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Home›Crypto›Bitcoin›Bitcoin jumps above $72,000 as short squeeze lifts pri…

Bitcoin jumps above $72,000 as short squeeze lifts prices

The spike pushed bitcoin to a two-month high, lifting crypto equities in early trading.

Thursday, August 20, 2026 · Written up by our desk · Bitcoin

Bitcoin surged above $72,000 in early Thursday trading, reaching a two-month high, according to Yahoo Finance. The move also lifted related crypto stocks.

Yahoo Finance cited a short squeeze linked to a Treasury Department announcement made on Wednesday as a key driver behind the rally.

The article also notes the price strength helped propel broader momentum across crypto markets, with crypto equities moving higher alongside bitcoin.

Latest closeBitcoin $71,707.39 ▲3.5%

← Newer storyTreasury to raise long-term bond buyback cap to at least $4 billion

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Sources

Yahoo FinanceBitcoin Price Spikes Above $72,000 On Treasury-Fueled Short Squeeze

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