Bitcoin Nears $80,000 With a Tailwind Prior Tests Lacked: Treasury Buybacks

Bitcoin is up roughly 27% over the past month and testing $80,000 — a level it has revisited at least seven times since November 2024. This approach differs: on August 19 the Treasury announced up to $69 billion in debt buybacks with a $4 billion long-dated floor, pushing long-end yields lower. Purchases begin September 9, so the rally is pricing anticipated, not realized, demand.