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Treasury buyback signals and a new SEC crypto proposal converged in the same session, sending $BTC to $69,000 and lifting $ETH by 10%.
The move forced nearly $2 billion in crypto liquidations, clearing short positions and injecting mechanical buying into an already rising tape.
Crypto-linked equities followed: Strategy and Bitmine each gained around 10%. The mechanism behind the move The nearly $2 billion liquidation figure is the place to start.
When short positions close by force, those sellers become buyers against their will as price climbs through their stop levels. The cascade amplifies whatever directional momentum the catalysts first introduced.
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