Bitcoin Surged More Than 20%. Four Market Insiders Explain Why

This story was originally published on HackerNoon at: https://hackernoon.com/bitcoin-surged-more-than-20percent-four-market-insiders-explain-why.
Bitcoin jumped 23% to $81,000 as Treasury buybacks, Clarity Act momentum, $1.9B in ETF inflows and a $4B short squeeze converged. Can the rally hold?
Check more stories related to undefined at: https://hackernoon.com/c/undefined. You can also check exclusive content about #web3, #crypto, #ethereum, #good-company, #ethra, #leveraged, #ault-blockchain, #bitcoin, and more.

This story was written by: @ishanpandey. Learn more about this writer by checking @ishanpandey's about page, and for more stories, please visit hackernoon.com.

Bitcoin rose roughly 23% in a week, touching $81,000 before easing back toward $79,000. Four forces stacked up at once: the U.S. Treasury doubling buybacks of long-dated debt to at least $4 billion per operation, which pushed yields and the dollar lower; White House pressure on Congress to move the Clarity Act; about $1.9 billion of spot ETF inflows over five trading days, the strongest week in roughly 10 months; and more than $4 billion in bearish positions liquidated.