Bitcoin Surpasses $81,000 Amid Treasury's New Iran Sanctions
On August 25, Bitcoin (BTC-USD) reached a three-month high above $81,000. The surge is part of a broader crypto rally triggered by the U.S. Treasury’s announcement to increase long-term government bond buybacks, which has boosted liquidity expectations and led to a short squeeze in BTC trading. According to onchain analytics platform CoinGlass, over $240 million worth of Bitcoin short positions were liquidated within 24 hours, compared to only $88.83 million for longs. This imbalance is pushing traders toward forced closures of bearish bets and further price increases. The U.S. Treasury also launched a new sanctions campaign against Iran’s economy on August 24 under the name 'Operation Economic Outcast,' targeting sectors like digital assets, gold trading, aviation, and shipping globally.
