Bitcoin Tops $75K for First Time in 3 Months as Treasury Buyback Fuels Short Squeeze

The move is less about organic demand than about positioning: a Treasury buyback plan gave an already-stretched short side a reason to unwind, and the resulting squeeze is doing much of the work. That distinction matters for anyone reading the rally as a change in the broader macro backdrop. The open question is whether the bid persists once forced covering fades, or whether the buyback story proves a one-off catalyst rather than a durable driver.