Treasury Buyback Move Linked to Bitcoin's 25% Surge Toward $80,000
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Bitcoin surged approximately 25% to nearly $80,000 in a matter of days, partly influenced by a tweak in U.S. Treasury buyback operations. Analysts clarified that the buybacks do not constitute quantitative easing, but the measure helped pull long-term yields down from 19-year highs. The resulting shift in market conditions triggered a record short squeeze in the crypto market. The squeeze was amplified by the fact that traders had already been positioned heavily on the bearish side. Together, these factors created a sharp upward price movement in Bitcoin.
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