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… 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 would raise the […] The post Bitcoin’s $69,000 breakout now hinges on yields after Fed warns more tightening may be needed appeared first on CryptoSlate.