Bitcoin jumps to $69,700 after US Treasury doubles long-term bond buyback cap to at least $4 billion
AI Market Summary
US Treasury doubled the cap on long-dated bond buybacks (to at least $4B per operation) for 10–20y and 20–30y maturities, pressuring yields lower and improving risk-asset positioning. After the announcement, 10y and 30y yields fell 6bps and 9bps, coinciding with a sharp BTC rally that triggered a major short squeeze. Derivatives saw ~$1.59B liquidations, amplifying the move via forced buying.
Impact level
● High
Affected assets
BTC/USDT+8.03%
AI Insight · BTC/USDTAI Insight
▲ Bullish
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The US Treasury said it will double the per-operation cap of its long-term bond buyback program from $2 billion to at least $4 billion, targeting 10- to 20-year and 20- to 30-year Treasuries from September 9 through November 4. After the announcement, the 10-year yield fell 6 bps to 4.647% and the 30-year yield slid 9 bps to 5.196%. Bitcoin then surged from around $65,400 to $69,700, gaining more than $2,000 in a single minute intraday. Crypto derivatives also swung sharply, with total liquidations reaching $1.59 billion over 24 hours, including $746 million in Bitcoin short liquidations.
