Bitcoin's Sharpest Rally in Five Months Flips Markets From Bearish to Coin Flip
In brief Bitcoin jumped as much as 8.7% Wednesday to an intraday high of $69,749, its steepest one-day move since March 4 and its highest price since June 1. On Myriad, prediction odds flipped from roughly 70-30 favoring a bearish decline to a near coin flip within 24 hours.
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Key Facts
- Fact 1: In brief Bitcoin jumped as much as 8.7% Wednesday to an intraday high of $69,749, its steepest one-day move since March 4 and its highest price since June 1.
- Fact 2: On Myriad, prediction odds flipped from roughly 70-30 favoring a bearish decline to a near coin flip within 24 hours.
- Fact 3: Treasury plan to double its long-bond buybacks and more than $1 billion in short liquidations wiped out in a single hour.
- Fact 4: Bitcoin ripped through $69,000 Wednesday, climbing as much as 8.7% to an intraday high of $69,749.
In brief Bitcoin jumped as much as 8.7% Wednesday to an intraday high of $69,749, its steepest one-day move since March 4 and its highest price since June 1. On Myriad, prediction odds flipped from roughly 70-30 favoring a bearish decline to a near coin flip within 24 hours.
The rally followed a U.S. Treasury plan to double its long-bond buybacks and more than $1 billion in short liquidations wiped out in a single hour. Bitcoin ripped through $69,000 Wednesday, climbing as much as 8.7% to an intraday high of $69,749.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
Original source: Decrypt
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