Bitcoin and Ether bears get decimated amid 'squeeze-led' rally and Musk's X wants to pay creators in stablecoins: Crypto's week in 5 stories
Reported by CoinDesk · coindesk.com · August 22, 2026
Bitcoin and crypto staged their strongest rally in months as Treasury intervention, regulatory moves and a historic short squeeze collided, while banks and technology companies pushed deeper into stablecoins.
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What to watch: AI infrastructure spend continues to concentrate in compute, memory, and power equipment.
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