This wave of $BTC surging above 75,000 has people mostly focusing only on the news about Trump and the SEC.
The real trigger was the U.S. Treasury raising the limit on long-term bond repos to at least $4 billion, effectively doubling it. The 30-year yield fell from 5.337%, giving risk assets instant breathing room.
The shorts had piled up quite a bit of positioning in the range—then within 24 hours, more than $2.7 billion was liquidated, the highest in recent years. $ETH also surged alongside it, up nearly 20%.
As for ETFs, the net inflow on the day was about $517 million, the largest in a few months. This shows it’s not just a squeeze—real money is moving in.
The SEC’s Regulation of Crypto Assets proposal includes a small-issuance exemption; the direction is clear. But whether the bill becomes law still depends on Congress.
My view: improved liquidity is the core of this round. Going forward, the key is whether long-end yields can hold steady and whether ETF inflows can remain consistent. If it’s only a wave of forced liquidation, the pullback could be pretty harsh.
For reference only, not investment advice.
#BTC liquidity
The real trigger was the U.S. Treasury raising the limit on long-term bond repos to at least $4 billion, effectively doubling it. The 30-year yield fell from 5.337%, giving risk assets instant breathing room.
The shorts had piled up quite a bit of positioning in the range—then within 24 hours, more than $2.7 billion was liquidated, the highest in recent years. $ETH also surged alongside it, up nearly 20%.
As for ETFs, the net inflow on the day was about $517 million, the largest in a few months. This shows it’s not just a squeeze—real money is moving in.
The SEC’s Regulation of Crypto Assets proposal includes a small-issuance exemption; the direction is clear. But whether the bill becomes law still depends on Congress.
My view: improved liquidity is the core of this round. Going forward, the key is whether long-end yields can hold steady and whether ETF inflows can remain consistent. If it’s only a wave of forced liquidation, the pullback could be pretty harsh.
For reference only, not investment advice.
#BTC liquidity