Bitcoin approaches $70000, triggering a large-scale short liquidation, with over $1 billion of short positions liquidated within an hour. US cryptocurrency concept stocks collectively rose, with Strategy up 12.68% to $104.25, Coinbase up 9.05% to $159.47, Circle up 9.56% to $78.59, and BitMine up 10.72% to $20.24. The US Treasury Department announced that since September, it will at least double the size of the long-term treasury bond bond repurchase program, driving the overall rise of risky assets. According to Decrypt, this round of gains has squeezed short positions in the cryptocurrency derivatives market and forced US stock investors who shorted Strategy and Coinbase to make up for them.
