Bitcoin surges 6% to $68,000, triggers record short liquidation
Bitcoin (BTCUSD) surges 6% to $68,000, triggering what the source says is the largest single-day short liquidation event in its history after the U.S. Treasury doubled long-term bond buyback operations.
S. Treasury doubled its long-term bond buyback operations. 2 billion in Bitcoin short positions within just 60 minutes as BTC surged above $68,000. Crypto analyst Byzantine General independently confirmed with multiple sources that Bitcoin recorded its largest-ever single-day short liquidation event.
“It cannot be understated how insane this is,” he wrote on X. What Triggered the Move? Joe Consorti posted on X that Bitcoin surged directly on the Treasury announcement that it would buy back $4 billion of long-term debt to increase liquidity support. “Welcome back, money printing,” Consorti wrote.
The Treasury doubled its bond buyback operations from $2 billion to at least $4 billion per operation for bonds maturing in 10 to 30 years, as reported Wednesday. 8%. Why The Setup Was Already Building? 1% median gain over the following 60 days with a 78% win rate.
At current depressed valuations, that win rate climbs to 87%. 71 million outflow. 57 million, capturing nearly 76% of total inflows according to SoSoValue. BTC Price Prediction: Technical Analysis BTC breaks decisively out of its three-month consolidation range Wednesday, clearing the cup-and-handle pattern that formed since the June bottom near $56,000.
70, the sharpest reading since the June top, confirming genuine momentum. The measured move target projects toward $71,400, which lines up almost exactly with the 200-day EMA at $71,489. Key levels for BTC: $71,400 to $71,500 — measured move target and 200-day EMA $66,364 — EMA 100, first support on any pullback Photo via Shutterstock