Treasury's Bond Buyback Surge Wipes Out $1 Billion in Crypto Shorts

The U.S. Treasury's recent decision to double its bond buybacks to $4 billion has sent shockwaves through the cryptocurrency market, triggering a massive rally that wiped out over $1 billion in Bitcoin shorts in just four hours.

According to roundtable.io, this sudden shift in government policy has made the U.S. Treasury the primary driver of crypto prices, rather than decentralization.

This development is particularly surprising given that market sentiment actually cooled from 'Greed' to 'Neutral' as Bitcoin surged, suggesting investors are more confused than ever despite the gains.