Bitcoin and gold surge as Bessent’s bond market intervention weighs on dollar
World’s biggest cryptocurrency on track for best week in more than three years
Source: Financial Times
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DW NOTE
Treasury Secretary Bessent is intervening in the bond market while the Strait of Hormuz remains blockaded for 129 days, oil supply is down 4.3 million barrels per day, and core PCE is running at 3.3%. Bitcoin's best week in three years isn't a flight to safety — it's a flight from administrators who think they can fix bond yields by decree while presiding over a 6% fiscal deficit.