Treasury Buyback Fills $6 Billion Again: So Why Is Bitcoin Below $80K?

A US Treasury buyback filled its full $6 billion cap in 20- to 30-year bonds on Tuesday. Bitcoin (BTC) did not rally the way it did in August., in fact, it fell below the $80,000 mark. Bitcoin traders who treated buybacks as a yield catalyst saw no such trigger. August’s rally followed a policy surprise, while Tuesday’s operation had sat on Treasury’s tentative schedule for weeks. What Made August Different From Tuesday? On August 19, Treasury said it would double its long-dated buybacks to at least $4 billion per operation. The announcement caught investors by surprise. Bitcoin gained about 7% that day, while the 30-year yield pulled back from its highest level in 19 years. Tuesday brought no such surprise.

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