"RBC Crypto does not provide investment advice, the material is published for informational purposes only. Cryptocurrency is a volatile asset that can lead to financial losses."
On the morning of August 20, Bitcoin ($BTC) is trading around $69.5k, and Ethereum ($ETH) is trading above $2.25k. The price of the first cryptocurrency rose by 8%, while the second gained over 18% in the past 24 hours. At one point, on many major crypto exchanges, Bitcoin's price exceeded $70k, and Ethereum's exceeded $3.33k. For Bitcoin, these levels are the highest since the beginning of summer; for $ETH—record highs since mid-May.
Such volatility in the crypto market led to crypto exchanges liquidating positions of tens of thousands of traders, totaling $3 billion over 24 hours, according to Coinglass. Of this amount, $2.75 billion came from short positions—those betting on price declines.
The main losses for the day were in Bitcoin and Ethereum markets—nearly $2.6 billion. When discussing liquidations in the crypto market, it usually refers to the forced closure of perpetual futures (perps) positions. They allow trading with high leverage on amounts exceeding the trader's own capital.
Cryptocurrency Prices
In the listings of major online exchanger aggregators, offers to sell the TRC20 standard stablecoin $USDT for cash rubles or via SBP transfers start at 87.4 rubles per 1 $USDT.
The total crypto market capitalization is above $2.37 trillion. The Crypto Fear & Greed Index stands at 62 points ("Greed" zone) out of 100 possible—indicating that investors have become inclined to buy cryptocurrencies. The indicator updated its yearly high.
Among the top 100 cryptocurrencies by market capitalization over the past 24 hours, the largest gains were shown by the tokens of decentralized exchanges for trading perpetual futures: Lighter ($LIT) and Hyperliquid ($HYPE)—each gaining over 20%. The token of the Stabel project (STABEL), a protocol for stablecoin operations, performed worst during this time—falling by 5%.
Regarding capital inflows into spot Bitcoin ($BTC) Exchange-Traded Funds (ETFs), the trading session on August 19 saw an inflow of nearly $517 million. $ETH funds recorded an inflow of almost $189 million. These figures represent the highest daily values since the spring of this year.
Crypto News
No regulatory decisions or other global industry changes were made on August 19. The only major event that coincided with the rally was a meeting between industry representatives and US authorities at the White House.
The cryptocurrencies of the Hyperliquid exchange ($HYPE) and the Ethereum blockchain ($ETH) led among major crypto assets during yesterday's rally. Although many coins showed double-digit gains, these two assets outpaced all other major ones.
$ETH began rising early without a specific news catalyst. Meanwhile, the price of $HYPE soared following US President Donald Trump's statements about "bringing Hyperliquid to the US market."
Trump made this statement on Wednesday at an event at the White House alongside agency heads and leaders of major crypto companies. The meeting was attended by the heads of the main US market regulators: Michael Selig from the Commodity Futures Trading Commission (CFTC) and Paul Atkins from the Securities and Exchange Commission (SEC).
Also present were representatives of major traditional crypto companies: Coinbase's Brian Armstrong, Ripple's Brad Garlinghouse, Nasdaq's Adena Friedman, Robinhood's Vlad Tenev, Kraken's Arjun Seti, Chainlink co-founder Sergey Nazarov, billionaire brothers Cameron and Tyler Winklevoss from the Gemini exchange, and the head of the largest crypto venture fund, a16z crypto, Chris Dixon.
Trump did not specify what a US-located version of Hyperliquid would look like or what regulatory approvals it would require. On the same wave, the token of the competing exchange Lighter ($LIT) also showed double-digit growth, although Trump did not mention it in his statement.
Trump also stated that the US Congress needs to "take the next step" by approving a bill on the structure of the cryptocurrency market, which has been postponed until autumn. The bill's progress has slowed due to several contentious issues. The banking lobby opposes the development of the stablecoin sector, which could compete with traditional deposits.
Crypto Reserve and US National Debt
In addition, when asked if the US plans to accumulate significant Bitcoin holdings, Trump replied: "Of course, we have talked about it. It would take a huge amount of pressure off the dollar. It was very, very useful for the dollar. And if you come with recommendations, I will certainly listen."
It is noteworthy that back in March 2025, US President Donald Trump signed an executive order that provided for transferring confiscated bitcoins to the country's strategic Bitcoin reserve and prohibits their sale. However, an audit of crypto assets in US government wallets, ordered by Trump, was supposed to be conducted in the spring of 2025, but no data has been published or officially announced yet.
The White House meeting coincided with a landmark event: US national debt exceeded $40 trillion for the first time in history—the figure increased by about $3 trillion in a year. This growth factor is traditionally viewed in the crypto community as a long-term bullish factor for Bitcoin. Moreover, in a recent report by the world's largest asset manager, BlackRock, these trends were noted as an argument for including Bitcoin in investment portfolios.
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