Cryptocurrency Prices Surge as US Treasury Boosts Debt Buyback Operations

The US Treasury's decision to double its debt buyback operations has fueled a surge in cryptocurrency prices, with Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all experiencing significant gains.

BTC has climbed nearly 20% this week, trading at $74,700 on Friday as it breaks above major Exponential Moving Averages (EMAs). The 50-day, 100-day, and 200-day EMAs sit well below price, suggesting a firmly supported uptrend after the strong surge in volume.

Ethereum bulls are also in control of momentum, with ETH trading at $2,354 on Friday. It has extended its advance well above key EMAs, reinforcing a bullish near-term bias. The 50-day EMA, 100-day EMA, and 200-day EMA clustered between roughly $1,920 and $2,130 sit comfortably below the market.

Ripple (XRP) has surged nearly 30% this week, trading at $1.284 on Friday. It is retaining a constructive near-term tone as it holds above the 50-day and 100-day EMAs while still capped beneath the 200-day EMA.