Bitcoin surpassed $75,500 on Friday during Asian trading, its highest level since May, with a weekly gain of nearly 20%. US Treasury Secretary Scott Bessent announced the doubling of the long-term bond buyback program to at least $4 billion per operation, which pushed 30-year yields down to the 5.19-5.24% range and boosted risk appetite. This liquidity injection triggered a short squeeze with $222 million in short positions liquidated in a single hour on Friday, and a record $5.3 billion in daily trading volume for spot Bitcoin ETFs. This rally comes as US public debt has just crossed the $40 trillion threshold.
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