Bitcoin Jumps to US$73,033 as Treasury Buybacks Lift Crypto
Bitcoin closed at US$73,033, up 5.44%, after a US Treasury buyback plan and a short squeeze. Here is the Latin America read on the rally. The post Bitcoin Jumps to US$73,033 as Treasury Buybacks Lift Crypto appeared first on The Rio Times .
Bitcoin surged 5.44% on Thursday, breaking above its 200-day moving average for the first time in nine months. The rally continued Wednesday's momentum, driven by the US Treasury's pledge to double buyback operations for 10-to-30-year debt. Record spot-Bitcoin ETF inflows of $517 million helped sustain the upward trend. XRP saw the most significant gains, rising 14.85% to $1.2684.
Ethereum and Solana also increased by 3.33% and 2.65%, respectively, to $2,326 and $87.64. The rally reversed the defensive market tone that had dominated crypto markets for much of the summer, as bearish bets were forced to liquidate, resulting in over $1 billion in short position closures.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
