Bitcoin surged past $72,000 to a session high of $72,850, gaining approximately 14% over four days and raising its market capitalization to $1.45 trillion.
Key Takeaways
Bitcoin surged 14% over four days to a session high of $72,850, lifting its market cap to $1.45 trillion.Pro-crypto White House meetings and Treasury policy shifts sparked $1.59 billion in short bets liquidated.Market strategists expect Scott Bessent’s expanded Treasury bond buybacks to spur further crypto momentum.Although bitcoin briefly slipped back below $72,000 for five hours, persistent buying pressure kept it near the threshold. Around 11 a.m., a second wave of buying propelled the cryptocurrency to a session high of $72,850. The surge lifted bitcoin’s 24-hour gain to 5.6% and boosted its market capitalization from $1.44 trillion to $1.45 trillion.
Since Monday, Aug. 17, when it traded around $63,500, bitcoin has added approximately $9,000 to its value—a 14% gain in just four days. The increase narrowed its year-to-date losses to 17.4%, slightly improving its odds of closing 2026 with net gains.
Meanwhile, for the second consecutive day, bitcoin’s ascent decimated leveraged short positions, although the total liquidated was markedly lower than in the preceding 24 hours. According to Coinglass data, bitcoin’s price action wiped out $650 million in short bets, compared with $41 million in long bets. Overall, about $1.59 billion in short bets was liquidated across the cryptocurrency market versus $219 million in long bets.
