The broader cryptocurrency market is regaining momentum as improving liquidity conditions fuel expectations of another bullish leg. Bitcoin has broken past the psychologically important $70,000 mark after rallying 7% on Wednesday and it is now trading above $71,000. The rally followed the US Treasury Department's decision to expand buyback operations for longer-dated government securities in an attempt to support market liquidity and ease rising borrowing costs. https://twitter.com/InvezzPortal/status/2090353208761758079?s=20 US Treasury doubles long-term bond buybacks The US Treasury announced that it will at least double the maximum size of its liquidity-support buybacks for longer-dated nominal securities. The maximum value of each operation will increase from $2 billion to at least $4 billion.