Bitcoin's $80K Test Has a New Tailwind: Treasury Buybacks

Bitcoin has climbed about 27% in a month and is testing $80,000 — a level it has hit at least seven times since November 2024. This time differs: on August 19, the Treasury announced up to $69 billion in debt buybacks, including a $4 billion floor on long-dated bonds, pushing long-end yields (interest rates on long-term government debt) lower. Purchases begin September 9, so the rally reflects anticipated demand, not realized demand.