CoinEx News: Bitcoin surged toward $70,000 on August 19, pulling ETH, XRP and SOL higher in crypto’s strongest rebound in months. The move triggered roughly $2.7 billion in short liquidations over 24 hours, turning the breakout into a chain reaction: rising prices forced bearish traders to buy back positions, adding fresh market orders and accelerating the rally. The squeeze coincided with expanded US Treasury buybacks aimed at improving bond-market liquidity and renewed crypto-policy talks in Washington. More importantly, SoSoValue recorded $517.2 million of net inflows into US spot Bitcoin ETFs on August 19, lifting the three-day total above $1.00 billion, while daily ETF trading volume reached $6.89 billion.

The evidence now points to more than a liquidation-only bounce: forced covering explains the speed, while ETF inflows show that regulated, spot-linked demand accompanied the rally. One strong inflow day still does not establish a durable trend. Bitcoin now needs to hold $70,000 as forced buying fades, with continued ETF inflows and spot volume providing the clearest confirmation that demand can carry the advance after shorts are cleared.