Bitcoin Blasts Past $75,500 on Treasury Buyback Boost

Bitcoin's price surged past $75,500 after the U.S. Treasury announced plans to at least double its long-term bond buybacks on August 19.

The move was fueled by renewed inflows into Bitcoin ETFs and heavy short liquidations, with over $3 billion in crypto shorts liquidated as BTC climbed above $75,000.

However, analysts caution that the price must hold at $70,000 and absorb profit-taking to confirm a broader breakout, signaling short-term risk despite bullish signs from ETF demand, liquidity, and adoption.