Bitcoin and Gold Soar as US Debt Surpasses $40 Trillion

The US government's debt has surpassed $40 trillion, prompting investors to seek safer havens. The Treasury Department's response to this milestone was to announce long-term debt buybacks, which have led to a decline in Treasuries and a weakening dollar.

In August 2026, Bitcoin surged by roughly 23% as it breached the $77,000 mark, while gold prices rose in tandem with the dollar's decline. The correlation between Bitcoin and gold hit multi-year highs, surpassing 0.5, in early September.

However, options market data reveals a split in sentiment towards these assets. While gold has seen overwhelming bullish positioning, Bitcoin's options market shows a more balanced distribution of bets.