🇺🇸 Bitcoin ripped past $72,000, its biggest single-day jump since March.
The spark was Trump hosting a room full of crypto executives at the White House, SEC and CFTC chairs included, with a push to finally get clearer rules through Congress.
Traders took one look at the guest list, decided Washington had gone soft on crypto, and piled in.
Anyone shorting got run over, more than $1 billion wiped out in about an hour.
The Treasury doubling its bond buybacks poured cheap money on the fire, and a lot of it found its way here.
A friendlier White House and easy money in the same week is the one combo the shorts really did not want to see.
The spark was Trump hosting a room full of crypto executives at the White House, SEC and CFTC chairs included, with a push to finally get clearer rules through Congress.
Traders took one look at the guest list, decided Washington had gone soft on crypto, and piled in.
Anyone shorting got run over, more than $1 billion wiped out in about an hour.
The Treasury doubling its bond buybacks poured cheap money on the fire, and a lot of it found its way here.
A friendlier White House and easy money in the same week is the one combo the shorts really did not want to see.