Traders bet bitcoin was stuck below $67,000. The Treasury blew that trade up in one afternoon
A surprise bond buyback triggered a squeeze that liquidated over $4 billion in bearish crypto bets and sent bitcoin past $77,000.
A surprise bond buyback triggered a squeeze that liquidated over $4 billion in bearish crypto bets and sent bitcoin past $77,000.
BELLINGS Intelligence Score: 28
Why it matters
A surprise Treasury bond buyback triggered a significant short squeeze in bitcoin, liquidating over $4 billion in bearish crypto bets and pushing bitcoin well above $67,000, which is notable market activity affecting crypto traders and possibly broader risk sentiment.
Sources
Fortune
Traders bet bitcoin was stuck below $67,000. The Treasury blew that trade up in one afternoon
A surprise bond buyback triggered a squeeze that liquidated over $4 billion in bearish crypto bets and sent bitcoin past $77,000.