A president sat down with the CEOs of Coinbase, Kraken, Robinhood, and Ripple at the White House and told Congress to get a stalled bill across the finish line. Two days later, over a billion dollars in bearish bets had been wiped off the board.
Bitcoin just closed its best five-day stretch since March 2024, surging 22% to reach $77,692 — and briefly as high as $81,449 — after President Trump hosted crypto executives on August 19 and urged passage of the CLARITY Act, while the U.S. Treasury simultaneously doubled its long-term bond buyback size, pulling yields lower and pushing capital toward riskier assets. The combination triggered a violent short squeeze, liquidating over $2.7 billion in bearish positions as BTC broke a six-week range stuck between $62,000 and $66,000. Spot Bitcoin ETFs pulled in $517 million in a single day, the strongest inflow in months.
The 4H chart shows the breakout in full: price exploded off support near $65,000, tearing through every EMA to reach its current $77,828, now consolidating just under the $79,500 zone — an old support level that's flipped into overhead resistance.
RSI sits at 72.76, deep in overbought territory, and the MACD histogram is negative at -377.32 even as price holds near its highs — momentum cooling while price hasn't followed yet.
A rally built on three real, independent catalysts — political pressure, Treasury liquidity, and a genuine short squeeze — has more substance than one driven by hype alone. But RSI this extended alongside a negative MACD histogram is a textbook divergence: price near the top, momentum already fading underneath it. And the CLARITY Act itself hasn't passed — it still needs 60 Senate votes and House reconciliation. The chart is pricing in a political outcome that isn't law yet.
Not financial advice — for informational purposes only.
#BTC #bitcoin #CLARITYAct #Binance $BTC
Bitcoin just closed its best five-day stretch since March 2024, surging 22% to reach $77,692 — and briefly as high as $81,449 — after President Trump hosted crypto executives on August 19 and urged passage of the CLARITY Act, while the U.S. Treasury simultaneously doubled its long-term bond buyback size, pulling yields lower and pushing capital toward riskier assets. The combination triggered a violent short squeeze, liquidating over $2.7 billion in bearish positions as BTC broke a six-week range stuck between $62,000 and $66,000. Spot Bitcoin ETFs pulled in $517 million in a single day, the strongest inflow in months.
The 4H chart shows the breakout in full: price exploded off support near $65,000, tearing through every EMA to reach its current $77,828, now consolidating just under the $79,500 zone — an old support level that's flipped into overhead resistance.
RSI sits at 72.76, deep in overbought territory, and the MACD histogram is negative at -377.32 even as price holds near its highs — momentum cooling while price hasn't followed yet.
A rally built on three real, independent catalysts — political pressure, Treasury liquidity, and a genuine short squeeze — has more substance than one driven by hype alone. But RSI this extended alongside a negative MACD histogram is a textbook divergence: price near the top, momentum already fading underneath it. And the CLARITY Act itself hasn't passed — it still needs 60 Senate votes and House reconciliation. The chart is pricing in a political outcome that isn't law yet.
Not financial advice — for informational purposes only.
#BTC #bitcoin #CLARITYAct #Binance $BTC
