Bitcoin reached $69,749, its highest level in eleven weeks, with a 6% increase on the day. This surge followed the US Treasury’s announcement to at least double its debt buyback operations from $2 billion to a minimum of $4 billion per operation starting September 9. The US 30-year bond yield immediately fell to 5.19% after this announcement. The US national debt is approaching the symbolic threshold of $40 trillion, with interest payments reaching $1.4 trillion over the past twelve months. However, stablecoin liquidity on exchanges has decreased by $14 billion since May, which Bitfinex says is limiting Bitcoin’s upside potential.
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