Bitcoin climbed from $64,476 to $69,418, a gain of approximately $4,942 or 7.7% in 24 hours.Today was not noise. Bitcoin cleared $70,000 intraday for the first time since June, driven by a concrete macro catalyst: the US Treasury announcing at least a doubling of long-end bond buybacks from September. The $1.4 billion short liquidation cascade accelerated the move, derivatives sentiment flipped from 70-30 bearish to near-even, and RSI hit 73.93. Near-term risk has shifted: the prior range-bound, short-heavy setup has been structurally repriced in a single session.
Bitcoin surged 7.7% to $69,418, briefly touching $70,000 for the first time since June, clearing the 200-day SMA at $68,938.
The US Treasury announced at least a doubling of its long-end bond buyback operations from September, the primary macro catalyst for today's broad risk-asset rally.
Approximately $1.4 billion in crypto shorts were liquidated, flushing the bearish positioning that had capped the prior six-week range.
Spot Bitcoin ETFs added $189 million on Tuesday alone, lifting August net inflows to $951 million, well above the 30-day average of $30.3 million per day.
Bitcoin's hash rate stands at 927.8 EH/s with fees remaining low at 4 sat/vB, confirming network fundamentals remain intact independent of today's price volatility.
Market Snapshot
Market Cap
$1.39T
24h Volume
$45.59B
Dominance
56.6%
Founding Member
Join as one of the first 100 founding members and get full Pro access, free, permanently.