Bitcoin Hits 77,000 Dollars Amid Short Squeeze and Political Hopes

MGR Online•Economy•5d ago

Reader Briefing

Bitcoin price surged past 77,000 USD on August 21, 2026, driven primarily by a massive short squeeze and political expectations rather than new fundamentals.

•Bitcoin reached a 3-month high of over 77,000 USD on August 21, 2026.
•A short squeeze of over 3 billion USD occurred after the US Treasury announced increased long-term bond buybacks.
•Donald Trump called for the passage of the Clarity Act and suggested the US government might buy Bitcoin.
•The Thai digital asset market grew by 3.68% in July 2026, but active trading accounts and daily volume decreased by over 20%.

Overview

•Bitcoin price broke through 77,000 USD during the Asian market morning on August 21, 2026.
•A short squeeze of over 3,000 million USD was triggered after the US Treasury announced a long-term bond buyback increase of at least 4,000 million USD.
•President Donald Trump urged Congress to pass the Clarity Act to clarify the legal status of digital assets.
•The Clarity Act has not yet passed the Senate, with the next procedural vote scheduled for September 15, 2026.
•BlackRock's IBIT fund saw a single-day inflow of 284.7 million USD on August 19, 2026.
•The Coinbase Fear and Greed Index rose from 41 (Fear) to 59 (Greed) within a few days.
•The SEC of Thailand implemented new rules regarding major shareholders on August 16, 2026, to close nominee loopholes.
•The SEC of Thailand issued warnings about scammers impersonating executives to promote fake cryptocurrency investments.

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Key Quotes

James Check

"Bears are hurting badly right now."

หมีกำลังเจ็บหนักตอนนี้

Key Entities

Organization

Bitcoin(บิทคอยน์)ℹ️

A digital asset that surged to 77,000 USD on August 21, 2026.

CoinMarketCap(coinmarketcap)ℹ️

A source reporting Bitcoin's price exceeding 77,000 USD.

Bloomberg(บลูมเบิร์ก)

A news organization reporting Bitcoin's high price at approximately 75,740 USD in the Singapore market.

CoinDeskℹ️

A news agency reporting that technical mechanisms, not fundamentals, drove the price surge.

US Department of the Treasury(กระทรวงการคลังสหรัฐฯ)ℹ️

The agency that announced an increase in long-term bond buybacks of at least 4,000 million USD.

US Congress(สภาคองเกรส)ℹ️

The legislative body Donald Trump urged to pass the Clarity Act.

US House of Representatives(สภาผู้แทนราษฎรสหรัฐฯ)ℹ️

The body that passed the Clarity Act in July 2025 with a vote of 294 to 134.

Senate Banking Committee(คณะกรรมาธิการการธนาคารวุฒิสภา)ℹ️

The committee that passed the Clarity Act on May 14, 2026, with a vote of 15 to 9.

US Senate(วุฒิสภา)ℹ️

The body that has not yet voted on the Clarity Act due to a summer recess.

Hyperliquid

An entity for which regulators are seeking a legal way to enter the US market.

BlackRockℹ️

The manager of the IBIT fund which saw 284.7 million USD in inflows on August 19, 2026.

Coinbaseℹ️

The provider of the Fear and Greed Index.

SEC of Thailand(สำนักงาน ก.ล.ต.)

The Thai regulator that implemented new major shareholder rules on August 16, 2026.

Person

James Check

A Bitcoin analyst who stated that bears are currently hurting.

Donald Trump(โดนัลด์ ทรัมป์)ℹ️

The US President who called for the passage of the Clarity Act and discussed government Bitcoin purchases.

Law

Clarity Act

A proposed law to define the legal status of digital assets.