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Bitcoin ($BTC) cleared $72,000 for the first time since June 1 after two catalysts landed in the same session: the U.S.
Treasury said it would at least double longer-term government bond buybacks, and President Donald Trump hosted the crypto industry's leading executives at the White House to restate his pledge to make the U.S.
the natural home for the crypto industry. Bitcoin was trading at $71,385.80 at press time, up 11% over 24 hours. The mechanics showed in the derivatives data.
According to onchain analysis platform CoinGlass, crypto shorts worth more than $3 billion were liquidated in the 24-hour window. Bitcoin accounted for $1.67 billion of that figure; Ether accounted for $1 billion.
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