Treasury Buyback Sparks Consolidation in Bitcoin Price

Treasury Secretary Scott Bessent is set to announce a larger bond buyback operation, with Wall Street expecting a $5-6 billion move focused on long-term bonds.

This could reduce the supply of net long-dated debt and help contain elevated yields, as the announcement comes ahead of upcoming 10 and 30-year Treasury auctions.

Meanwhile, Bitcoin is consolidating just below $79,000, with the daily RSI moving away from overbought territory.

The weekly chart momentum remains bullish, driven by continued ETF inflows and treasury company buying.