Bitcoin surged 25% to nearly $80,000 after US Treasury tweaked its bond buyback policy

Bitcoin surged roughly 25% in a matter of days to nearly $80,000 after the US Treasury adjusted its bond buyback programme. The move helped pull long-term yields off 19-year highs and triggered a record short squeeze in a crypto market that had been heavily bearish. Analysts stressed that the buybacks are not the same as quantitative easing.