$6 Billion Debt Buyback Fails to Impress Investors

The US Treasury's $6 billion debt buyback program has met with a lukewarm response, prompting investors to vote with their feet. The move saw long-end yields rise sharply higher, and as a result, Bitcoin briefly dipped below $78,000.

The market's reaction was likely due to the lack of legislative firepower compared to Paulson's buyback program, which has been accused of bluffing. Gold hovered around $4,407 during this time.

Meanwhile, analysts are looking at the technical landscape of Bitcoin, focusing on the 50-week moving average and resistance at May's highs. They're exploring conditions for a breakout and identifying key support levels below.