US bank reserves fell by $77.579 billion on a weekly-average basis while the Treasury General Account rose by $81.153 billion. The US Treasury increased its third-quarter borrowing estimate by $68 billion, bringing the end-September cash balance to $950 billion. On August 5, financing details will determine whether liquidity pressure reaches Bitcoin-sensitive risk appetite. The bill-coupon split and auction sizes will show where the borrowing weight lands and whether it affects bank reserves.
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