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Bitcoin breaks through $75,500 while analyst calls current rally ‘premature’

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Bitcoin (BTC) has broken through the $75,000 line, a high the cryptocurrency market has not seen in over three months.

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Summary

Bitcoin (BTC) has broken through the $75,000 line, a high the cryptocurrency market has not seen in over three months. 's bitcoin price page, the world's largest cryptocurrency is up more than 8.9% over the past 24 hours, currently trading at $75,560. The main driver behind this rally is clear: the U.S. Treasury Department's announcement to at least double the size of liquidity support buyback operations for longer-dated nominal coupon securities across the 10- to 30-year segment. This was coupled with a few more positive catalysts, including the SEC's latest crypto proposal and a White House meeting with President Donald Trump and prominent crypto executives. This led to a surprise rally that liquidated over $2.75 billion in bitcoin shorts on Wednesday.

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#Bitcoin #U.S. Treasury #SEC