Treasury doubled its bond buybacks to calm yields. Bitcoin took the bid instead.
On Aug 19 the US Treasury raised its max per-operation long-bond buyback from $2B to $4B. The 30Y yield still sits near 5.25%, days after printing 5.33% - a 19-year high (CNBC, CoinDesk).
The buyback did not tame the long end. It signalled someone has to absorb the debt. That is the trade bitcoin was built for - and spot BTC ETFs just logged a sixth straight day of inflows, $337M on Aug 24 alone.
BTC tagged $81,255 overnight, then got sold back toward $78.7K. Longs are defending the breakout they just bought. If the long end stays sticky, the debasement bid does not go away - $BTC leads, $ETH and $SOL carry the beta. If yields crack, this leg reprices.
Is $81K resistance, or the retest before the next leg?
#Write2Earn #Bitcoin #BondYields #CryptoNews #ETFFlows
Not financial advice. DYOR.
On Aug 19 the US Treasury raised its max per-operation long-bond buyback from $2B to $4B. The 30Y yield still sits near 5.25%, days after printing 5.33% - a 19-year high (CNBC, CoinDesk).
The buyback did not tame the long end. It signalled someone has to absorb the debt. That is the trade bitcoin was built for - and spot BTC ETFs just logged a sixth straight day of inflows, $337M on Aug 24 alone.
BTC tagged $81,255 overnight, then got sold back toward $78.7K. Longs are defending the breakout they just bought. If the long end stays sticky, the debasement bid does not go away - $BTC leads, $ETH and $SOL carry the beta. If yields crack, this leg reprices.
Is $81K resistance, or the retest before the next leg?
#Write2Earn #Bitcoin #BondYields #CryptoNews #ETFFlows
Not financial advice. DYOR.
