The US Treasury doubled its bond buyback operations to $4 billion, sparking a rally that pushed Bitcoin past $70K and gold to $4,485 per ounce.

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.

Gold was already coiling. Treasury just lit the fuse.

Gold prices soared close to a two-month peak on Thursday after the U.S. Treasury announced bolstered liquidity measures. With yields falling and the dollar weakening, gold became…