Why Is BTC Price Up 7.70% Today, August 20? $1.33B Short Squeeze and Treasury Buyback Hopes Lift BTC

BTC rallied ~7.7% alongside a broad ~7.15% expansion in total crypto market cap, with flows dominated by a large derivatives-driven short squeeze: ~$1.33B of short liquidations out of ~$1.38B total. Rising open interest and funding turning positive suggest leverage rebuilt quickly after forced covering, increasing sensitivity to volatility. Macro chatter around potential U.S. Treasury buybacks and easier financial conditions added risk-on support.