Bitcoin Reclaims $70,000 First Time Since June and Trump Just Hinted at More

Bitcoin (BTC) just reclaimed $70,000 for the first time since June 2. The 78-day wait ended after President Donald Trump said a "sizable" government Bitcoin purchase has "been talked about."

The Fed's July minutes came and went without damage. Trump's remarks gave the rally its second engine of the day.

How Bitcoin Reclaimed $70,000 After 78 Days

The BTC price briefly tested $70,000 today. Two days ago, it sat below $64,000. In early July, it was near $62,000.

The move crushed the other side of the trade. Crypto shorts lost $1.23 billion in a single hour. One whale on Hyperliquid lost an entire 1,800 BTC short worth about $117 million.

Washington lit the first fuse. The Treasury said it will double its long-end debt buybacks to at least $4 billion per operation. The 30-year yield fell from 5.337%, its highest since 2007. Cheaper long-term money favors assets that pay no income.

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