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Bitcoin Price Holds Below $79K As Treasury Preps Bigger Bond Buyback
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
Treasury Secretary Scott Bessent is set to announce a larger bond buyback operation, with Wall Street expecting a $5-6 billion move focused on long-term bonds. A bigger buyback could reduce the supply of net long-dated debt and help contain elevated yields, with the announcement timed ahead of upcoming 10 and 30-year Treasury auctions. Bitcoin is consolidating just below $79,000, with the daily RSI moving away from overbought territory. Despite the pause, weekly chart momentum remains bullish, with continued ETF inflows and treasury company buying. Bitcoin treasury firm Strive purchased another 1,375 BTC, while Tom Lee’s Bitmine added to its Ethereum holdings, now near 5% of total ETH supply at 20,086 ETH.
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