster, cheaper transactions on Ethereum's base layer. The news landed alongside ETH's sharp price rally, reinforcing bullish sentiment across the ecosystem today.
Crypto liquidations reached close to $2 billion over 24 hours, the largest total since early February. Short positions accounted for the bulk of the wipeout, marking one of the sharpest squeezes in months.
CoinGlass data showed more than 171,000 traders liquidated across major exchanges today. Forced buying from the squeeze accelerated Bitcoin and Ethereum's advance well beyond spot demand alone.
US spot Bitcoin ETFs attracted roughly $651 million over three sessions, reversing the prior week's outflow streak. BlackRock's IBIT led the pack, drawing the largest single-day allocation among tracked issuers.
Analysts said the inflow trend confirms the rally extends beyond leveraged positioning alone. Ethereum ETFs added $71.5 million, pointing to renewed institutional appetite for regulated crypto exposure today.
Also Read: Crypto News Today: Bitcoin Inflows, Maya Protocol Exploit, Strategy Sells Stock
Bitcoin holds near $69,551 as traders weigh Treasury liquidity support against stretched short-term momentum. A close above $70,000 could open a path toward the 200-day moving average near $71,468. A pullback below $68,000 risks retesting the $65,800 support zone next.
Ethereum's break above $2,250 adds a constructive signal for broader altcoin sentiment this week. The SEC's new framework and continued ETF inflows remain key catalysts to track. Traders should watch the August 26 PCE inflation data and September 16 Fed decision closely.
What is the Bitcoin price today?
Bitcoin trades near $69,551.09, up 8.18% over the past 24 hours through today's session. Resistance builds near $70,000 and $71,468, the 200-day moving average, while support sits near $68,000 to $68,500, based on levels shared across major trading desks today.
Why did Bitcoin surge today?
The US Treasury's expanded bond buybacks lowered long-term yields, weakening the dollar and lifting risk assets broadly. A sharp short squeeze, nearing $2 billion in liquidations, combined with returning ETF inflows to push Bitcoin decisively past the $69,000 level.
What is the biggest crypto news today?
The Treasury's bond buyback expansion, the SEC's new Regulation Crypto Assets framework, and Trump's comments on bringing Hyperliquid onshore through the CFTC stand as today's dominant headlines shaping broader market sentiment.
Which coins are performing best today?
Hyperliquid leads today's top 10 gainers near 20.97%, followed closely by Ethereum and XRP. No coin among the top 10 posted a decline today, with stablecoins USDT and USDC holding steady near parity.
What should investors watch this week?
Track the SEC's 60-day comment window on its new crypto framework, continued ETF flow strength, and the August 26 PCE inflation data. The September 16 Fed decision could also shape near-term positioning.
