What Is $DOGE

On August 21, the whale 'Set 10 Major Goals' reopened a short position on ETH, currently shorting 1211.812 ETH at an opening price of $2346.83. Additionally, it has increased its BTC short position to 202.265 BTC at an opening price of $74506.57. Previously reported, on August 19, it made a profit of $20 million from a long position, while yesterday it took a profit of $6.28 million from a short position, resulting in a net profit of $13.72 million from this trading activity.

On August 21, the whale 'Set 10 Major Goals' resumed its short position on ETH, currently shorting 1211.812 ETH at an opening price of $2346.83. Additionally, it increased its BTC short position to 202.265 BTC at an opening price of $74506.57. Previously reported, on August 19, it made a profit of $20 million from long positions, while yesterday it realized a profit of $6.28 million from short positions, resulting in a net profit of $13.72 million from this series of trades.

On August 21, Bitcoin surpassed the $75,000 mark, reaching a three-month high. This surge was primarily driven by the U.S. Treasury's announcement to expand the liquidity support for long-term Treasury bond repurchase operations. The Treasury previously stated that it would at least double the scale of liquidity support for 10 to 30-year nominal coupon securities. Additionally, the SEC's latest cryptocurrency regulatory proposals and a White House meeting between Trump and cryptocurrency executives further boosted market sentiment. The strong rally also triggered a massive short liquidation. According to Coinglass data, Bitcoin's rise on Wednesday led to over $2.75 billion in BTC short positions being liquidated. In the past 24 hours, another $783 million in Bitcoin positions were liquidated, of which $747.7 million were short positions. However, analyst Shawn Young believes that the current upward trend may be overinterpreted by the market. He stated that the impact of the U.S. Treasury's intervention measures is perceived to be far greater than its actual effect, and changes in the bond market are more about forcing shorts to close quickly rather than improving Bitcoin's macro fundamentals. U.S. Treasuries are still competing with Bitcoin for marginal funds, and the current rise is largely driven by previously overcrowded short positions. He remarked that Bitcoin breaking through $70,000 'seems premature.' Zeus Research analyst Dominick John noted that short liquidations may continue to drive prices up in the short term, but as the forced buying pressure subsides, future trends will need to rely on real spot demand, liquidity conditions, and macro fundamentals for support. He indicated that the key for the next phase of the market is whether new capital can enter, transforming this short squeeze into a sustained upward trend. Additionally, if the Clarity Act progresses smoothly in September, it could become an important catalyst for further growth in the cryptocurrency market.