Bitcoin jumps past $71,000 after US Treasury plans $4B buybacks
Bitcoin just shot past $71,000, its highest since June, after weeks stuck between roughly $62,000 and $66,900.
The big move came right after the US Treasury announced it would at least double long-dated buyback operations to $4 billion, which helped bring down 30-year yields and sparked fresh excitement in the crypto world.
Market wipes out $3B in shorts
With Bitcoin's jump, about $3 billion in short positions were wiped out in a single day (including a wild more than $1 billion in just one hour).
Trading volume soared 250% to hit $59 billion, and Bitcoin's market dominance climbed to 59.2%.
Other coins like Ether, SOL, XRP, and DOGE also saw double-digit gains.
Meanwhile, President Trump called on Congress to pass the Clarity Act and hinted at possible US Bitcoin buys, adding even more buzz to an already hectic market.