Bitcoin broke above $70,000 for the first time since June, reaching $72,207 with a gain of roughly 15% since Monday. Short positions saw $3.1 billion in liquidations over 24 hours, with Bitcoin shorts accounting for $1.8 billion of that total. The rally was driven by the US Treasury doubling its long-dated debt buybacks to $4 billion per operation, and by Donald Trump’s push for the CLARITY Act at a White House meeting with crypto industry executives. Over 44,300 BTC were sent to exchanges by holders taking profits as Bitcoin cleared $70,000, raising the question of whether fresh spot demand can absorb selling once forced buying fades.
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