Bitcoin surged past $68,000 on Wednesday, climbing nearly 3% in 24 hours after the U.S. Treasury announced plans to more than double the size of its government debt repurchases. The price reached $68,473 in New York before briefly touching $68,982. This rally was driven by falling bond yields, which reduce the opportunity cost of holding non-yielding assets like bitcoin. The cryptocurrency’s volatility has reached historic lows, now lower than 98.5% of all days in its 17-year history according to Fidelity.
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