Treasury's Bond Buyback Boost Sends Bitcoin to $69K, Ethereum to $2K

Cryptocurrency markets surged today in response to a major policy update from the U.S. Department of the Treasury regarding its debt management operations.

The Treasury announced it is increasing, by at least double, the size of its liquidity support buyback operations for longer-dated nominal coupon securities.

This change affects the 10-year to 20-year sector and the 20-year to 30-year sector. The maximum purchase cap will increase from $2 billion per operation to at least $4 billion per operation, starting on September 9, 2026, and remaining in place through November 4, 2026.

The Treasury stated that this intervention is designed to improve liquidity in longer-dated bonds and calm the plumbing of the long end of the Treasury market.