The move triggered nearly $2 billion in crypto liquidations and lifted crypto-linked stocks, with Strategy and Bitmine gaining around 10%.

BTC rose 6% while ether, solana and crypto stocks climbed after the Treasury doubled the size of its bond buybacks.

Bitcoin rose above $68,000 and ether gained 9% after the U.S. Treasury doubled long-end bond buybacks, forcing $1.91 billion of liquidations, 91% of them shorts.