Bitcoin surged nearly 8% to briefly top $69,000–$70,000, while Ether jumped ≈19% to reclaim $2,200+. The move followed the U.S. Treasury’s decision to at least double long-dated bond buybacks and an SEC proposal for a new crypto issuance exemption framework. Over $1B in BTC shorts were liquidated within an hour.
Matters because: Treasury liquidity support and a softer SEC posture may reduce near-term downside risk for crypto, though part of the rally looks driven by short covering.