$BTC briefly climbed toward $69,500, marking a sharp rebound from around $64,100.

This came as U.S. Treasury plans to increase buybacks of long-dated government debt helped push Treasury yields lower, easing some pressure on risk assets.

More than $1.2 billion in crypto positions were liquidated within an hour as traders positioned for further declines were caught by the sudden rally.

The $69,500 level puts Bitcoin back near a key psychological zone after trading around $64,000 earlier in the week.

The broader market is now watching whether BTC can hold the gains as liquidity and bond-market conditions remain important drivers of price action.

Current market data later placed Bitcoin around $64,350, showing how quickly volatility can move the asset away from intraday highs.

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