Bitcoin Surges Past $75,500 as Analysts Question Whether Rally Can Last

Bitcoin has broken through $75,500, its highest level in more than three months, gaining nearly 9% over the past day. The rally traces back to the US Treasury’s move to expand liquidity-support buybacks for longer-dated securities, along with a new SEC crypto proposal and a White House meeting between the president and leading crypto executives.

Short Squeeze Fuels the Rise

The rally triggered massive short liquidations, with over $2.75 billion wiped out earlier in the week and another $783 million liquidated in the past 24 hours, most of it from short positions. Shawn Young, chief analyst at MEXC Research, called the move overblown, arguing the market is treating the Treasury’s action as more significant than it actually is and that positioning was already skewed before the announcement.

A Divided Outlook

Analysts saying the squeeze could keep pushing prices higher short term, though a sustained rally will need real spot demand and stronger fundamentals. He pointed to potential Clarity Act passage in September as a bullish catalyst. The Bitcoin Fear & Greed Index has climbed to 69, its highest reading since October 2025.