Bitcoin (BTC) jumped 5.8% to levels above $69,500 on Wednesday, wiping out $1.23 billion in bets against it in one hour. Is the crypto bull market back?
The rally ran market-wide, with Ethereum (ETH) up 9% to $2,088, Solana (SOL) up 6.5%, and XRP (XRP) up 6.9%. One decision in Washington set it off.
A $4 Billion Signal From the US Treasury
The US Treasury said it will double its buybacks of long-term government bonds to at least $4 billion per operation. In plain terms, the government stepped in as a buyer of its own debt.
The timing couldn’t be better for risk assets. The 30-year yield, the interest rate the US pays on its longest debt, had just hit 5.337%. That was its highest level…
