Bitcoin Surges Toward $73K as Treasury Moves and Short Squeeze Fuel Market Turnaround

Bitcoin staged a sharp recovery toward $73,000 after a massive short squeeze triggered approximately $1.3 billion in liquidations. One of the largest daily liquidation events on record.

The rally coincided with U.S. Treasury Secretary Scott Bessent signaling larger Treasury debt buybacks, which helped push long-term yields lower and was interpreted by some investors as a liquidity-positive development for Bitcoin and other hard assets.

Signs of a potential Bitcoin market bottom are also building. VanEck reported that 8 of its 12 capitulation indicators have triggered, while long-term holders moved roughly 356,000 BTC in 30 days, suggesting the 11-month correction may be approaching exhaustion. Meanwhile, regulatory developments remained active, with Kalshi and Polymarket executives joining the CFTC’s new advisory committee and President Trump’s comments about a potential U.S. regulatory pathway for Hyperliquid boosting HYPE. Together, improving liquidity conditions, heavy short liquidations and emerging capitulation signals have strengthened the argument that the crypto market may be entering an important turning point.

Clever Robot News Desk 24^th July 2026