Treasury Buyback Fills $6 Billion Again: So Why Is Bitcoin Below $80K?

The US Treasury on Tuesday bought back $6 billion of 20- to 30-year bonds, filling its cap after dealers offered $10.7 billion across six bonds, at prices of 52 to 71 cents on the dollar for about $3.8 billion in cash. The operation was the fourth full-size fill. Bitcoin fell below $80,000 instead of rallying, unlike August 19, when Treasury unexpectedly said it would double long-dated buybacks to at least $4 billion per operation and Bitcoin rose about 7%. Newsquawk described the buybacks as routine liquidity support helping dealers offload older, thinly traded bonds; Tuesday's operation had been on Treasury's tentative schedule for weeks. Bitcoin was down 1.5% over 24 hours, CoinGecko data showed Thursday.