Bitcoin Price Jumps $15k After US Treasury Doubles Bond Buybacks
The Bitcoin price surged by $15k after the US Treasury announced it would double down on its bond buyback, raising it to $4 billion in September. This move sent a positive liquidity signal to the market and triggered an estimated $3, $4 billion in short liquidations.
Bitcoin's price jumped from the low $62,000s to near $80,000, with trading at $77k on Sunday. The move was catalyzed by the US Treasury doubling long-dated bond buybacks, lower yields, a weaker dollar, and strong inflows into spot Bitcoin ETFs.
Analysts at Bernstein and Standard Chartered tied the BTC breakout above 70,000 to the buyback decision, calling it a key trigger for the rally. They warn that once shorts are flushed, forced buying disappears, and the next leg must come from genuine spot demand.