#BTCBreaks75000

Bitcoin Surpasses $75,000:
Bitcoin rose by more than $11,000 in just 48 hours, climbing above $75,000. An analyst says BTC, which reached its highest level since the end of May, may be entering a new bull market.
Bitcoin had been stuck in the $62,000-$65,000 range for a long time. Its attempts to break above $65,000 were unsuccessful, and it had most recently retreated to the $62,000-$63,000 region following sell-offs last week.
The picture suddenly changed on Wednesday. Bitcoin rose approximately 12% within 24 hours, first surpassing $70,000 and then breaking above the $71,000-$72,000 region. After pausing for several hours, buyers stepped in again, and BTC reached approximately $76,000 this morning. The price was around $75,000 at the time of writing.
Thus, Bitcoin’s rise in less than 48 hours reached approximately 18%.
Why Did Bitcoin Suddenly Rise?
There is no single reason for the rise. However, developments from the US are among the most important factors behind the move.
The US Treasury Department announced that it would raise the per-operation limit on its buybacks of long-term government bonds from $2 billion to at least $4 billion in order to support liquidity. Following the decision, bond yields declined while appetite for riskier assets increased.