Treasury Buyback Boost Sends Bitcoin Soaring 22.4%

The US Treasury's decision to double its liquidity-support buybacks in longer maturities has sparked a rally in Bitcoin, pushing it up by 22.4% for the week - its strongest run since March 2024.

This move is seen as a key factor behind the surge in Bitcoin prices, with Bitwise Investments noting that the cryptocurrency's connection to gold has tightened in recent months.

According to data from Bitwise, the 90-day co-movement of Bitcoin and gold was above 0.5 on August 31, 2026 - the highest level observed since 2020.

Gold, which tends to be more sensitive to changes in Treasury yields, advanced around 5% during the same period.