Crypto and gold surged together last week while equities fell, prompting quant trading firm Wintermute to call Bitcoin‘s (CRYPTO: BTC) best week since March 2024 “a debasement board.”
Wintermute’s weekly market update on X broke down the split between assets outside the fiscal complex and those priced off it:
What Actually Triggered the Move
According to the report, six weeks of compressed volatility had stacked a dense band of short liquidation levels directly above Bitcoin’s range.
When the Treasury announced it would at least double long-end bond buybacks to $4 billion per operation, Bitcoin cleared that ceiling and turned the short book into the buyer.
