---
title: "Bitcoin Surges Toward $70K as $1.14 Billion in Crypto Shorts Get Rekt in an Hour"
url: https://thecoingazette.com/bitcoin-surges-toward-70k-as-1-14-billion-in-crypto-shorts-get-rekt-in-an-hour/
date: 2026-08-19
modified: 2026-08-19
author: "Coin Gazette Editorial"
description: "A White House sitdown with crypto's biggest names and softer Fed signals lit the fuse. But the charts show why the pain for bears might not be over yet."
categories:
  - "Markets"
word_count: 29
---

# Bitcoin Surges Toward $70K as $1.14 Billion in Crypto Shorts Get Rekt in an Hour

A White House sitdown with crypto's biggest names and softer Fed signals lit the fuse. But the charts show why the pain for bears might not be over yet.