Bitcoin breaks $70,000: Why Treasury move could push BTC toward $75,000 next now

Bitcoin moved above $70,000 for the first time in more than two months, showing that more investors are buying the cryptocurrency again. Bitcoin rose more than 3% to above $71,500, its highest level since June 1. It was trading around $71,936, up more than 3.5% in the past 24 hours. Bitcoin is also about 15% higher since Monday.

US Treasury move helps Bitcoin rally
One major reason behind the Bitcoin rally was a move by the US Treasury to increase its purchases of long-term US government bonds.