US Treasury doubles buyback cap on long-dated bonds to $4B per operation, sparking a Bitcoin rally toward $70K and fueling strategist targets up

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.

Bitcoin rises after the US Treasury doubles bond buybacks. Lower yields, a weaker dollar and liquidity hopes boost BTC, crypto and gold amid inflation fears.