The two-day short liquidation total has reached about $3.8 billion, after Thursday's figure set a record going back to 2021.

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.