Treasury Debt Buyback May Fuel Rally in Bitcoin and XRP
The U.S. Treasury is set to launch an active debt buyback program on September 7, which may boost market liquidity and support a rally in Bitcoin and XRP.
The buyback operations are expected to reach $16.5 billion, aiming to improve market conditions. This move has drawn attention from cryptocurrency traders, who believe it could have a positive impact on the prices of these two assets.
Bitcoin is currently trading near $80,000, with key liquidation points around $79,500-$82,000. Traders are also watching XRP, which eyes a breakout above $1.45, with resistance targets at $1.70 and $2.