Bitcoin Dips Below $78,000 as US Treasury Debt Buyback Program Fails

The US Treasury's $6 billion debt buyback program failed to meet expectations, leading to a sharp increase in long-end yields. As a result, Bitcoin briefly dipped below $78,000, while gold hovered around $4,407.

Analysts point out that the market is voting with its feet, indicating a lack of confidence in the program's success. Arthur Hayes, a well-known figure in the crypto space, has commented on this development, calling Bitcoin 'the fastest horse' during 'central bank money printing.'