Bitcoin surpassed $72,000 and Ethereum reached roughly $2,300 on August 19-20, delivering their best single-day performance in months with a combined gain of 18% to 20%. US spot Bitcoin ETFs absorbed $517 million in a single day while Ether ETFs pulled in $189 million, for a combined total of $706 million. A short squeeze that liquidated $2.7 billion in positions amplified the rally as forced liquidations fueled a self-reinforcing price increase. The macro backdrop, particularly momentum around the US Clarity Act, boosted institutional appetite for assets with limited supply. The simultaneous surge in both Bitcoin and Ethereum suggests a sector-wide repricing rather than a Bitcoin-only event.
Source: Read the original article
