Bitcoin price rises above $71,000, updating its highest level since the start of summer

cryptonews.ruPublished on 2026-08-20Last updated on 2026-08-20

Abstract

The price of Bitcoin (BTC) continued to rise, reaching $71.7 thousand for the first time since June 1st. Over the past 24 hours, the price of the leading cryptocurrency has increased by approximately 11%. Liquidations on cryptocurrency exchanges in the last day have already exceeded $3.3 billion, placing this period in the top 10 largest daily forced closures in the history of the crypto market, according to Coinglass. The total market capitalization grew by 9.9%, returning to $2.41 trillion, also for the first time since early summer. Trading volume for cryptocurrencies in the last 24 hours reached $138 billion, compared to a range of $20–60 billion during the first half of August. The market growth began the previous evening following new statements from US President Donald Trump regarding cryptocurrencies. He stated that Congress needs to "take the next step" by approving the CLARITY Act market bill and instructed regulators to work on the entry of the Hyperliquid exchange into the US market. Following these statements, the Hyperliquid (HYPE) token rose to $72 (up 23% daily), nearly reaching its historical high. It is currently trading 6% below the peak of $76.85 set in June.

The price of Bitcoin (BTC) continued to rise and reached $71,700 by 11:50 Moscow time, for the first time since June 1. Over the past 24 hours, the price of the leading cryptocurrency has increased by approximately 11%.

Liquidations on cryptocurrency exchanges over 24 hours have already exceeded $3.3 billion. The latest day has already entered the top 10 for the largest daily forced closures in the entire history of the crypto market, according to the Coinglass ranking.

The total market capitalization grew by 9.9%, returning to $2.41 trillion, also for the first time since the start of summer. The trading volume of cryptocurrencies over the last 24 hours amounted to $138 billion. For comparison, during the first half of August, it fluctuated in the range of $20–60 billion.

The growth of the crypto market began yesterday evening after new statements from U.S. President Donald Trump concerning cryptocurrencies. He said that Congress needs to "take the next step" by approving the CLARITY Act crypto market bill and instructed regulators to work on bringing the Hyperliquid exchange to the U.S. market.

The Hyperliquid (HYPE) token rose after these statements to $72 (up 23% in 24 hours) and nearly updated its all-time high. It is trading 6% below the peak set in June at $76.85.

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Crypto short liquidations pass $3B mark as Bitcoin price nears $72K

Bitcoin and altcoins surged as the cryptocurrency market witnessed over $3.1 billion in short position liquidations from August 19-20, driven by Bitcoin's rise toward $72,000. This price increase was partly a reaction to a US Treasury liquidity intervention, leading to the largest single-day short squeeze on record. While Bitcoin accounted for about half of these liquidations, this event was smaller than previous long liquidation cascades. Concurrently, short-term Bitcoin holders took profits, moving a record 43,300 BTC to exchanges in 2026 as their cost basis was surpassed, signaling a significant profit-taking move after a period of unrealized losses.

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Crypto short liquidations pass $3B mark as Bitcoin price nears $72K

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HYPE Soars 26.86%, Approaching All-Time High: What Is the Market Buying Into?

HYPE surged 26.86%, nearing its all-time high. The primary catalyst is news that former President Trump stated U.S. CFTC Chairman Michael Selig is actively working to bring the Hyperliquid protocol into the U.S. in a fully compliant manner. This aligns with Hyperliquid's own lobbying efforts, including a recent proposal with trade.xyz to the SEC for introducing pre-IPO perpetual contracts (IPOPs) to provide price discovery before public listings. Key points driving the optimism include: Hyperliquid's established position as a leading on-chain perpetual exchange; active engagement with U.S. regulators (SEC and CFTC) on frameworks for compliant derivatives trading; and significant political and regulatory momentum under the current administration to foster crypto innovation with clearer rules. Potential paths for Hyperliquid's U.S. entry are discussed: 1) Partnering with licensed U.S. entities for clearing and KYC, 2) Listing Hyperliquid assets on already compliant platforms like Coinbase, or 3) The more complex route of acquiring/building a fully regulated U.S. exchange. The process is estimated to take several months to a year but marks a significant step towards legitimizing on-chain derivatives in the U.S. market, boosting HYPE's price prospects.

Odaily星球日报27m ago

HYPE Soars 26.86%, Approaching All-Time High: What Is the Market Buying Into?

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Jameson Lopp's BIP-110 Postmortem: Bitcoin Is Driven by Game Theory, Not Morality

Jameson Lopp's analysis concludes that BIP-110, a proposal to restrict arbitrary data (like inscriptions) on Bitcoin, failed due to economic and technical realities, not moral arguments. The proposal, championed by Luke Dashjr and others, aimed to "cleanse" the chain but never reached its 55% miner activation threshold. Upon its forced signaling deadline in August, only the OCEAN pool (with ~1% hash rate) supported it, creating a short-lived fork that quickly died as miners faced unredeemable block rewards. Lopp's earlier predictions about its economic infeasibility were proven correct. Technically, BIP-110 was flawed; workarounds to embed data compliant with its rules were demonstrated almost immediately, proving it couldn't achieve its stated goal. The debate often devolved into moralistic rhetoric, with supporters accusing opponents of supporting child exploitation material—a tactic Lopp criticizes as ineffective for building consensus. Lopp argues Bitcoin is driven by incentives and game theory, not morality. Past forks like Bitcoin Cash promised economic benefits, while BIP-110 offered only restrictions and reduced miner fees, gaining no substantial support from major economic players. He predicts the "puritans" behind the failed fork will continue complaining but their new chain will remain insignificant. The episode reaffirms that attempting to censor data on a permissionless, anti-censorship network like Bitcoin is a futile battle.

marsbit29m ago

Jameson Lopp's BIP-110 Postmortem: Bitcoin Is Driven by Game Theory, Not Morality

marsbit29m ago

Tokenization Scale Soars to $4.3 Billion, But Why Did Securitize Incur a $5.5 Million Loss?

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Tokenization Scale Soars to $4.3 Billion, But Why Did Securitize Incur a $5.5 Million Loss?

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The Five Paradoxes of Artificial Intelligence

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The Five Paradoxes of Artificial Intelligence

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