Bitcoin climbed to $69,000 for the first time in two months on Wednesday as twin policy catalysts from the U.S. Treasury and the Securities and SEC sent crypto markets surging. Ether reclaimed the $2,000 mark for the first time since May, jumping 10%, while Solana, XRP and other major altcoins each gained more than 5% over the prior 24 hours. The rally triggered a cascade of nearly $2 billion in leveraged liquidations across crypto futures markets, according to CoinGlass data.
Bitcoin Hits $69K as Treasury, SEC Spark Major Rally
Bitcoin surged to $69,000 and ether jumped 10% after the Treasury doubled bond buybacks and the SEC proposed a new crypto offering framework, triggering nearly $2 billion in liquidations.
Bitcoin extended its rally to 1,750 on Aug. 20, a 10.5% surge that triggered the largest short squeeze on record with .7 billion in bearish bets liquidated. Spot bitcoin ETFs drew 17 million and ether funds 89 million on Aug. 19, the strongest daily inflows in months. President Trump hosted crypto executives at the White House, urging Congress to pass the CLARITY Act, and Senate Majority Leader Thune scheduled a cloture vote for September 15, 2026.
Full article: The move began Wednesday morning when the U.S. Treasury announced it would at least double the maximum size of liquidity-support buyback operations for longer-dated nominal coupon securities, covering the 10-year to 20-year and 20-year to 30-year segments. The current billion per-operation ceiling will rise to at least billion effective September 9. Simultaneously, the SEC proposed Regulation Crypto Assets, creating a tailored securities offering regime allowing issuers to raise up to million over four years or 5 million annually. Total crypto liquidations over 24 hours reached .92 billion, with roughly .7 billion in a single four-hour window. Fold Holdings jumped nearly 20%, while BitGo and American Bitcoin surged around 15%. Strategy and Bitmine gained approximately 10%. Earlier in the week, VanEck noted that eight of twelve capitulation indicators were flashing, suggesting the Bitcoin correction may be nearing its end. Bitcoin is now in approximately its eleventh month since the early October all-time high near 28,000.
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