Today (Aug 20), the cryptocurrency market surged across the board, ushering in a long-awaited “major counteroffensive.” The key driving force came from major positive developments in U.S. policy.

📈 Market snapshot

Over the past 24 hours, major cryptocurrencies all rallied together:

· Bitcoin (BTC): Jumped more than 11%, powerfully breaking through the $72,000 level and reaching its highest point since June 2.
· Ethereum (ETH): Rose more than 19%, reclaiming the level above $2,200.
· Other coins: Solana (SOL) surged over 13%, XRP rose more than 15%, and Hyperliquid (HYPE) climbed by more than 25%.

🚀 The “engine” behind the explosive rally

The core catalyst behind this uptrend is a strong friendly signal released by the U.S. government on the policy front:

· Crypto Summit at the White House: President Trump met with crypto industry executives from Coinbase, Ripple, and others at the White House, urging Congress to pass the industry-friendly “Clarity for Digital Assets Market Act” (CLARITY Act). This marks that crypto assets have officially entered the level of discussion within the country’s financial strategy.
· Treasury momentum: The U.S. Treasury announced a substantial increase in the scale of long-term Treasury repurchase operations. This move pushed Treasury yields lower and indirectly boosted the appeal of high-risk assets like Bitcoin.