Treasury’s $14 Billion Buyback Triggered a $3.5 Billion Crypto Short Squeeze

Bitcoin topped $70,000 after larger Treasury buybacks, but fading bond-market relief suggests the rally was driven by a short squeeze. The Treasury's $14 billion buyback triggered a $3.5 billion crypto short squeeze, according to Cryptonews. The price movement indicates that the surge may be temporary, as underlying market conditions remain uncertain.