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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
08/24/2026

Treasury Buybacks Trigger $4B Short Squeeze as Bitcoin and Gold Rally

What happened: After the U.

Treasury Buybacks Trigger $4B Short Squeeze as Bitcoin and Gold Rally

What happened: After the U.S. Treasury announced it would double long-term bond buybacks to $4B per operation, Bitcoin soared 24% for the week, peaking near $79,500 before consolidating around $78,000. Over $4B in bearish crypto positions were liquidated, according to CoinGlass. Gold also rallied 2.7% on the same day, while XRP posted its strongest week since November 2024 (+50%).

Why it matters: The Treasury’s intervention, intended to compress long-term yields, instead appears to have fueled a risk-on rotation into both Bitcoin and gold. Analysts warn that the move may have inadvertently signaled debasement risk, driving capital into alternative stores of value. The scale of the short squeeze underscores the fragility of bearish positioning in the current macro environment.

Source: CoinDesk