Bitcoin jumped 5.8% above $69,500 on Wednesday, wiping out $1.23 billion in short bets within one hour. This rally, which lifted the broader market with Ethereum up 9%, Solana up 6.5%, and XRP up 6.9%, was triggered by the US Treasury announcement to double its buybacks of long-term government bonds to at least $4 billion per operation. In 24 hours, short liquidations reached $1.57 billion, affecting more than 114,000 traders, with three large wallets on Hyperliquid losing a combined $194 million. The Crypto Fear and Greed Index moved to 46, steadily approaching the neutral zone.
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