U.S. Treasury Buyback Program Restart Signal Triggers Market Resonance, Bitcoin Tests $70,000 Level

The U.S. Department of the Treasury’s launch of a long-term bond buyback program is reshaping macro liquidity expectations and is viewed by the market as a potential turning point that could relieve pressure on crypto asset prices. Treasury Secretary Scott Bessent publicly confirmed that the government will conduct such operations on a regular basis, aiming to correct deviations between bond yields and fundamentals, thereby providing structural support for Bitcoin to break free from high-yield suppression. Bessent revealed that the buyback scale is expected to exceed the previously announced $4 billion cap. At the time, the 10-year Treasury yield was hovering around 4.68%, a modest three-basis-point increase from the previous day, yet still constituting a significant source of pressure. Following the release of the buyback signal, Bitcoin responded swiftly, nearly touching the $73,000 level. Data shows that capital flows are highly sensitive to interest rates, and Bessent’s remarks directly triggered a valuation recovery in risk assets, with the market interpreting this move as a substantive hedge against rising long-term borrowing costs.