Bitcoin Tops $80,000 After Treasury Doubles Long-Bond Buybacks
Updated
Updated · Yahoo Finance · Aug 27
Bitcoin Tops $80,000 After Treasury Doubles Long-Bond Buybacks
3 articles · Updated · Yahoo Finance · Aug 27
Summary
$80,000 was breached on Aug. 25 after the U.S. Treasury said it would double its long-dated bond buyback program, extending Bitcoin’s rebound from below $60,000 in late June.
Treasury buying initially pushed yields lower and lifted risk sentiment, while also feeding a debasement trade as investors worried about inflation, rising U.S. debt and the dollar’s purchasing power.
Short covering and solid spot-ETF inflows added momentum to the rally, which followed months of weakness after Bitcoin fell from roughly $95,000 in January.
Around $79,000 now, Bitcoin’s next leg higher may depend on continued ETF inflows and supportive liquidity conditions; renewed outflows, higher long-term yields or weaker risk appetite could trigger another sharp correction.