Saxo Bank, a Danish bank serving 1.5 million clients, said Bitcoin could emerge as a hedge against currency debasement. Analyst Neil Wilson pointed to a breakout from a $62,000-$66,000 trading range to above $70,000, instability in the U.S. Treasury market, ballooning government debt, ongoing Treasury buybacks, progress on the CLARITY bill and supportive remarks from President Donald Trump. The bank said those factors, alongside a short squeeze, strengthened the case for Bitcoin as a scarce non-sovereign asset and could support institutional adoption.