Bitcoin Touches $70,000 as Treasury Eases Liquidity
Bitcoin touched $70,000 intraday on August 19, its highest level since June, after Treasury Secretary Scott Bessent doubled the size of Treasury bond buyback operations. Markets read the move as a liquidity backstop for the $30 trillion plus Treasury complex, and crypto reacted like a rates trade: an estimated $1.4 billion in short positions liquidated within four hours, with cumulative liquidations reaching roughly $2.7 billion as bitcoin pushed toward the round number (CoinGlass data via CoinDesk, 2026-08-19).
For more our Bitcoin coverage , see BTC ETF inflows reached $854 million in August , Bitcoin defied rate-hike fears with strong ETF flows , and Bitcoin holds ETF flows amid on-chain a…
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