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On August 19, the U.S. Treasury announced that starting September 9, it will at least double its long-end buybacks, and Bitcoin surged as much as 8.7%, reaching an intraday high of $69,749.

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Bitcoin perpetual futures recorded approximately $1.1 billion in short position liquidations within 24 hours. The total liquidation volume in the cryptocurrency market reached $1.92 billion on the same day. The price of the leading cryptocurrency touched an intraday high of $68,982.40 before stabilizing above $68,100.

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Bitcoin's potential bullish trend could stabilize market sentiment, encouraging holding over panic selling, and possibly driving prices higher. Bitcoin eyes key short-term holder cost basis, signaling potential bullish trend.

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XRP trading has developed a pronounced weekday peak during overlapping London and New York business hours. Evernorth highlighted that the three-hour window captured 23.5% of weekday on-chain volume in July, up from 14.3% a year earlier. XRP Trading Develops a Weekday Rush Hour XRP treasury company Evernorth shared Aug.