Bitcoin roars past US$70,000 as yields sink, Trump sparks optimism

On August 19, spot bitcoin ETFs saw $517 million in inflows, the largest daily inflow since May, while ether ETFs received $189 million, their biggest since October 2025, according to CoinDesk and SoSoValue. BlackRock's IBIT led with $284.74 million, followed by ARKB and Fidelity's FBTC. Bitcoin ETF net assets reached $84.31 billion, and ether ETFs $12.06 billion. The inflows were tied to bitcoin moving above $69,000 and ether around $2,250.

Bitcoin rose 7.09% to $69,266, its largest daily gain since March, while Ethereum surged 17.48% to $2,251. The rally was driven by short squeezes and White House support for crypto legislation, though it was derivative-driven. Latin America's crypto activity is dominated by stablecoins, with Brazil seeing 98% of purchases in stablecoins.

Bitcoin rose above $71,000 after President Trump met with crypto executives and urged Congress to pass the CLARITY Act, which aims to regulate crypto as commodities. Attendees included Coinbase's Brian Armstrong and Robinhood's Vlad Tenev. The bill, passed by the House last year, remains stalled in the Senate.

Cryptocurrency and blockchain-related stocks surged in premarket trading after U.S. President Donald Trump urged Congress to pass the Clarity Act, which would define cryptocurrency as a security or commodity. Bitcoin rose 3.4% to $71,700, and Ether gained 3.3%. Companies like Coinbase Global, Riot Platforms, and Canaan saw significant gains. The move follows the GENIUS Act's passage in July 2025, which established a regulatory framework for stablecoins.

Bitcoin rose 11.2% to $71,700, its highest since June 1, driven by falling US Treasury yields and regulatory optimism. Its market cap increased to $1.43 trillion, with trading volume surging 260% to $60.8 billion. Ethereum also climbed 18.6% to $2,270.

Bitcoin briefly hit $70,000 on Coinbase, driven by U.S. Treasury bond buybacks and regulatory developments. The Treasury doubled bond buyback operations, lowering yields and making riskier assets like crypto more attractive. President Trump's push for the Clarity Act, which aims to define crypto regulations, also contributed to the rally. Over $1.4 billion in short positions were liquidated, amplifying the price surge. Technical analysis suggests a potential target of $76,000, but Fed policy rem