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.

Crypto shares climb after Treasury's doubled buybacks boost risk assets  Reuters

Bitcoin jumped 4.6% to $72,475.25 – a roughly 12% gain over the past two days after the digital asset was trading near $63,000 earlier this week.

Federal Reserve Bank of San Francisco President Mary Daly suggested the US Treasury market signals that monetary policy is in a good place. She also sees no evidence that making preemptive cuts or hikes is an urgent problem to solve. She speaks on “Bloomberg Surveillance.” (Source: Bloomberg)

Bitcoin Approaches $70,000 After Treasury Announces Buyback Expansion  Forbes

Bitcoin rises after the US Treasury doubles bond buybacks. Lower yields, a weaker dollar and liquidity hopes boost BTC, crypto and gold amid inflation fears.

The 30-year Treasury yield fell nearly 9 basis points after hitting a 19-year high the prior session

The Treasury Department said Wednesday that it will more than double the size of government-debt buybacks, sending yields sharply lower and stocks higher at the market open.

Inflation accelerated to 2.9 per cent in July following the increase to the energy price cap, according to figures from the Office for National Statistics.