Bitcoin Surges Past $80k Amid US Treasury Buyback Boost

Bitcoin has surpassed $80,000 in value, driven by risk-on sentiment and a bullish technical backdrop. This move comes as the US Treasury is actively addressing elevated yields in the long-dated bond segment, which is supportive for scarce assets.

The US Treasury's buyback operations have recently doubled to $4 billion, with estimates suggesting that between $80 billion and $200 billion could be available for larger interventions. This has contributed to a stronger performance in Bitcoin and other scarce assets, and this trend may continue if interventions persist.

Aerodrome Finance (AERO) and Virtuals Protocol (VIRTUAL) are also performing well, with AERO maintaining a constructive bullish stance as price action remains above its 50-day and 200-day EMAs. VIRTUAL is up nearly 3% on Tuesday, building on an 8% rise from the previous day.