Bitcoin Rockets Past $71K as Treasury Buybacks Trigger $3B Short Liquidation Cascade

Welcome to Stock Market Today — your market briefing with actionable insights on stocks, bonds, crypto, and the events moving markets. Let's get into it. Bitcoin punched through seventy-one thousand eight hundred dollars, Ethereum ripped nineteen percent to twenty-two eighty-six, and crypto equities went vertical—this is a debasement trade, not a risk-on rally. Treasury Secretary Scott Bessent doubled long-term bond buybacks from two billion to four billion per operation, slamming thirty-year yields from five point three three percent to five point one eight. Bitcoin moved with gold, not growth stocks. Gold spiked three percent to forty-five fifty per ounce while the Dollar Index dropped to ninety-eight point seven seven. Bitcoin broke above the sixty-six thousand six hundred dollar inverse head-and-shoulders neckline, targeting seventy-six thousand. Bitcoin ETFs pulled five hundred seventeen million dollars Wednesday—largest inflow since May fourth. President Trump held a White House event with Coinbase, Gemini, Ripple, and Chainlink executives, pushing Congress to pass the Clarity Act. Senate vote scheduled September fifteenth. Trump revealed the C F T C is exploring a pathway for Hyperliquid to operate in the U S. HYPE token surged twenty-one percent. Coinbase shares jumped eleven percent, MicroStrategy up ten percent in premarket. Over three billion dollars in short positions got wiped out in twenty-four hours—largest forced closure on record. Bitcoin accounted for one point six seven billion, Ethereum one point one four billion. The S E C proposed new crypto rules offering safe harbor protections. Treasury announced stablecoin rules under the G E N I U S Act with comments due mid-October. The Stablecoin Supply Ratio climbed to eleven point six nine. Bitcoin's breakout with restrained funding rates indicates institutional repositioning, not retail FOMO. Bottom line: This breakout has fundamental, technical, and regulatory catalysts converging. Bitcoin reclaimed key levels, ETF inflows are accelerating, and Clarity Act passage odds are rising. That wraps your market intel — trade smart out there. For deeper insights and real-time analysis, visit capitalcopilot dot i o.