Bitcoin Tops $68,000 as Short Liquidations Hit $1.7 Billion

The trigger here is macro, not crypto-native: Treasury buyback plans eased long-end pressure, and crypto's high-beta bid followed. The 91% short skew in liquidations shows the move was forced positioning rather than fresh conviction, which matters because it can exaggerate the scale of the rally. Whether that macro impulse holds, or fades once the squeeze exhausts itself, is the open question.