Bitcoin $BTC first broke above $72,000 since early June. The 24-hour gain is about 5%. The U.S. Department of the Treasury expanded the long-bond repurchase program to twice the size to $4B per transaction, pushing the 10-year U.S. Treasury yield lower and forcing short-sellers to cover—within 24 hours, more than 114,000 liquidations occurred across the global crypto market, with total short liquidation amounts exceeding $1.59 billion. Crypto assets have surged sharply for two straight days, showing a clear divergence from the trend in traditional risk assets, with $ETH climbing more than 20% cumulatively over the two days. U.S. Treasury Secretary Bessent warned that sanctions on Iran’s economy will be tightened further. Geopolitical risk premia drove WTI crude oil above $86, and amid a backdrop of pressure on U.S. stocks, the recent performance of crypto assets is worth continued monitoring. $BTC $ETH is for informational purposes only and does not constitute investment advice