🚨 DID ONE U.S. TREASURY ANNOUNCEMENT JUST SEND BITCOIN TO A NEW 80-DAY HIGH IN LESS THAN 24 HOURS? Bitcoin surged 12% to $72,000, hitting its highest level in 80 days. And possibly, the move didn’t even start in crypto. The Treasury announced it will at least DOUBLE long-term bond buybacks from $2 billion to at least $4 billion per operation starting September 9. Within hours, the 30 year Treasury yield crashed from a 2007 high of 5.337% to around 5.18%. The DXY also dropped 0.71%. And this is where Bitcoin benefits. When Treasury yields fall, investors earn less for holding government bonds, making non yielding assets like Bitcoin and gold relatively more attractive. At the same time, falling yields can weaken the dollar. Since Bitcoin and gold are priced in dollars, a weaker dollar can provide another tailwind to their prices. That combination pushed money toward risk and scarce assets, while the sudden rally forced bearish traders out of their positions. Nearly $3 BILLION in crypto shorts were liquidated in a single day, the highest ever short liquidation. And the bigger Treasury buybacks haven’t even started yet.(Crypto Rover)