How a Treasury buyback tweak helped bitcoin surge 25% to nearly $80,000 in days
Treasury buyback program eases long-term yields, triggering record short squeeze that lifts Bitcoin 25% to near $80K.
· Source: coindesk.com
A U.S. Treasury buyback program pulled long-term yields off 19-year highs, reducing headwinds for risk assets. The move coincided with a record short squeeze in Bitcoin as the market had become overextended to the bearish side, forcing covering and amplifying the rally. While not quantitative easing, the Treasury action shifted sentiment and liquidity conditions in a way that accelerated the move higher.
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