Bitcoins $73K push may hinge on ETF demand: Analysts

Bitcoin has climbed toward $73,000 after a record short squeeze and falling U.S. Treasury yields powered an 11% rally, but analysts have warned that continued ETF and spot demand will decide whether the breakout holds.  Bitcoins short squeeze has accelerated the breakout  Nansen Senior Research Analyst Nicolai Søndergaard told crypto.news that forced short covering accelerated Bitcoins rise, although institutional demand and improved liquidity conditions had already given the market an upward bias.  “Bitcoins move above $70,000 reflects a combination of forced short covering, renewed institutional demand and a more supportive liquidity backdrop,” Søndergaard said.  Bitcoin traded near $72,600 after reaching about $72,800 on Aug. 20, extending a rally that began when the price cleared resistance around $65,000 and $67,000. The asset had spent roughly six weeks inside a narrow range before the breakout caught bearish traders positioned for another decline.  CoinGlass data showed that more than $1 billion in Bitcoin shorts were liquidated within about one hour. Across the crypto market, short liquidations reached approximately $2.7 billion over 24 hours, the largest total in records dating to 2021. Shorts accounted for about 92% of almost $3 billion in total liquidations across more than 172,000 traders.  As reported earlier on Thursday, Bitcoin gained 11.4% in 24 hours

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Bitcoin Is Pumping But Prediction Market Traders Aren't Convinced

In briefBitcoin traded at $71,556 on Thursday, up 3.26% on the day and inside a $68,858–$72,408 band,The move extends a Wednesdays 8.7% rip.On Myriad, the “pump to $84K or dump to $55K” market sits at a near 50-50 chances after leaning roughly 70% toward the dump days earlier.  Bitcoin traded at $71,556 on Thursday, up 3.26% on the day, as bulls attempt to break the bearish trend for the first time in months. Sentiment across the market has clearly shifted, but traders on prediction markets dont appear convinced just yet.  Today‘s move extends Bitcoins sharpest rally in five months, with yesterday’s performance being the strongest one-day jump since March 4 and its highest price since June 1.  Myriad: Bitcoin price next move? Click to make your prediction.  Prediction markets turn crowd bets into live odds, and on Myriad, a market run by Decrypts parent company Dastan, traders were leaning roughly 70% toward a dump to $55,000 just days ago. By Wednesday afternoon the odds had collapsed to a near coin flip: about 52% on the bullish $84K side, 48% on the bearish $55K.  But the skepticism isnt uniform, and the odds will vary across markets. Polymarkets flagship 2026 price market was pricing a 56% chance

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Ethos to auction 20% of WHUF supply from $1M FDV

Ethos Network has scheduled a September 1 auction for 20% of the WHUF token supply, setting its opening fully diluted valuation at $1 million and its maximum valuation at $99 million.  Summary20% of the total WHUF supply will be offered through the September 1 auction.Bidding will begin at a $1 million FDV and cannot exceed a $99 million FDV.Buyers can qualify for protection covering 85% of their purchase price for 12 months.Contributor XP and qualified referrals will determine additional token rewards.  Ethos Network said in an Aug. 20 X post that registration had opened for the WHUF auction, which includes added rewards tied to Contributor XP and participant referrals.  “Hello, Whuffie,” the protocol wrote while introducing WHUF and listing the main auction terms.  Under the announced limits, selling 20% of the supply at a $1 million FDV would value the auctioned portion at $200,000. The same allocation would be worth as much as $19.8 million at the $99 million cap, based on the relationship between the offered supply and the stated valuation range.  Ethos has not disclosed how much capital it expects to raise because the final amount will depend on bids submitted during the auction. The announcement also did not provide a final token

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CFTC Chair Readies Crypto Rules If Congress Fails to Pass Clarity Act

In briefCFTC Chair Michael S. Selig directed staff to explore crypto market structure rules using the agencys existing authority.Selig said he will direct staff to formally propose the rules if the Clarity Act remains stalled in Congress.The potential framework could cover crypto exchanges, leveraged trading, and on-chain finance protocols.  Commodity Futures Trading Commission Chair Michael S. Selig has directed agency staff to begin developing crypto market structure rules, preparing the regulator to act if Congress fails to pass the Clarity Act.  Speaking Thursday at the inaugural meeting of the CFTCs Innovation Advisory Committee, Selig said passing bipartisan market structure legislation remains his preferred path. If the bill remains stalled, however, he said the CFTC will use its existing authority to establish a regulatory framework for crypto markets, calling it “the most important step towards future-proofing this industry is passing this bipartisan bill.”  Myriad: Will the Clarity Act be signed into law in 2026? Click to make your prediction.  The Clarity Act would establish a federal framework for digital assets and clarify the CFTC and SECs roles in overseeing crypto markets. Selig said legislation would make those rules harder for a future administration to reverse.  “Passing Clarity is the surest way that we can prevent another

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XRP Outperforms Every Token Within Top 100

XRP has emerged as the strongest-performing cryptocurrency among the top 100 assets by market capitalization over the past 24 hours, according to CoinGecko data.  At press time, the token was trading around $1.26 after gaining 24% in 24 hours, putting it ahead of every other top-100 asset listed in the snapshot. XRP has also climbed 31% over the past seven days, extending a move that has accelerated sharply in the latest session.  The rally stands out even among a group of large-cap cryptocurrencies posting double-digit gains. Hyperliquid (HYPE) was the second-best performer on the 24-hour timeframe shown, rising 19.4%, while Ethena (ENA) gained 18.8% and Pump.fun (PUMP) advanced 18.6%. Pepe (PEPE) followed with a 17.6% gain, while Filecoin (FIL), Dogecoin (DOGE) and Cronos (CRO) rose 16.7%, 14.2% and 13.7%, respectively.  The magnitude of XRPs move is particularly notable given the tokens market size (it is the fifth-biggest cryptocurrency). With roughly $79.15 billion, its 24-hour trading volume has reached approximately $6.34 billion.  Digital Currencies  Massive trading activity  South Korean traders appear to be the main force behind the rally based on the volume recorded by Upbit, the countrys largest cryptocurrency exchange.  XRPs 24-hour trading volume on Upbit had surpassed $399 million.  XRP has historically attracted particularly strong retail trading

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Alibaba's Revenue Jumps 9% as AI Cloud Growth Hits 45%—But a Profit Plunge Sends Shares Lower

In briefAlibabas fiscal first-quarter revenue rose 9% year-over-year to 268.95 billion yuan ($40 billion), narrowly beating the 268.88 billion yuan analyst estimate, while net income fell 75% to RMB 10.44billion ($1.6 billion).Alibaba Clouds external revenue growth accelerated to 45%, and AI-related product revenue logged its 12th straight quarter of triple-digit growth, reaching 12.38 billion yuan ($1.82 billion).Capital expenditure jumped 75% to 67.7 billion yuan ($10 billion), pushing free cash flow to a $6.6 billion outflow; U.S.-listed shares fell as much as 5% before paring the drop to roughly 3.5%.  Chinese tech titan Alibaba reported fiscal first-quarter revenue of 268.95 billion yuan, roughly $40 billion, on Thursday, up 9% year-over-year and slightly ahead of the 268.88 billion yuan analysts expected.  Its the fastest quarterly growth rate the company has posted in roughly three years. Almost all of it traces back to one business line: cloud and AI.  Myriad: What will Elon Musks net worth be by August 31? Click to make your prediction.  The cloud division is where the growth is coming from. Alibaba Clouds external revenue growth accelerated to 45%, and AI-related product revenue hit 12.38 billion yuan ($1.82 billion)—its 12th consecutive quarter of triple-digit year-over-year growth. CEO Eddie Wu attributed the quarters strength

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Crypto PAC notches primary wins, but loses $2M Florida race

Update (Aug. 19, 8:27 pm UTC): This article has been updated to clarify that Lois Frankel won the Democratic primary in Floridas 23rd congressional district and not re-election.  Four of the five candidates supported by ads funded by the cryptocurrency-aligned political action committee (PAC) Fairshake won their primaries or otherwise advanced on Tuesday, potentially a bellwether for the industrys influence in the 2026 midterm elections.  On Tuesday, Democratic and Republican candidates supported by media funded by the Fairshake-affiliated PACs Protect Progress and Defend American Jobs, respectively, notched wins across three US states. Altogether, the PACs spent about $3.6 million on House and Senate races in Alaska, Florida and Wyoming.  Democrat Lois Frankel won her primary in Florida‘s 23rd congressional district after Protect Progress spent more than $150,000 on supportive media. Defend American Jobs also spent a combined $1.5 million on ads to support Republican Nick Begich in Alaska’s at-large congressional district, Republican candidate Sydney Gruters in Floridas 16th congressional district and Representative Harriet Hageman for the US Senate in Wyoming. Gruters and Hageman won their primaries, while Begich is expected to advance in Alaska.  All four candidates will likely go on to face challengers in the 2026 midterms in November, but a Democrat in

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Most Americans say the Trump family‘s crypto investments are not ’appropriate: Poll

A new poll conducted by Reuters/Ipsos found that a majority of respondents in the US believed it was not “appropriate” for US President Donald Trump and his family to earn through cryptocurrency investments while in office.  According to the results of the poll of 1,166 people between Aug. 14-17, 63% of the respondents said it wasnt appropriate for Trump and his family to earn money from crypto. Notably, 69% of Republicans polled said it was appropriate, while an overwhelming majority of Democrats, 92%, responded negatively.Source: Reuters  A June report from the US Office of Government Ethics disclosed that Trump had earned $1.4 billion from investments related to crypto in 2025, including through his family‘s World Liberty Financial company and his memecoin, Official Trump (TRUMP). White House spokesperson Anna Kelly has repeatedly said in response to requests for comment on Trump’s crypto investments that there were “no conflicts of interest.”  Several lawmakers have called for investigations and additional information from government agencies over World Liberty and the Trump family investments. In July, Senate Minority Leader Chuck Schumer said he had introduced legislation to create an agency focused on addressing corruption at the federal level, calling out the presidents “various, and extremely lucrative, cryptocurrency ventures.”  On

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Bitdeer signs $400M AI cloud computing deal for Malaysia facility

Bitcoin mining company Bitdeers artificial intelligence (AI) division, Bitdeer AI, signed a five-year customer deal covering about 50% of the capacity of its A102 Malaysia facility before its energization.  The deal was signed with an undisclosed customer of “high credit quality” and is expected to bring approximately $400 million in total revenue, Bitdeer revealed in a Wednesday announcement.  Revenue and associated costs are expected to begin in the first quarter of 2027 when services commence. Bitdeer AI is targeting 350 megawatts of AI cloud data center capacity by the first quarter of 2028.  Bitdeer is among the Bitcoin miners that expanded into AI infrastructure and high-performance computing to diversify revenue streams. Earlier in August, Bitdeer signed a 16-year lease valued at $4.7 billion for 121 megawatts of AI computing capacity in Norway.  Other Bitcoin miners that expanded into AI infrastructure include MARA Holdings, TeraWulf, Hut 8 and IREN.  Bitdeers stock price rose 7% on Wednesday and nearly 6% in pre-market trading on Thursday, changing hands at $10.2 a share as of 12:16 pm UTC, according to Yahoo Finance data.  Magazine: Bitcoiners turn to dice throws as self-custody setups are re-evaluated

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US debt tops $40T stoking debate on what it means for Bitcoin

As US federal debt tops $40 trillion for the first time, there is renewed debate over whether mounting government borrowing could strengthen Bitcoins case as a scarce, non-sovereign asset.  Interest costs have also climbed, surpassing Medicare to become the federal governments second-largest budget expense behind Social Security in the first 10 months of fiscal 2026, according to Reuters.  The debt milestone coincided with a Treasury move to calm a bond selloff thats pushed long-term yields to their highest levels since 2007. Treasury Secretary Scott Bessent said Wednesday the department would double buybacks of 10- to 30-year debt to at least $4 billion per operation, initially pushing yields and the US dollar lower as Bitcoin (BTC) and gold rallied.  Bitcoin is continuing to surge, trading around $72,600 on Thursday morning, up roughly 6% over the past 24 hours and 15% over the past week, according to CoinGecko data.  Source: Yahoo Finance  Related: Bitcoin ETFs add $189M as August net inflows approach $1B  Treasury buybacks add another potential Bitcoin catalyst  While Bloomberg and others attributed elements of Bitcoin‘s rally to optimism over friendlier US crypto policy following President Donald Trump’s meeting with industry executives at the White House on Wednesday, market analysts pointed to the Treasury and broader fiscal

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