Bitcoin climbed above $75,500 on Aug. 20, its highest level in more than three months, gaining more than 8.9% in 24 hours as macroeconomic and regulatory developments triggered widespread short liquidations. The move followed the US Treasury Department’s announcement that it would at least double liquidity-support buybacks for longer-dated nominal coupon securities in the 10- to 30-year segment. A new SEC (U.S. securities regulator) crypto proposal and President Donald Trump’s meeting with prominent crypto executives at the White House added to the catalysts. More than $2.75 billion in Bitcoin short positions were liquidated on Aug. 19, followed by $783.2 million in BTC liquidations over the next 24 hours, including $747.7 million in shorts. Analysts said the rally must now attract fresh spot demand, liquidity and stronger macroeconomic support to continue after the short squeeze fades. Longer-term optimism includes the potential passage of the CLARITY Act in September, improving sentiment, tighter supply and a return of the Bitcoin Fear & Greed Index to Greed territory.