Bitcoin Clears $71,000, Liquidating $3 Billion in Shorts

On August 20, 2026, bitcoin broke its six-week $62,000–$66,900 range to top $71,000, forcing roughly $3 billion in short-position liquidations — $1.67 billion in BTC, $1.14 billion in ETH. Liquidations trigger automatic buy orders, compounding upward pressure. Bitcoin still sits well below its May 2025 all-time high of $109,760.