Bitcoin briefly hits $70,000 for the first time since June. Here is why

The largest crypto asset rose more than 7% on Wednesday after several catalysts sent crypto-related assets higher.
Coins in this story
Discussion
Related stories

Bitcoin’s $69,000 breakout now hinges on yields after Fed warns more tightening may be needed
Bitcoin ran from around $64,100 to nearly $70,000 within hours on Aug. 19, once the US Treasury unexpectedly doubled its planned buybacks of long-dated government debt. The move pushed bond yields lower and forced roughly $1.4 billion of crypto short positions out of the market in just four hours. Treasury said it…

Bitcoin's Sharpest Rally in Five Months Flips Markets From Bearish to Coin Flip
Bitcoin's steepest daily gain since March caught traders off guard, and Myriad's pump-or-dump market swung from 70-30 odds to nearly even in a single day.

Down 50% on crypto and burning $8 million in cash, this Nasdaq firm just pivoted to event robots to survive
Its holdings were valued at $5.21 million on June 30, while order economics and sale timing remain undisclosed. The post Down 50% on crypto and burning $8 million in cash, this Nasdaq firm just pivoted to event robots to survive appeared first on CryptoSlate.