比特币单日暴涨9%：美债回购与监管利好引爆空头清算

Well, well, well. Bitcoin just gave us a 9% God candle in a single session. The biggest daily candle since March. And that pump was brought to us thanks to $1.1 billion of short positions being wiped out in a matter of hours. More than 90% of everything liquidated in that 24-hour window was somebody betting the market went lower. It was the largest crypto short liquidation volume on record. But the move didn't start in the cryptosphere.

It started instead with a press notice from the United States Treasury. So today, we're breaking down what the Treasury did, how Trump poured petrol on the fire at the White House 4 hours later, and why a token that American traders are legally blocked from touching ended up being the biggest winner of the day. My name is Guy and this is the Coin Bureau. So then let's start with how the Treasury triggered this monster move.

On the 19th of August, the US Treasury announced it was at least doubling the size of its liquidity support buybacks of longerdated bonds going from $2 billion per operation to at least 4 billion and effective from the 9th of September running through to the 4th of November. So in simpler terms, the Treasury announced it's going to the market and aggressively repurchasing older, less liquid bonds. Now that doesn't create new money, and it doesn't reduce the debt.

So it's a bit like reorggaging the house rather than paying it off. But then why did that matter so much? Why did it impact markets within seconds? Well, because the day before the 30-year yield had touched 5.33%, its highest level since 2007. But then the Treasury essentially announced it was having none of that and stepped in. So those yields started dropping hard. The dollar meanwhile fell alongside and every single risk asset out there caught a bit and that bullish macro energy got concentrated into the cryptosphere.

Just a few hours later at the Eisenhower Executive Office Building, the US administration hosted some of the biggest names at the intersection of crypto and government. It came ahead of the CFTC's first ever innovation advisory committee meeting. Trump was there, of course, and so was SEC chair Paul Atkins, CFTC Chair Michael Selig, and White House crypto adviser Patrick Wit, Brian Armstrong from Coinbase, Brad Garlinghouse from Ripple, Vlad Tenner from Robin Hood, IC chairman Jeffreer, plus representatives from CME Group and NASDAQ.

So the three institutions that own American derivatives market structure were in the same room as the people building the thing that competes with them listening to the president talk about the rules. Interesting. And then Trump said this quote I understand that Mike is also working to bring hyperlid into the United States in a fully compliant and legal fashion. Working very hard on that. Mike being Michael Celic, the sitting chair of the CFTC.

Now, of course, he didn't offer a timeline, and this isn't some official approval, but there were two supporting announcements stacked either side of it. Trump pushed Congress for what he called a fair version of the Digital Asset Market Clarity Act with a Senate closure vote on the motion to proceed scheduled for the 15th of September. And Atkins spent his time promoting the SEC's proposed rulemaking from the day before, which creates registration exemptions for compliant token issuance.

That's the first cryptospecific rulemaking package in the AY's 90-year history. So, crypto was fortunate enough to have three separate regulatory doors opened inside one afternoon, and the charts clearly loved it. Now, when you're dealing with a market that can liquidate over a billion dollars worth of shorts in 24 hours, you really do need to be dialed in all the time. But that takes constant effort, and not everyone can spend their entire day staring at a computer screen.

So, let us do it for you. Right here on YouTube, you can join the Coin Bureau Club Light Plan. You'll get daily coverage and updates across crypto and tradi. Our teams read on the best opportunities in the market, and none of the noise. And if you sign up now, your first month is absolutely free. So just tap the join button below this video to get started. Right, back to this crazy market move and it's time to focus in on Hyperlquid.

As things stand today, Hyperlid geoblocks USIP addresses and it holds no designated contract market license from the CFTC. Onchain perpetuals have simply been off limits to American traders full stop. But Selig's framework doesn't try to regulate the matching engine. The idea is to license the US access point, the interface and compliance layer that Americans would touch while the decentralized execution engine keeps running exactly as it does now.

And there is already a precedent for bridging perpetual mechanics into the American rule book because on the 29th of May, the CFTC approved Koshi's BTC per contract on a registered venue. Meanwhile, the Hyperlquid Policy Center led by Jake Chavinsky and working alongside Phantom has been petitioning the CFTC for exactly this outcome. So, the market looked at all of that along with the bullish Treasury announcement and decided it was time to absolutely send it.

Hype pumped by over 20%, pushing through $70 and closing in on the $77 all-time high set back in June. Hyperlid Strategies, Inc. rallied 30% with options volume running at roughly eight times its 30-day average. David Shamis, who runs Hyperlquid Strategies, said they'd been trying for a while to figure out how to get into the US and the CFTC had been responsive. But when Trump says it at a press conference, it means it's a priority.

And there's another detail here worth celebrating. On the day SIBO fell 3.5% and CME Group fell 1.7%. Meanwhile, Coinbase closed up 9.5%. So, the incumbents sold off on the news and crypto companies rallied in a big way. That certainly looks like the market pricing in an onchain venue getting a legal front door into the United States. Not to mention what 24/7 trading and unified cross margin does to a business based on fixed trading hours and layers of middlemen.

So, let's recap this explosive move. Positioning in the crypto market was short, very short. The market had been grinding lower for weeks with crowded short exposure stacked between 64 and 67K. Then the Treasury pulls the long end down. The dollar drops and every risk asset starts soaring. Then the president adds a cryptospecific catalyst on top of it for good measure. Shorts get run over, forced buying takes the price higher. that triggers the next trunch of shorts and the God candle prince in all its glory.

I'll also note that open interest actually rose about 5.4% to 52 billion through the move which tells us that fresh shorts were stepping in front of this move upwards and they got flattened rather than longs capitulating. Ouch. And speaking of ouch, the single largest liquidation that day, a $ 48.4 $4 million Bitcoin short on Hyperlquid with a $23.3 million wipeout immediately before it. Good grief. The venue the president name dropped was also the venue where the biggest short of the lot went to die.

Is that ironic? Quite possibly. Now, as bullish as this move was, the implications of all these announcements are probably still underappreciated. We're not talking about mindless speculation here. We have a confirmed buyback schedule from the Treasury to support bond markets. We have another impulse to push the Clarity Act over the line come the 15th of September. There was proposed SEC rulemaking that went out the previous day with exemption tiers written into it.

And we have crypto's leading product Hyperlquid getting a shout out from the president and the CFTC chair working to bring it on shore. And to top it all off for good measure, we printed the largest BTC short liquidation day on record. All happening in what's usually the slow summer month of August. Crypto has a way of surprising us like this. And after the relentless chop recently, this move was one