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Bitcoin Climbs Higher as $1.2 Billion in Shorts Liquidated

The largest cryptocurrency surged 7.9% in a day to around $77,000, triggering a short squeeze that wiped out roughly $1.21 billion in bearish bets amid a wave of favorable news from Washington.

$BTC
Decrypt · Aug 21, 2026
RegulationNegative

The hard truth is that the Clarity Act is an anti-crypto bill

After years of stalled bills, misguided enforcement, and catastrophic collapses, almost any comprehensive crypto legislation began to look like progress. But Clarity is turning that hunger for progress into a political trap, argues Berkeley Law lecturer Hermine Wong.

CoinDesk · Aug 21, 2026
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