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$BTC surged ~7% to nearly $69,750, driven mainly by a massive short squeeze after crowded bearish positioning collided with Treasury’s increased long-term bond buybacks, which pushed the 30-year yield lower. However, ETF outflows and miner selling suggest the move was more positioning-driven than proof of strong, lasting demand. The bigger long-term development was the SEC’s proposed “Regulation Crypto Assets” framework, which could establish clearer rules for crypto offerings if finalized