Bitcoin surpassed $68,000 on Wednesday, peaking at $68,605, up 5.8% over 24 hours, after trading between $59,000 and $67,000 for seven weeks. Short positions accounted for $1.74 billion of the $1.91 billion in derivatives liquidations recorded in a single day. This surge was triggered by the U.S. Treasury’s announcement that it would at least double the size of its long-term bond buybacks. Ether rose 9% to $2,086, bringing the total cryptocurrency market capitalization to $2.41 trillion, up 5.1%.
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