On August 20, Bitcoin returned to $70,000 for the first time in nearly three months, with a more than 8% gain over 24 hours. ETH also surged by more than 17%, reaching around $2,270. The three major drivers behind this: First, Trump met with cryptocurrency industry executives at the White House and urged Congress to advance the CLARITY Act. Second, the U.S. Treasury announced that it would double the limit for long-term debt buybacks, causing the U.S. Dollar Index to drop below 99. Third, the SEC issued tailored rules for token financing exemptions; with clearer regulation and looser liquidity, large-scale short covering was triggered. Within 24 hours, the entire market saw liquidations of nearly $3 billion, and the short position share exceeded 90%.$BTC $ETH $SOL Short-term momentum appears to be strong; be mindful of the risks of high leverage at elevated levels.#加密市场 #CLARITYAct For information only and does not constitute investment advice