#Bitcoin❗ demonstrated a strong surge, breaking above $70,000 and briefly rising above$BTC
$75,000 amid a large-scale short squeeze and macroeconomic news from the United States. This breakthrough ended a multi-month consolidation period within a descending triangle, where the price had been since May of this year. Record losses for the bears: A sudden jump in price triggered the largest one-day liquidation of short positions in history. Short sellers lost from $2.74 billion to $3 billion in just 24 hours. U.S. Treasury factor: The Treasury Department under Scott Bessent doubled the long-term bond buyback program (minimum of $4 billion per operation). This lowered government bond yields and pushed investors toward risk assets such as Bitcoin and gold. Regulatory pressure and policy: Donald Trump urged Congress to fast-track the passage of the cryptocurrency transparency law (Clarity Act). At the same time, the head of the CFTC instructed the agency to prepare its own regulatory rules in case the law is delayed. Near-term goals and the bullish scenario: #BTC #TrumpPressesCongressToPassClarityAct #BitcoinHitsIntradayHigh$75500 #WalmartFalls7%
$75,000 amid a large-scale short squeeze and macroeconomic news from the United States. This breakthrough ended a multi-month consolidation period within a descending triangle, where the price had been since May of this year. Record losses for the bears: A sudden jump in price triggered the largest one-day liquidation of short positions in history. Short sellers lost from $2.74 billion to $3 billion in just 24 hours. U.S. Treasury factor: The Treasury Department under Scott Bessent doubled the long-term bond buyback program (minimum of $4 billion per operation). This lowered government bond yields and pushed investors toward risk assets such as Bitcoin and gold. Regulatory pressure and policy: Donald Trump urged Congress to fast-track the passage of the cryptocurrency transparency law (Clarity Act). At the same time, the head of the CFTC instructed the agency to prepare its own regulatory rules in case the law is delayed. Near-term goals and the bullish scenario: #BTC #TrumpPressesCongressToPassClarityAct #BitcoinHitsIntradayHigh$75500 #WalmartFalls7%