Traders shorting Bitcoin saw more than $1.7 billion in positions liquidated over 24 hours, with $1.5 billion of that occurring in just four hours, after the price of the leading cryptocurrency briefly reached $69,000 on Wednesday. Bitcoin was recently trading at $68,253, up more than 5% over the period. This surge ends a period of low volatility recorded over the past month. The price jump comes after the U.S. Treasury announced it would double its government debt repurchases, and ahead of a meeting between President Trump and crypto industry leaders.
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