🚨 Bitcoin jumps 10% to nearly $71,600, reclaiming its 200 day moving average after 270 consecutive days below it.
The rally came after the US Treasury said it will at least double long bond buybacks from September 9, pushing 30 year Treasury yields lower and weakening the dollar.
Short liquidations topped $1.14 billion in just one hour, adding fuel to the rally.
The move marked Bitcoin’s sharpest single day gain in five months, although Glassnode warned that key on chain signals remain unconfirmed.
$BTC $ETH
The rally came after the US Treasury said it will at least double long bond buybacks from September 9, pushing 30 year Treasury yields lower and weakening the dollar.
Short liquidations topped $1.14 billion in just one hour, adding fuel to the rally.
The move marked Bitcoin’s sharpest single day gain in five months, although Glassnode warned that key on chain signals remain unconfirmed.
$BTC $ETH