🔎 BITCOIN JUST WOKE UP.
BTC is up roughly 6% today, surging from around $64,000 to nearly $69,000 in a matter of hours.
And this move is worth paying attention to.
Three things appear to be driving it:
President Trump is meeting with crypto executives and regulators at the White House today as Washington moves toward clearer rules for digital assets.
The SEC is advancing a new regulatory framework for crypto while the CLARITY Act is now scheduled for a Senate vote in September.
The move triggered a massive short squeeze. More than $1 BILLION in leveraged shorts were reportedly liquidated in roughly one hour, forcing traders to buy Bitcoin back and accelerating the move higher.
That third point matters.
This was not simply $1 billion of new investors suddenly buying Bitcoin.
Part of today’s explosion was mechanical.
Price rises → shorts get liquidated → forced buying pushes price higher → more shorts get liquidated.
The bigger signal will come next.
Bitcoin is now pressing a...
Suggested Credits
Tags, Events, and Projects