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Morning Edition · Sunday, August 23, 2026Published at 1:46 AM EDT · New York
A Treasury Buyback Adjustment Pulled Yields Off Highs and Set Off the Week's Bitcoin Squeeze
Bitcoin advanced about 25% toward $80,000 before falling back, with roughly $100 million of long positions liquidated in one hour early Sunday as the price fell below $76,000.
The most consequential input into last week's crypto rally came from the United States Treasury, not from crypto. CoinDesk reported that an adjustment to the Treasury's debt buyback operations helped pull long-term yields down from 19-year…
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Dollar Liquidity Sets Crypto's Direction
Bank reserve levels and Treasury cash management increasingly determine crypto price direction more than crypto-native flows, tying digital assets to the same funding cycle as leveraged equities.
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