The post Bitcoin (BTC) Soars Past $69K as Treasury Bond Buyback Program Fuels Crypto and Stock Rally appeared on BitcoinEthereumNews.com.
Key Highlights Ether surged 18% within a 24-hour period, climbing above $2,250 and posting the strongest weekly performance among leading digital currencies Bitcoin broke through the $69,100 level, registering an 8% daily increase and 9% weekly advance Treasury bond buyback program expansion doubled in size, catalyzing widespread market momentum Short squeeze eliminated approximately $1.4 billion in bearish positions within a four-hour window Major US equity indices recorded slight advances, with all three primary benchmarks gaining roughly 0.2% Digital currency markets experienced a powerful upward movement Thursday following the Treasury Department’s announcement to significantly increase its bond repurchase program, creating momentum that lifted both cryptocurrency prices and traditional equities. Ether dominated the rally, surging approximately 18% during a 24-hour span to reach just over $2,250. This performance extended its weekly appreciation to roughly 20%, marking the strongest showing among prominent digital assets. Bitcoin advanced to slightly above $69,100, recording an approximately 8% daily gain. The leading cryptocurrency briefly approached $69,900 during overnight trading before experiencing a modest pullback. This represented a price movement exceeding $5,700 from Wednesday’s trough near $64,100. Bitcoin (BTC) Price Treasury Announcement Ignites Market Momentum The primary driver emerged when Treasury Secretary Scott Bessent revealed plans to expand buyback operations for extended-maturity bonds by at least double their current volume. Market participants interpreted this development as an injection of liquidity into the government debt marketplace. BREAKING: The US Treasury announces it will double the size long-term US government debt buybacks following the rapid surge in US Treasury yields. Repurchases of $2 billion will now be increased to "at least" $4 billion, the US Treasury said. The move is intended to provide… — The Kobeissi Letter (@KobeissiLetter) August 19, 2026 Treasury securities experienced sharp appreciation following the announcement. The benchmark 10-year yield declined to approximately 4.63%, while the 30-year…