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Bitcoin tops $79,000 amid $1.2B short squeeze as US debt fears boost crypto appeal

Market News
21 Aug 2026, 13:10 WIB
Bitcoin
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Bullish
Bitcoin tops $79,000 amid $1.2B short squeeze as US debt fears boost crypto appeal

Bitcoin surged past $79,000, pushing its market cap over $1.55 trillion and sparking a $1.22 billion short squeeze in crypto markets. This rally is driven by growing concerns over the US national debt exceeding $40 trillion, which has increased demand for alternative assets like Bitcoin. Strategy, a bitcoin-treasury company, returned to profit as its holdings gained value. Market sentiment remains bullish with 71% of prediction market traders expecting Bitcoin to surpass $80,000 next.

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