Treasury buybacks are not QE, analysts said, but the move helped pull long-term yields off 19-year highs and triggered a record short squeeze in a market already leaning too bearish.
- Bitcoin surged about 25 percent past $78,000 after expanded Treasury buybacks helped lower long-term yields and triggered the liquidation of roughly $4 billion in bearish crypto positions.
- Falling Treasury yields can benefit bitcoin by reducing the appeal of relatively safe, interest-paying government debt, though analysts cautioned that the modest buyback program was a catalyst rather than a fundamental shift.
- About $650 million in weekly inflows to spot bitcoin exchange-traded funds supported the rally, while traders are watching whether bitcoin can remain above its 200-day moving average near $69,000.
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The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters :
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Cathie Wood says smart investors need to start watching where AI agents spend money
U.S. added just 29,000 jobs in September, with unemployment rate rising to 4.2%
Crypto traders are in risk-on mode as bitcoin dominance nears return to 60%
Original sourceCoinDesk
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