Bitcoin Price Surges Over 20% in Two Days

The price of Bitcoin has sharply increased in the last two days, rising from around $64,000 to over $75,000. On August 21, it reached its highest level in approximately 12 weeks.

The increase is not limited to Bitcoin alone; significant price hikes have also been observed in Ethereum, Solana, and HYPE. For instance, Ethereum recorded an approximate 18-20% increase in just one day, while Solana witnessed double-digit growth.

The resurgence in the cryptocurrency market is attributed to positive expectations surrounding cryptocurrency regulations in the U.S., a decline in government bond yields, and the forced liquidation of numerous 'short' positions.

In recent days, billions of dollars in such positions have been liquidated, further accelerating the rise in prices.