US Debt Buyback Boost Sends Bitcoin To Multimonth High Above $69,000
The move lifted risk assets as Treasury said its buyback operations will rise to $4 billion and Bitcoin hit $69,749, its highest since June 2.
- On Wednesday, Bitcoin spiked 6% to $69,749, its highest level since June 2, after the U.S. Treasury Department announced a liquidity move affecting broader markets.
- Starting Sept. 9, the Treasury Department will double debt buyback operations to $4 billion, aiming to provide liquidity support for longer-dated nominal sectors.
- U.S. 30-year bond yields hit a nearly 20-year high on Tuesday, then fell to 5.19% immediately after the announcement, reflecting shifting market sentiment.
- The Kobeissi Letter noted that annual interest payments reached $1.4 trillion as national debt approaches $40 trillion; Peter Boockvar of One Point BFG Wealth Partners called the move "NOT a debt paydown."
- Crypto exchange Bitfinex cautioned that "until stablecoin supply turns, the rally stays unfunded," noting that stablecoin supplies on exchanges have decreased $14 billion since May.
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Bitcoin, Ethereum, and XRP are suddenly soaring to fresh highs: Why are crypto prices up today?
The prices of major cryptocurrencies, including Bitcoin, Ethereum, and XRP, are surging today. The upward movement is being cheered by investors in the digital tokens, which have, until recently, experienced a pretty horrendous 2026. But over the last 24 hours, things have finally begun to turn around. As of the time of this writing, Bitcoin is up nearly 11.5% in the past day, Ethereum is up more than 19%, and XRP is up more than 15%. Other coin…
U.S. Treasury Secretary Scott Bescent announced that the scale of Treasury bond buybacks would be doubled to stabilize the U.S. bond market. Following this, the price of Bitcoin surged as bond yields fell and investor sentiment in virtual assets recovered. According to CoinMarketCap, a global virtual asset market data site, the price of Bitcoin was recorded at $69,290.29 as of 8:05 AM on the 20th. This is 7% higher than 24 hours ago.
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