Copper Hits Record High as US Treasury Bond Buybacks Boost Gold, Silver, and Bitcoin

Copper futures have reached an all-time high of $6.71 per pound due to supply shortages and concerns over dollar debasement, according to Pluang. The US Treasury's decision to double bond buybacks to $4 billion has weakened the dollar, boosting scarce assets like gold, silver, and Bitcoin.

Bitcoin has seen significant gains, briefly surpassing $81,000, its highest price since May, amid a short squeeze triggered by the Treasury's announcement. The rally pushed Bitcoin above $79,000, close to the key $83,000 weekly close needed to confirm a new bull market.