Bitcoin surged above $76,000 on Friday, extending a powerful rebound as signs of returning institutional and spot demand began to replace the short squeeze that initially drove prices higher. Bitcoin traded around $76,478 during the European morning, building on a rally that accelerated after the US Treasury expanded long-dated bond buybacks and Washington delivered fresh crypto-friendly policy signals. The first leg was heavily mechanical. About $2.75 billion of Bitcoin short positions were liquidated on Wednesday, forcing bearish traders to buy back coins as prices jumped. The more important question now is whether genuine buyers can keep the rally alive after that fuel fades. https://twitter.