The post Bitcoin’s Fast Climb Above $75,500: Start of a New Bull Phase or Just a Squeeze? appeared on BitcoinEthereumNews.com.
Bitcoin breaks above $75,500 as Treasury buybacks and ETF inflows fuel today’s rally. More than $3 billion in crypto shorts were liquidated as Bitcoin climbed past $75,000. Bitcoin must hold $70,000 and absorb profit-taking to confirm a broader price breakout. Bitcoin has broken above $75,500 after a sharp rally lifted it to its highest level in more than three months. The advance followed larger U.S. Treasury buybacks and renewed inflows into Bitcoin ETFs. Heavy short liquidations added further momentum to the move. Bitcoin’s advance began on August 19, when the U.S. Treasury announced plans to at least double its long-term bond buybacks. BTC then moved above $70,000 on August 20 before climbing through $72,000 and later reaching above $75,500. What Are Analysts Saying About Bitcoin’s Rally? The sharp Bitcoin rally has divided market analysts over whether the move marks a genuine breakout or a powerful short squeeze. In an X post, Joe Consorti highlighted the move as unusually strong and suggested that the market could be seeing the rally it had been waiting for. His comments came as Bitcoin broke through several major resistance levels in quick succession. Okay this is getting ridiculous. I don’t ever remember a bear market rally that was this violent. Fairly confident this is what we’ve been waiting for. Don’t blink 🫡 pic.twitter.com/b2hiPt0HtV — Joe Consorti (@JoeConsorti) August 21, 2026 Peter Schiff took the opposite view. He argued that Bitcoin’s move above $72,000 was a fakeout rather than a confirmed breakout. Schiff also linked the rally to the Treasury buyback announcement. He argued that investors expecting easier liquidity to lift Bitcoin should instead favor gold. Treasury Buybacks Add Fuel to Bitcoin Rally The U.S. Treasury said it would increase the maximum size of buyback operations for longer-dated Treasury securities from $2 billion to at least…
Be the first to comment