Bitcoin Soars by $10,000 in a Week, Short Sellers Lose $3 Billion
Bitcoin surged by over $10,000 in a week, surpassing $70,000 for the first time since May, as short-sellers lost approximately $3 billion in 24 hours in the largest short squeeze since 2021. The rally was triggered primarily by the US Treasury's announcement to double its long-term bond buyback operations to support market liquidity, a move interpreted as a signal of potential monetary easing. This led to a drop in long-term Treasury yields and prompted traders to seek Bitcoin as a hedge.
The price breakout accelerated automated liquidations of short positions that had accumulated during a prior six-week trading range. The surge coincided with renewed regulatory momentum, including President Trump's call for Congress to pass the CLARITY Act and a White House meeting with crypto industry leaders, reinforcing perceptions of a more favorable political environment.
Major stock indices mostly rose in response to the Treasury's announcement, while Bitcoin's momentum indicators strengthened. The move marks a potential return to the $80,000 level last seen in May.
cryptonews.ru3 год тому
