Analyst: Bitcoin Enters Strong Bullish Zone, Single-Day Short Liquidations Hit $1.42 Billion

August 20 news, CryptoQuant analyst Axel Adler Jr. stated that Bitcoin's market regime score (BTC Regime Score) has risen to 60.07, entering a strong bullish zone for the first time since late July, with BTC up 8.05% over the past 24 hours to $69,492. The score turned positive as early as August 17 (when BTC was around $63,324), leading the major price pulse on August 19 by about two days, so this rally cannot be solely attributed to the subsequent short squeeze. According to CoinGlass data, BTC short liquidations reached $1.42 billion within 24 hours on August 19, with over $1 billion liquidated within one hour.