Odaily News, August 20: According to SoSoValue data, the cryptocurrency market has surged across the board, with 24-hour gains generally ranging from 2% to 12%. On the news front, Trump urged Congress to advance the CLARITY Act at a White House crypto event. The DeFi sector stood out, rising 12.68%, with Meteora (MET) climbing 23.64%. Additionally, following Trump's statement that he is working to bring Hyperliquid into the U.S. market in a "fully compliant and legal" manner, HYPE surged 18.45%.

Meanwhile, Bitcoin (BTC) rose 8.21%, breaking through $69,000; Ethereum (ETH) gained 18.38%, surpassing $2,200.

Notably, MAG7.ssi rose 9.12%, DEFI.ssi gained 13.51%, and MEME.ssi rose 8.11%.

In other sectors, the PayFi sector rose 10.45% in 24 hours, with XRP up 11.50%; the Layer 2 sector gained 7.65%, with Arbitrum (ARB) rising 16.12%; the Meme sector rose 7.42%, with OFFICIAL TRUMP (TRUMP) up 27.42%; the Layer 1 sector gained 6.66%, with Solana (SOL) rising 11.32%; and the CeFi sector rose 3.97%, with Cronos (CRO) gaining 8.42%.

The crypto sector indices tracking historical sector performance show that the ssiDeFi, ssiLayer1, and ssiPayFi indices rose 13.84%, 13.09%, and 10.82%, respectively.

Odaily News, Coinbase CEO Brian Armstrong posted on X platform, listing his "vision checklist" for the upcoming market: first, the CLARITY Act will receive strong bipartisan support and pass the vote on September 15, followed by "Uptober," and the start of the next crypto bull market. Armstrong stated, "Everything is unfolding as predicted."

Odaily News As Bitcoin approaches $70,000 and triggers a large-scale short squeeze, crypto-related stocks on U.S. exchanges are rallying across the board. Strategy (MSTR) rose 12.68% to $104.25, Coinbase (COIN) climbed 9.05% to $159.47, Circle (CRCL) gained 9.56% to $78.59, and BitMine (BMNR) advanced 10.72% to $20.24.

During the same period, Bitcoin's short-squeeze rally led to over $1 billion in short positions being liquidated within an hour. Additionally, the U.S. Treasury announced it would at least double the scale of its long-term Treasury buyback program starting in September, pushing risk assets broadly higher. Strategy and Coinbase are particularly noteworthy, as both are among the large-cap stocks heavily shorted on Wall Street. Coinbase is currently the fifth-most-shorted stock in the financial sector. As such, this rally not only squeezed shorts in the crypto derivatives market but may also force U.S. equity investors shorting MSTR and COIN to cover their positions. (Decrypt)

Odaily News, Coinglass data shows that the total liquidation amount across the network in the past 24 hours reached $2.987 billion, with short positions dominating the liquidations. Among them, short position liquidations totaled $2.739 billion, while long position liquidations amounted to $248 million. Additionally, BTC liquidations reached $1.419 billion, and ETH liquidations totaled $1.109 billion.

Odaily reported that during a meeting with leaders in technology and innovation at the White House, U.S. President Trump stated that the United States has completely ended its war on the crypto industry, noting that the crypto market is rapidly expanding. Trump said the crypto industry is booming and performing strongly, with no one able to stop it. He also mentioned that China desires to enter the crypto space and take the lead but has not yet succeeded. Trump has repeatedly emphasized the need for the U.S. to maintain global leadership in emerging technologies such as Bitcoin, cryptocurrency, and AI, while promoting a clearer regulatory framework for digital assets. At a recent White House crypto industry meeting, Trump also urged Congress to pass the Clarity Act to establish more transparent regulatory rules for the digital asset market, and emphasized the importance of policy support to attract crypto enterprises to remain and grow within the U.S.

Odaily News: Trump stated on the X platform that the U.S. government has discussed plans to accumulate large-scale Bitcoin and other cryptocurrency assets. Trump said the U.S. is exploring the possibility of increasing its digital asset holdings, but did not disclose specific implementation plans, funding sources, or a timeline. Earlier, the U.S. government had already pushed forward policies to establish a strategic Bitcoin reserve, and the market continues to watch for the possibility of the government further expanding its allocation to Bitcoin and other crypto assets.

Odaily报道：Galaxy的研究主管在X平台上发帖表示，他对Hyperliquid如何以完全合规合法的方式进入美国市场非常关注。

Odaily News: During a meeting at the White House with executives from crypto and financial firms, U.S. President Donald Trump urged Congress to pass a "fair version" of the Clarity Act, stating that market structure legislation is the next step in his digital assets policy.

The meeting was attended by Commodity Futures Trading Commission (CFTC) Chairman Michael Selig, Securities and Exchange Commission (SEC) Chairman Paul Atkins, White House crypto advisor Patrick Witt, as well as executives from Coinbase, Ripple, Robinhood, and Kraken.

The Clarity Act would establish federal rules for digital assets and clarify the regulatory jurisdictions of the SEC and CFTC. The bill is expected to return to the Senate in September, where Republicans will still need support from about six Democratic senators to reach the 60-vote threshold. (Decrypt)

Odaily News: Bitcoin News posted on X platform that Trump said Bitcoin is "very, very good for the U.S. dollar, easing pressure on the dollar." He also expressed willingness to proactively accumulate more Bitcoin.

Odaily News: HyperliquidNews posted on the X platform stating that Trump said, "The SEC Chairman is pushing to bring Hyperliquid to the United States."

Odaily News – Geoff Kendrick, Head of Digital Assets Research at Standard Chartered Bank, stated that Bitcoin (BTC) could rise to $100,000 by the end of 2026 as the U.S. Treasury expands liquidity support for the long-term bond market.

In a recent client report, Kendrick noted that Bitcoin's current key technical resistance level is $65,500. If the price breaks through this level, it could signal that the cyclical low for this market cycle has already formed. He suggested investors begin positioning for a Bitcoin rally to $100,000 by year-end. Kendrick stated that beyond the four-year cycle pattern for Bitcoin, which suggests the market may be nearing a bottom, the U.S. Treasury's recent announcement to expand long-term bond buybacks is also a significant catalyst.

The U.S. Treasury plans to raise the cap on buyback operations for 10- to 20-year and 20- to 30-year Treasury bonds from $2 billion to at least $4 billion per operation. The expanded program is scheduled to be implemented from September 9 to November 4. Following the announcement, yields on long-term U.S. Treasuries notably declined, easing the pressure that the significant sell-off in the bond market had placed on financial markets.

Kendrick believes the Treasury's expanded bond buybacks represent a "favorable environment for Bitcoin," as Bitcoin has previously benefited multiple times from government liquidity interventions, while its fixed supply mechanism gives it properties that hedge against currency debasement. In the market, Bitcoin rose over 6% on Wednesday, briefly approaching $69,000, marking its highest level since early June. Kendrick has previously been repeatedly bullish on Bitcoin's long-term trajectory, arguing that as global fiscal pressures increase and monetary policy trends toward easing, Bitcoin may enter a new long-term upward cycle. (Cointelegraph)

Odaily News: According to MSX.COM data, Strategy has surged over 14%. The stock price has broken through $105 and is currently reported at $105.7.

On the news front, Bitcoin briefly surpassed $69,000.