World · Market · United States ·
Bitcoin rallies to $79K on Treasury bond buybacks, squeezing shorts
Bitcoin surged past $79,000 this week after the US Treasury announced a $4 billion bond buyback program designed to manage yields. The move triggered a squeeze of over $3 billion in short positions and marked the second-best weekly performance for Bitcoin since early 2021, with spot ETFs attracting $1.92 billion in inflows.
Why it matters for the crypto market
Treasury policy directly shifted market risk-off sentiment toward assets like Bitcoin and gold, demonstrating how government debt management now drives crypto trading.
Source: CoinDesk
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