I was asked, what's my read on this current rally? My Answer: Seeing as this started following the announcement that the treasury is going to more than double their long-dated bond buybacks, I'd say the market has realized that liquidity is coming. That was the ignition. Short liquidations had been growing, especially after a few months of negative funding from February through to May and people expecting Bitcoin to move down below $50k. That's the fuel. At the same time, sellers are exhausted. Bitcoin has been chopping around in the $60k zone for 2 to 3 months, and whoever was going to sell has likely sold already. And that means nothing to put out this fire. The announcement started it, the shorts fuelled it, and there were very few sellers to stop it. #Crypto #Bitcoin #BondBuyback #Liquidations #SellerExhaustion bitcoin:native