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Crypto

Bitcoin rallies past $73,000 after short squeeze and ETF inflows; analysts eye next catalysts

Bitcoin climbed above $72,000 to break past $73,000 on Aug. 20, rising about 15% since Aug. 16. The jump triggered more than $3 billion in crypto short liquidations, with Bitcoin short liquidations the largest since at least 2021, Decrypt reported. Markets cited U.S. Treasury long-term bond purchases, comments on possible Bitcoin buying by U.S. President Donald Trump, a short squeeze and $517 million in spot Bitcoin ETF inflows. Analysts differ on whether gains can hold.

Crypto

Bitcoin asset flight surges after Coldcard flaw exposed

Bitcoin investors sharply increased asset transfers after vulnerabilities were exposed in the Coldcard hardware wallet. Active Bitcoin addresses approached 1 million, the highest level since Dec. 10, 2024, and long-held coins also moved. Sending addresses rose faster than receiving ones, indicating transfers rather than new inflows. Galaxy Research tallied thefts of 1,367 BTC worth about $89 million from 4,585 addresses. Exchange deposits of under-10 BTC transactions also surged.

Crypto

49,000 bitcoin flow into exchanges bolsters $61,000 support

Bitcoin exchange inflows jumped to about 49,000 bitcoin in a day, renewing concerns about higher market volatility. CryptoQuant said rising inflows across bitcoin, ether and altcoins have repeatedly appeared ahead of directional price moves. Average deposit size doubled to 2 bitcoin, suggesting whales and institutions are moving coins to exchanges. Bitcoin dipped to $59,520 on July 2 before rebounding above $61,000, with CryptoQuant citing $60,000 as key support.