Crypto stocks rally as Bitcoin and Ether gains trigger heavy short liquidations

U.S.-listed crypto-related stocks rallied on Aug. 20 as remarks and actions by Donald Trump on Aug. 19, stronger spot Bitcoin and Ethereum ETF inflows, a Bitcoin and Ether recovery, and heavy short liquidations improved sentiment. American Bitcoin (ABTC) rose 17.87%, Strategy (MSTR) gained 14.55% in one market update and 12.15% in a separate Wednesday session, BitMine (BMNR) climbed 14.09%, Bullish (BLSH) advanced 13.81%, SharpLink (SBET) increased 12.73%, Coinbase (COIN) rose 12.68% in one update and 12.20% to $164.07 in another, Circle (CRCL) gained 12.37%, Gemini (GEMI) added 12.01%, MARA rose 9.54% and Robinhood (HOOD) increased 8.01%, according to BIT and Benzinga Pro data. CoinGlass reported $802.98 million in crypto liquidations over four hours, including $736.53 million, or about 92%, in short positions. Bitcoin was trading at $69,561.58 as of 3:27 p.m. Korea time on Aug. 20, up about 8.3% from a day earlier, while Ethereum jumped nearly 18% and reclaimed the $2,200 level, according to CoinMarketCap. U.S. spot Bitcoin ETFs recorded $517.2 million in net inflows on Aug. 19, their largest daily intake in about three months and a third straight session of net inflows, according to SoSoValue. BlackRock's IBIT led with about $284.7 million, followed by Ark Invest's ARKB with $77.7 million and Fidelity's FBTC with $62.4 million, while Bitwise's BITB, Grayscale's GBTC and Morgan Stanley's MSBT also drew money. U.S. spot Ethereum ETFs posted net inflows of $189.1 million, led by BlackRock's ETHA with about $122.1 million, followed by Fidelity's FETH with about $36.5 million, Grayscale Mini ETH with $16 million, BlackRock Staking ETHB with $9.7 million and Morgan Stanley's MSSE with $2.25 million. CZ cautioned that he was not predicting a market bottom, Arthur Hayes announced a return to lead Flop Labs, and a suspected whale accumulated 10,657 ETH worth $20.7 million for staking.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.