Bitcoin (BTC) surged past $80,000 on Friday as global oil market woes saw US bond yields rebound.
The price jump came as concerns about oil supply led to a reversal in US bond yields. The US 30-year yield rose by 90 basis points to 5.34% amid the uncertainty.
Crypto markets saw $250 million in short positions liquidated over four hours, with cumulative cross-crypto short liquidations near that amount.
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