Bitcoin's market cap surged $416 billion in nine weeks, driven by a US Treasury buyback expansion, record ETF inflows, and a $3 billion short

Surging past $79,000, Bitcoin wipes out billions in short positions while sparking fresh debate over whether a major market reversal has begun.

Cryptocurrencies surged when US Treasury Secretary Scott Bessent announced the department would at least double the size of its bond buybacks.