US Treasury’s plan to double debt buyback operations to $4 billion sparks risk-asset rally, lifting BTC to $69,749.
Bitcoin surged 6% to $69,749, its highest level since June 2, following the US Treasury’s announcement to at least double debt buyback operations to $4 billion starting September 9. The move aims to boost liquidity in longer-dated securities, driving a broader risk-asset rally.
The Treasury’s buyback expansion follows a prior cap of $2 billion per operation. US 30-year bond yields dropped 9bps to 5.19% after hitting near 20-year highs. Stablecoin liquidity on exchanges has declined by $14 billion since May, limiting further BTC upside, according to market observers.
US equities opened higher in tandem with the Treasury’s liquidity injection, reinforcing the positive sentiment across risk assets.