Bitcoin Rockets Past $68,000 as Treasury Doubles Debt Buybacks

Bitcoin has surged past $68,000 after the US Treasury announced plans to more than double its government debt repurchases. The price jump of nearly 3% over a 24-hour period is attributed to the drop in yields and increased liquidity support for the fixed income markets.

The Treasury Department stated that it will increase the size of its buyback operations due to market pressure and surging yields, which have not been seen in nearly 20 years. This move is expected to provide greater liquidity support in longer-dated nominal sectors.

Bitcoin's price behavior has been characterized as 'risk-on' as it surged with stocks on the news, while the US dollar fell sharply. The coin's volatility remains at record lows, with its lowest level of volatility experienced in 2025.