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Bitcoin nears three-year weekly high
Bitcoin's price reached $78,500, achieving its largest weekly gain in three years of nearly 25%. The market surged following the U.S. Treasury Department's announcement of doubling its purchases of long-term bonds, which led to lower bond yields and boosted investor risk appetite. This was accompanied by the unwinding of over two billion dollars in short positions in the futures market and increased holdings by major owners and companies, helping the currency recover some of its previous losses, although it remains below the historic peak that exceeded $126,000 last year.
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