US Debt Surpasses $40 Trillion as BTC Breaks $70,000 Mark

The US federal debt surpassed $40 trillion for the first time in history, reaching a balance of $40.05 trillion. The interest expenditure within the year has reached $1.17 trillion.

In response to this development, the Treasury will double the single upper limit for 10-30 year Treasury bond buybacks to at least $4 billion.

The move is seen as a mild 'twist operation' by the market, with long-end yields falling significantly. This has boosted risk appetite and supported the US dollar's decline.

In other news, Bitcoin (BTC) has broken through the $70,000 mark, with a 7.9% increase in value. The total cryptocurrency market cap has also risen by 7.2%, reaching $2.45 trillion.