Bitcoin surges above $68,000, liquidating $1.4 billion shorts as Treasury buybacks boost risk appetite
BTC rose about 6% while ether, solana and crypto stocks climbed after the Treasury doubled the size of its bond buybacks.
Source: CoinDesk
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DW NOTE
The Treasury isn't buying bonds to help Bitcoin — it's buying to keep its own auction failures from becoming visible. When risk assets rally on news of sovereign debt repurchases, you're watching a market that has forgotten the difference between liquidity and solvency.