Why Bitcoin Surged While Stocks Stalled: The US Treasury Bond Buyback Explained
In August 2026, the US Treasury made a pivotal macroeconomic move by doubling the maximum size of its long-term bond buyback operations from $2 billion to at least $4 billion. For traditional markets, this intervention was a mechanical liability management adjustment designed to stabilize yields and improve back-end market functioning. For the cryptocurrency market, however,…