On August 20, the crypto market rebounded sharply. Intra-day, $BTC surged past $71,000; within 24 hours the gain exceeded 10%, triggering large-scale liquidations of short positions across the entire network. More than 195,000 traders were liquidated, with total liquidations of approximately $337 million, and short positions making up over 90%.
This rally coincided with the U.S. Treasury expanding the scale of long-term Treasury repo operations and a sharp drop in U.S. Treasury yields. The U.S. dollar index weakened, risk-off sentiment cooled, and risk assets were broadly boosted. Crypto market sentiment clearly improved, but given the high volatility, position risk should still be monitored.
For informational purposes only and does not constitute investment advice.
This rally coincided with the U.S. Treasury expanding the scale of long-term Treasury repo operations and a sharp drop in U.S. Treasury yields. The U.S. dollar index weakened, risk-off sentiment cooled, and risk assets were broadly boosted. Crypto market sentiment clearly improved, but given the high volatility, position risk should still be monitored.
For informational purposes only and does not constitute investment advice.