According to CoinMeta, as the price of Bitcoin broke through $70,000 on the evening of August 19th, short sellers suffered nearly $3 billion in losses quickly. Market data shows that traders and investors who went short on Bitcoin lost about $2.7 billion in the past 24 hours, with the price once reaching $72,000. Due to the sharp rise in Bitcoin prices, 172,108 professional traders were liquidated, representing the largest loss for short sellers since 2021. Bitcoin has been fluctuating within a narrow range of $60,000 to $65,000 over the past six weeks, and Wall Street had initially expected the price to fall further. However, after U.S. President Donald Trump publicly called on Congress to pass a clear regulatory framework for digital assets, the price rose by 11% in the past 24 hours.